Daily commentary - 2010-03-09, 10:14
As this major pair is seen in longer consolidation between 1.3430 and 1.3740 and Today We are accounting for more decisive movement with detailed direction. So our daily forecast says about some long bets around 1.3580 and then 50 pips lower. On the other hand in case rebound above 1.3640 march for another 100 pips should takes only few hours with a attack on 1.3800 in longer perspective.
USDCHF
Some shorts from 1.0760 or even 40 pips higher shall be profitable as firm falls below 1.0730 may confirm our strategy to more bearish with targets around 1.0660 and then 60 pips lower in few hours. Otherwise only shoot above 1.0810 toward 1.0880 and then toward 1.0940 is highly expected.
GBPUSD
As this pair is in its corrective rebound taking some shorts from 1.5020 should be reasonable but under one condition that resistance 30 pips higher won't be tested. Moreover in case breakout area around 1.5100 another 70 pips may takes only one hour indicating march toward new targets around 1.5300. Today We forecast that support at 1.4860 won't be a problem in case falls below 1.4950.
EURJPY
After yesterday's jump toward 123.80 and the quick return, testing area around 121.60 is highly expected so some shorts shall be placed at 122.50 as falls toward 120.30 and 80 pips lower are strongly perceived. On the other hand in case jump above 123.00 another 60 pips won't be a problem with possible extension of the movement toward 124.00.
