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Waluty: Currency market commentary

30.06.2009 10:32 wtorek

EURUSD

For Today We recommend taking longs from 1,4070 as correction downward movement is highly probable especially after rally up to 1,4150. Rebound from 1,4070 shall drive this currency rate up to 1,4240. Currently We are dealing with strong upward trend with approximately  destination 1,4700. In case breaking a significant support at 1,4010 a deeper declines may reach a lower band of the range 1,3830 – 1,4130.

GBPUSD

Right now the market is creating a strong upward trend with possibly destination much above 1,70.As long as the quotations are above 1,6600 the upward movement is not in danger. So Today correction declines shall be used for longs from 1,6660 or even 1,6610.Firstly  targeting at 1,6740 and then 1,6820. The key level deciding about further gains shall be tested at 1,6950.

USDCHF

This pair is continuing the downward movement with a final target at 1,0660 but upward correction from 1,0750 is highly possible.

Today opening shorts from 1,0850 seems as a reasonable strategy but breaking 1,0890 should send a sign of further gains up to 1,0920  or even 1,0980.

EURJPY

This pair is strictly expected to go up even to 141,00 in mid-term so any downward correction slides shall be used for longs. Currently declines to 133,30 shall be treated as  an opportunity for robust rebound to 138,00 at least. On the other hand, stronger declines below 131,00 may boost further strengthening of  a yen down to 126,00.

For more comments and recommendations please visit our website www.bavariafund.com








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