BAVARIA FIRST INVESTMENT

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		<h1>Recommendation - 2010-03-01 10:35</h1><div align="justify">EURUSD As the pair has managed to stay above 1,3580 current upside pressure is likely to bring this cross as high as 1,3690. This movement may be extended to 1,3750/1,3800 in case of stronger gains. Only retreat below 1,3580 may suspend this scenario and initiate drops leading to 1,3520.</div>&nbsp;GBPUSD Drop to the area of 1,5120 should be considered to open long positions as another approach to 1,5260 is possible. Breakout over there will stand for attack on 1,5340. This trade idea will be invalidated in case of fall below 1,5080 what will open way for deeper falls leading to the region of 1,5000/1,4980.&nbsp;USDCHF Unless the cross jumps above 1,0780 drops are expected at first to the region of 1,0680 with a chance even for 1,0620. Retreat above 1,0800 will change short term situation and may lead to the test of 1,0860/90 area. &nbsp;EURJPY After last week's strong drops right now corrective pressure is tangible. Rise above 121,70 should initiate further gains leading to 122,40. This movement may be extended even to 123,10. Drop below 121,00 is highly possible to finish the current upside wave. 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 - 2010-03-01, 10:35

EURUSD
As the pair has managed to stay above 1,3580 current upside pressure is likely to bring this cross as high as 1,3690. This movement may be extended to 1,3750/1,3800 in case of stronger gains. Only retreat below 1,3580 may suspend this scenario and initiate drops leading to 1,3520.

GBPUSD
Drop to the area of 1,5120 should be considered to open long positions as another approach to 1,5260 is possible. Breakout over there will stand for attack on 1,5340. This trade idea will be invalidated in case of fall below 1,5080 what will open way for deeper falls leading to the region of 1,5000/1,4980.

USDCHF
Unless the cross jumps above 1,0780 drops are expected at first to the region of 1,0680 with a chance even for 1,0620. Retreat above 1,0800 will change short term situation and may lead to the test of 1,0860/90 area.

EURJPY
After last week's strong drops right now corrective pressure is tangible. Rise above 121,70 should initiate further gains leading to 122,40. This movement may be extended even to 123,10. Drop below 121,00 is highly possible to finish the current upside wave.

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Daily commentary - 2010-03-01, 10:35

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