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BFI: Currency market commentary

06.10.2008 09:42 poniedzia³ek

Good morning. We would like to present our currency market forecasts for today.

EURUSD
We expect a rise to 1,3650 followed by a drop towards 1,3560/1,3460. Only the return above 1,3710 may cancel this scenario.

GBPUSD
Rise to 1,7690/1,7700 can be used to open short positions with destination target 1,7550. Breach of this level will lead to 1,7440.

USDJPY
The area of 104,40/104,50 is expected to  be reached shortly, afterwards fall down to 103,30/102,80.

USDCHF
Possible retreat towards 1,1290 will be followed by a rise to 1,1410. Breakout at 1,1410 will initiate gains up to 1,1600.

For more comments and recommendations please visit our website www.bavariafund.com








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