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Forex Analysis on Majors

Looking for Durable Goods Orders

Fri, Jul 25 2008, 08:09 GMT
by Igor Kulaga

Forex Ltd

CHF
The presumed pair return to the key supports for realization of the pre-planed buyers’ positions has been confirmed, but the strengthening of overbought factor with minimal stable priority of bearish party gives grounds to assume deeper rate correction but with a preservation of planning buyers’ priorities for today. At this point and taking into account the descending direction of indicator chart, we assume a possibility of pair return to stronger supports 1,0260/80, where it is recommended to evaluate the activity development according to the charts of shorter time interval. For short-term buyers’ positions on condition of formation of topping signals the targets will be 1,0320/40, 1,0380/1,0400 and/or further breakout variant up to 1,0440/60, 1,0500/20. An alternative for sells will be below 1,0220 with the targets 1,0160/80, 1,0100/20.



GBP
The pre-planned breakout variant for sells has been realized with attainment of minimal assumed target. OsMA trend indicator having marked the preservation of relatively high level of bearish activity and tendency to bullish resistance fall gives grounds to preserve bearish planning priorities for today. Hence, we assume a possibility of pair return to the nearest resistance range 1,9870/90, where it is recommended to evaluate the activity development according to the charts of shorter time interval. For short-term sells on condition of formation of topping signals the targets will be 1,9810/30, 1,9740/60 and/or further breakout variant up to 1,9680/1,9700, 1,9620/40. An alternative for buyers will be above 2,0000 with the targets 2,0050/70, 2,0120/40.



JPY
The pre-planned breakout variant for sells has been realized and the attainment of assumed targets is being supported by the tendency of strengthening of bearish activity and current active phase of bearish development. Nevertheless, today in spite of bearish advantage, there are signs of relatively slow dynamic of sells activity rise but with a positive moment of minimal activity of bullish counteraction. Hence we assume a possibility of short-term pair return to the range of 107,00/20, where it is recommended to evaluate the activity development according to the charts of shorter time interval. For short-term sells on condition of formation of topping signals the targets will be 106,40/60 and/or further breakout variant up to 105,80/106,00, 105,20/40. An alternative for buyers will be above 107,40 with the targets 107,80/108,00, 108,20/40.



EUR
The pre-planed short positions from the key resistance range have been realized with overlap of minimal assumed target. OsMA trend indicator, having marked the strengthening of oversold factor with a preservation of relatively bullish priority gives grounds to suggest a possibility of deeper rate correction, but with bearish planning priority for today. Hence and taking into account the ascending direction of indicator chart, we assume a possibility of pair return to resistance range 1,5760/80 where it is recommended to evaluate the activity development according to the charts of shorter time interval. For short-term sells on condition of formation of topping signals the targets will be 1,5700/20, 1,5660/80, 1,5600/20 and/or further breakout variant up to 1,5520/40, 1,5460/80. An alternative for buyers will be above 1.5810 with the targets 1,5860/80, 1,5900/20.

Published on  Fri, Jul 25 2008, 08:09 GMT

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