BAVARIA FIRST INVESTMENT

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		<h1>Recommendation - 2010-03-03 10:05</h1>EURUSD This pair is currently in a corrective rebound from 1.3430 which may reach even 1.3640 where some shorts shall be considered. On the other hand we have to remember about 30 pips of stop loss order as firmly breaking resistance at 1.3670 may easily set again resistance 70 pips higher as a new target. However the current downward movement may lead as toward support at 1.3450/70.&nbsp;USDCHF Opening longs from 1.0725 would be quite profitable as long as the significant support 40 pips lower is not tested. Moreover smoothly breaking resistance at 1.0760 shall extend jump toward 1.0840 but with the first pause at 1.0790. On the other hand the support around 1.0600 shall be reasonable only in case falls below 1.0690.&nbsp;GBPUSD Due to a corrective rebound from 1.4780 toward 1.5070 our recommendation perceives another test the resistance at 1.5060 where some shorts shall be placed. Moreover any stronger jump may drive this pair up to 1.5170 in consequence. &nbsp;EURJPY This current corrective rebound should lead us toward 121.10 where some speculative short positions shall be opened with a targets around 120.20 area. On the other hand in case rebound above 121.30 another 50 pips should not be a problem with a targets at 122.40 in a longer perspective.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.
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Daily commentary - 2010-03-03, 10:05

EURUSD
This pair is currently in a corrective rebound from 1.3430 which may reach even 1.3640 where some shorts shall be considered. On the other hand we have to remember about 30 pips of stop loss order as firmly breaking resistance at 1.3670 may easily set again resistance 70 pips higher as a new target. However the current downward movement may lead as toward support at 1.3450/70.

USDCHF
Opening longs from 1.0725 would be quite profitable as long as the significant support 40 pips lower is not tested. Moreover smoothly breaking resistance at 1.0760 shall extend jump toward 1.0840 but with the first pause at 1.0790. On the other hand the support around 1.0600 shall be reasonable only in case falls below 1.0690.

GBPUSD
Due to a corrective rebound from 1.4780 toward 1.5070 our recommendation perceives another test the resistance at 1.5060 where some shorts shall be placed. Moreover any stronger jump may drive this pair up to 1.5170 in consequence.

EURJPY
This current corrective rebound should lead us toward 121.10 where some speculative short positions shall be opened with a targets around 120.20 area. On the other hand in case rebound above 121.30 another 50 pips should not be a problem with a targets at 122.40 in a longer perspective.

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Daily commentary - 2010-03-03, 10:05

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