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Waluty: Currency market commentary

03.07.2009 10:08 pi±tek

EURUSD

After falling from 1,4190 this pair's slides reached as low as 1,3930 where further declines was stopped and We might observe quite robust jump above 1,4000 indicating that the market doesn't feel like for bearish scenario. So for today We are suggesting to open longs at 1,3975 with stop loss not more than 40 pips and targets at 1,4030 and then 1,4090. As We recommended yesterday, breaking level of 1,4030 may boost further declines to 1,3990. The main upward trend shall be kept and breaking 1,4260 may drive this pair up to 1,4330.

GBPUSD

Strategy of longs shall be the most favorable for today as this pair won't break 1,6240 .For today We suggest opening longs at 1,6330  with a target at 1,6390 or 1,6430.  This bullish strategy shall be revised in case breaking strong support  at 1,6240 what shall be read as beginning of next downward movement reaching 1,6030.

USDCHF

 In short – term future We perceive a further declines to 1,0710  but firstly opening shorts at 1,0850 shall be recommended.

Cashing positions at 1,0810 and  then 1,0760 would be preferable.  Breaking the level at 1,0850 shall be treated as a temporary jump up to 1,0910/60. 

USDJPY

This pair is likely to move up to 96,90 so for Today  We suggest opening longs at 95,80 with 50 pips stop loss and profit taking at 96,30 and then 96,70. I n case breaking 95,30 the downward wave may reach even 94,00.But adversely, surge above 97,00 may lead this currency rate up to 98,50.

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