Forex Investment and Currency Trading

• 76.4% Fibonacci of the rally from 27th October held at 1.4673
• The market then bounced and has effectively setup another 76.4% Fibonacci retracement against the 14th Jan low
• Trend resistance has been breached
• A close above 1.4865 today will mean a bullish key day reversal will be posted
• Given the setup, we believe this is a good platform for a turn in trend. As a minimum to expect a test of the December 2008 high at 1.5880. Further gains beyond that cannot be written off

As a result - Long a 3 month 1.55 EUR Call / CHF Put option with a knockout at 1.45 at a cost of EUR 0.56%.