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Forex Analysis on Majors

daily forecast on majors

Mon, May 5 2008, 10:03 GMT
by Igor Kulaga

Forex Ltd

CHF
The pre-planned breakout variant for buyers has been realized with attainment of main assumed targets. OsMA trend indicator having marked the top of previous week with a formation of reversal bearish signal with further relative strengthening of sales’ activity gives grounds to presume a continuation of started period of rate correction but without change of planning priorities in favor of bearish party. Hence we assume a possibility of pair return to supports 1.0470/90, 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 1.0540/60, 1.0600/20 and/or further breakout variant up to 1.0660/80, 1.0720/40, 1.0780/1.0800. An alternative for sales will be below 1.0400 with the targets 1.0330/50, 1.0280/1.0300, 1.0220/40.



GBP
The pre-planned breakout variant for buyers has been realized with attainment of minimal assumed target. OsMA trend indicator having marked the fall of parties’ activity because of chosen strategy does not reveal features to choose planning priorities for today. Hence we assume a possibility of range movement of the rate with pair return to 1.9800/20, where it is recommended to evaluate the activity development according to the charts of shorter time interval. For short-term sales on condition of formation of topping signals the targets will be 1.9720/40, 1.9680/1.9700 and/or further breakout variant up to 1.9610/30, 1.9550/70. An alternative for buyers will be above 1.9900 with the targets 1.9960/80, 2.0000/20.



JPY
The pre-planned breakout variant for buyers has been realized with attainment of minimal assumed target. OsMA trend indicator having marked the preservation of activity parity of both parties did not reveal the clearness to make a choice of planning priorities for today but because of chosen strategy we assume a possibility of preservation of ascending trading channel. At present taking into account the relative rise of bearish counteraction we assume a possibility of pair return to supports 104.90/105.10, 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 105.50/60, 106.00/20 and/or further breakout variant up to 106.60/80, 107.20/40, 107.80/108.00. An alternative for sales will be below 104.60 with the targets 104.00/20, 103.40/60, 102.80/103.00.



EUR
The pre-planned short positions from the key resistance range have been realized with attainment of main assumed targets. OsMA trend indicator having marked the Low of previous week with formation of reversal bullish signal with consequent strengthening of buyers’ activity gives grounds to presume further period of rate correction but with a preservation of bearish planning priorities for today. Hence and because of ascending direction of indicator chart we assume a possibility of attainment of resistance levels 1.5500/20, where it is recommended to evaluate the activity development according to the charts of shorter time interval. For short-term sales on condition of formation of topping signals the targets will be 1.5430/50, 1.5360/80 and/or further breakout variant up to 1.5300/20, 1.5240/60, 1.5200/20. An alternative for buyers will be above 1.5540 with the targets 1.5580/1.5600, 1.5640/60.

Published on  Mon, May 5 2008, 10:07 GMT

Archive

• euro has targeted to new record high with yen
  Published On Fri, Jul 18 2008, 07:03 GMT
• forecast on majors
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• yesterday euro attained new record high with US dollar above 1.6
  Published On Wed, Jul 16 2008, 06:58 GMT
• today Bank of Canada will publish Rate decision
  Published On Tue, Jul 15 2008, 07:34 GMT
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  Published On Mon, Jul 14 2008, 09:49 GMT

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