Good morning. Herewith we would like to present our daily currency market commentary.

EURUSD
Drop to the area of 1,3730/1,3720 should be treated as a good opportunity to buy as another approach towards 1,3820 is very likely. This movement may be also extended to the region of 1,3870/90. Our scenario will be suspended in case of fall below 1,3720 what may lead to the test of 1,3670/1,3620.

GBPUSD
Unless this cross climbs above 1,5280/1,5300 area, return to falls is expected. Range of expected drops we assess for 1,5150 or even 1,5080. Otherwise attack on 1,5420 will be just a matter of time.

USDCHF
Any retreat towards 1,0590/1,0600 should be used to open short positions as another drop to the area of 1,0510 is expected. Over there decisive movements shall take place as drop below 1,0480 shall switch the mid-term direction to the downside. Rise above 1,0600 is likely to reach 1,0660.

EURJPY
The area of 124,80 seems proper to open long positions with destination target set at 125,70. Stop loss order should not be placed lower than 124,60 as breach through this level may lead this cross to 124,10 and deeper 123,20.

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