BAVARIA FIRST INVESTMENT

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		<h1>Recommendation - 2010-02-24 10:29</h1>EURUSD As long as this pair is above support at 1.3450 some longs from 1.3520 shall be considered but with no more than 30 pips of stop loss order as firmly breaking support at 1.3500 may easily fall toward last thorough at 1.3440 or even 60 pips lower. On the other hand, We are still waiting for rebound toward 1.3590 or even 60 pips higher but only while level at 1.3500 will be kept. USDCHFOpening shorts from 1.0830 would be quite profitable as long as the significant resistance 50 pips higher is not tested. Moreover smoothly breaking resistance at 1.0830 shall extend jump toward 1.0930 but with the first pause at 1.0880. On the other hand the support around 1.0600 shall be reasonable only in case falls below 1.0720. GBPUSDDue to quick rebound from support at 1.5350 toward 1.5500 area testing supports at 1.5440 and 30 pips lower seems to be a matter of time. Moreover any stronger slide may drive this pair down to last thorough again. So Today our recommendation perceives some correction rebound from 1.5430 where some longs shall be placed with no more than 30 pips of stop loss order as breaking 1.5400 another 50 pips may takes only few hours. EURJPYAs long as We are above 121.70 some longs from that area should be considered with a targets around 122.40 and then 60 pips higher. Moreover in case rebound above 124.50 another 60 pips should not be a problem with a targets at 126.70 in a longer perspective. In case falls below support at 121.70 the market may drive this pair down to 121.00 and then 119.50 in consequence.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 - 2010-02-24, 10:29

EURUSD

As long as this pair is above support at 1.3450 some longs from 1.3520 shall be considered but with no more than 30 pips of stop loss order as firmly breaking support at 1.3500 may easily fall toward last thorough at 1.3440 or even 60 pips lower. On the other hand, We are still waiting for rebound toward 1.3590 or even 60 pips higher but only while level at 1.3500 will be kept.

USDCHF

Opening shorts from 1.0830 would be quite profitable as long as the significant resistance 50 pips higher is not tested. Moreover smoothly breaking resistance at 1.0830 shall extend jump toward 1.0930 but with the first pause at 1.0880. On the other hand the support around 1.0600 shall be reasonable only in case falls below 1.0720.

GBPUSD

Due to quick rebound from support at 1.5350 toward 1.5500 area testing supports at 1.5440 and 30 pips lower seems to be a matter of time. Moreover any stronger slide may drive this pair down to last thorough again. So Today our recommendation perceives some correction rebound from 1.5430 where some longs shall be placed with no more than 30 pips of stop loss order as breaking 1.5400 another 50 pips may takes only few hours.

EURJPY

As long as We are above 121.70 some longs from that area should be considered with a targets around 122.40 and then 60 pips higher. Moreover in case rebound above 124.50 another 60 pips should not be a problem with a targets at 126.70 in a longer perspective. In case falls below support at 121.70 the market may drive this pair down to 121.00 and then 119.50 in consequence.

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Daily commentary - 2010-02-24, 10:29

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