BAVARIA FIRST INVESTMENT

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		<h1>Recommendation - 2010-08-26 10:59</h1>EURUSD Totally as we said yesterday the strategy of correction upward movement is clearly on the table and any possible long position should be armed with stop loss order not lower than at 1.2690. Moreover , the maximal length of this rebound may reach even 1.2780/2800 where we recommend to set some shorts. Moreover , till the quotations are below 1.2800 there is no danger for bearish sentiment and any incidental jump toward 1.2740 or even 30 pips higher should be used as a perfect opportunity for selling. Otherwise only rebound above 1.2800 should let us know about such targets as 1.2900 and 1.3000. USDCHF&nbsp;This pair is realizing downward scenario quite consequently setting new low every day what may be resulted in testing parity in the nearest few weeks. But before that the market has to break some supports around 1.0250 and the 100 pips lower. However Today any jump above 1.0300 shall be halted just around the resistance at 1.0330. Free marches even toward 1.0380 shall only confirm the current ruling sentiment but any journey above 1.0400 may open a way 200 pips higher. GBPUSD It is worthy to know that any incidental jump toward 1.5600 may easily add another 80 pips higher. Generally in line with yesterday prognosis In case firmly breaking 1.5500 another 100 pips shall be a matter of few hours and it was perfectly confirmed so what Today. Our daily recommendation perceives some short from 1.5560 with targets around yesterday resistance but today supports at 1.5490/60 EURJPYCurrently this pair has some difficulties with breaking the resistance at 108.10 what naturally may be resulted in falls even toward 107.00. Moreover breaking that lower level easily open a way for deeper 130 pips falls. In spite surviving this pair above 106.80 some bigger shorts shall be set not earlier than at 108.10 with possibility testing levels even 100 pips higher. 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 - 2010-08-26, 10:59

EURUSD

Totally as we said yesterday the strategy of correction upward movement is clearly on the table and any possible long position should be armed with stop loss order not lower than at 1.2690. Moreover , the maximal length of this rebound may reach even 1.2780/2800 where we recommend to set some shorts.
Moreover , till the quotations are below 1.2800 there is no danger for bearish sentiment and any incidental jump toward 1.2740 or even 30 pips higher should be used as a perfect opportunity for selling. Otherwise only rebound above 1.2800 should let us know about such targets as 1.2900 and 1.3000.

USDCHF

This pair is realizing downward scenario quite consequently setting new low every day what may be resulted in testing parity in the nearest few weeks. But before that the market has to break some supports around 1.0250 and the 100 pips lower. However Today any jump above 1.0300 shall be halted just around the resistance at 1.0330. Free marches even toward 1.0380 shall only confirm the current ruling sentiment but any journey above 1.0400 may open a way 200 pips higher.

GBPUSD

It is worthy to know that any incidental jump toward 1.5600 may easily add another 80 pips higher. Generally in line with yesterday prognosis In case firmly breaking 1.5500 another 100 pips shall be a matter of few hours and it was perfectly confirmed so what Today. Our daily recommendation perceives some short from 1.5560 with targets around yesterday resistance but today supports at 1.5490/60

EURJPY

Currently this pair has some difficulties with breaking the resistance at 108.10 what naturally may be resulted in falls even toward 107.00. Moreover breaking that lower level easily open a way for deeper 130 pips falls. In spite surviving this pair above 106.80 some bigger shorts shall be set not earlier than at 108.10 with possibility testing levels even 100 pips higher.

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Daily commentary - 2010-08-26, 10:59

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