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Waluty: Currency market commentary

18.03.2010 09:44 czwartek
EURUSD
Due to quick reaction of demand from support at 1.3650 this currency rate was pick up 20 pips higher. So Today we suggest opening longs from 1.3660 with a stop loss order around  1.3630 area. In case falls below that support , the level at 1.3580  shall be a matter of time with possible extension toward 1.3470.

USDCHF
As this pair is in downward rally  any rebound toward  1.0590 or 50 pips higher  shall be used as an opportunity for selling, so taking some shorts from the upper level  may bring some profits. On the other hand only significant jump above 1.0660 may cancel the current downward march of this currency cross.

GBPUSD
Generally thanks to firm defence at 1.5360 this pair has a open way toward 1.5180 or even 150 pips lower.
On the other hand we recommend to open shorts from 1.5310  with a stop loss order 30 pips higher. However, only rebound above 1.5350 should reverse our strategy toward more bullish with targets around 1.5800 at least.

EURJPY
As this currency cross is in its corrective downward slide with a targets 123.00 at least our daily recommendation perceives to use any jump from 123.10 as an opportunity for longs. But we have to remember that stop loss order should be placed not lower than at 122.80 as breaking this support may prolonged this current downward movement toward 121.50 at least.

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