BAVARIA FIRST INVESTMENT

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		<h1>Recommendation - 2010-09-02 10:43</h1>EURUSDAs we said yesterday the scenario of rebound up to 1.2850 was executed perfectly what is more, Today our short positions shall be push higher by about 40 pips. In details it looks that the area between 1.2890 - 1.2910 may bring some profits any short traders. The correction slide should reach 1.2850 quite easily. Moreover in case firmly breaking 1.2930 the next reasonable target should be placed around 1.3100. Otherwise we have to remember that breaking 1.2760 may open a way toward previously highlighted support 1.2430. USDCHFToday we suggest opening short positions around 1.0210 as downward scenario is perfectly realized. Clearly meaning that the next pause in falls shall be not earlier than about 50 pips below 1.0100. Moreover after stop around that lower support the straight way toward 1.000 is at horizon. GBPUSD It is worthy to know that any incidental jump toward 1.5440 may easily add another 40 pips higher. Generally in line with yesterday prognosis in case firmly breaking 1.5560 another 100 pips shall be a matter of few hours. Our daily recommendation perceives some short from 1.5480 with targets around at 1.5400. EURJPYCurrently this pair has some difficulties with breaking the support at 107.50 what naturally may be resulted in jump even toward 109.70. Moreover breaking that higher level easily open a way for higher 140 pips march. In spite surviving this pair above 107.20 some bigger shorts shall be set not earlier than at 109.30 with possibility testing levels even 170 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 - 2010-09-02, 10:43

EURUSD

As we said yesterday the scenario of rebound up to 1.2850 was executed perfectly what is more, Today our short positions shall be push higher by about 40 pips. In details it looks that the area between 1.2890 - 1.2910 may bring some profits any short traders. The correction slide should reach 1.2850 quite easily. Moreover in case firmly breaking 1.2930 the next reasonable target should be placed around 1.3100. Otherwise we have to remember that breaking 1.2760 may open a way toward previously highlighted support 1.2430.

USDCHF

Today we suggest opening short positions around 1.0210 as downward scenario is perfectly realized. Clearly meaning that the next pause in falls shall be not earlier than about 50 pips below 1.0100. Moreover after stop around that lower support the straight way toward 1.000 is at horizon.

GBPUSD

It is worthy to know that any incidental jump toward 1.5440 may easily add another 40 pips higher. Generally in line with yesterday prognosis in case firmly breaking 1.5560 another 100 pips shall be a matter of few hours. Our daily recommendation perceives some short from 1.5480 with targets around at 1.5400.

EURJPY

Currently this pair has some difficulties with breaking the support at 107.50 what naturally may be resulted in jump even toward 109.70. Moreover breaking that higher level easily open a way for higher 140 pips march. In spite surviving this pair above 107.20 some bigger shorts shall be set not earlier than at 109.30 with possibility testing levels even 170 pips higher.

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Daily commentary - 2010-09-02, 10:43

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