Good morning. With great pleasure we would like to present our currency market forecasts for today.

EURUSD
The pair managed to stay above 1,3880 yesterday and moved upwards to 1,4060. This confirms that bullish tendency on the market is tangible. Today we suggest opening long positions as 1,4010 with destination target 1,4120. Below 1,4000 falls may reach even 1,3910/1,3880 however it would be only temporary and we treat it as a corrective movement.

GBPUSD
Is heading towards the upper range limit at 1,6660. Good point  to go long we assess for 1,6420 however in case it is broken the pair may slide to the area of 1,6350. The  lower range limit is set unchanged at 1,6220. Jump above 1,6660 will bring the pair as high as 1,6950 and breakdown at 1,6220 will stand for a drop to 1,5800.

USDCHF
After SNB's intervention the market is slowly regaining pressure to appreciate the franc. In our opinion there is a risk of another intervention, but unless this happens technical short positions may be considered. The first proper level to go short we assess for 1,0940/50 with take profit orders set at 1,0880 and eventually 1,0820. We recommend staying cautious about this pair and placing narrow stop loss orders while playing short.

USDJPY
The pair is likely to reach 97,10. Over there we suggest opening short positions. Short-term take profit order should be set at 96,40. Our mid-term expectations are still set at 91,00.

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