BAVARIA FIRST INVESTMENT

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		<h1>Recommendation - 2010-02-18 10:05</h1><div align="justify">EURUSD This pair is currently in a corrective rebound from 1.3530 which may reach even 1.3610 where shorts shall be considered. On the other hand we have to remember about 30 pips of stop loss order as firmly breaking resistance at 1.3650 may easily set again resistance 200 pips higher as a new target. However the current downward movement may lead as toward support at 1.3450/70.</div>&nbsp;USDCHF Opening longs from 1.0760 would be quite profitable as long as the significant support 40 pips lower is not tested. Moreover smoothly breaking resistance at 1.0830 shall extend jump toward 1.0930 but with the first pause at 1.0870. On the other hand the support around 1.0600 shall be reasonable only in case falls below 1.0720.&nbsp;GBPUSD Due to fall below support at 1.5620 testing supports at every 50 pips lower as long as to 1.5530 seems to be a matter of time. Moreover any stronger slide may drive this pair down to 1.5270 in consequence. So Today our recommendation perceives corrective rebound toward 1.5660 area where some shorts should be placed but with no more than 30 pips of stop loss order as breaking 1.5700 another 100 pips may takes only few hours.&nbsp;EURJPY This current corrective rebound should lead us toward 123.80/90 where some speculative short positions shall be opened with a targets around 122.20 area. On the other hand in case rebound above 124.00 another 50 pips should not be a problem with a targets at 126.70 in a longer perspective.The Recommendations are estimated with our best knowledge and diligence. We accept no responsibility for the accuracy or completeness of any information here in contained nor for any forecasts or recommendations. We shall not be responsible for any loss arising from any investment based on any recommendation, forecast or other information herein contained. The contents of this publication should not be construed as an express or implied promise, guarantee or implication by us that you will profit from the strategies herein or that your losses in connection therewith can or will be limited. Stops may not necessarily limit losses to intended levels.
					Bavaria First Investment Ltd. All rights reserved.</body></html>

Daily commentary - 2010-02-18, 10:05

EURUSD
This pair is currently in a corrective rebound from 1.3530 which may reach even 1.3610 where shorts shall be considered. On the other hand we have to remember about 30 pips of stop loss order as firmly breaking resistance at 1.3650 may easily set again resistance 200 pips higher as a new target. However the current downward movement may lead as toward support at 1.3450/70.

USDCHF
Opening longs from 1.0760 would be quite profitable as long as the significant support 40 pips lower is not tested. Moreover smoothly breaking resistance at 1.0830 shall extend jump toward 1.0930 but with the first pause at 1.0870. On the other hand the support around 1.0600 shall be reasonable only in case falls below 1.0720.

GBPUSD
Due to fall below support at 1.5620 testing supports at every 50 pips lower as long as to 1.5530 seems to be a matter of time. Moreover any stronger slide may drive this pair down to 1.5270 in consequence. So Today our recommendation perceives corrective rebound toward 1.5660 area where some shorts should be placed but with no more than 30 pips of stop loss order as breaking 1.5700 another 100 pips may takes only few hours.

EURJPY
This current corrective rebound should lead us toward 123.80/90 where some speculative short positions shall be opened with a targets around 122.20 area. On the other hand in case rebound above 124.00 another 50 pips should not be a problem with a targets at 126.70 in a longer perspective.

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Daily commentary - 2010-02-18, 10:05

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