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Forex Analysis on Majors

forecast of eur, gbp, jpy, chf

Wed, May 7 2008, 06:59 GMT
by Igor Kulaga

Forex Ltd

CHF
The pre-planned breakout variant for sales has been realized but without attainment of minimal assumed target. OsMA trend indicator having marked the break of key support with a relative rise of bearish activity was later overlapped with stronger potential of bullish party that gives grounds to preserve earlier opened short positions with further support of buyers’ planning priorities for today. Hence we assume a possibility of pair return to the nearest supports 1.0490/1.0500, 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 reversal signals the targets will be 1.0540/50, 1.0590/1.0610 and/or further breakout variant up to 1.0660/80, 1.0720/40, 1.0780/1.0800. An alternative for sales will be below 1.0440 with the targets 1.0380/1.0400, 1.0320/40, 1.0280/1.0300.



GBP
The pre-planned breakout variant for sales has been realized but with a loss of several points in attainment of minimal assumed target. OsMA trend indicator having preserved the low level of parties’ activity does not give grounds to choose planning priorities for today. In this situation as before because of presumptions about possible continuation of range movement of the rate, we assume a possibility of test of the nearest resistance range 1.9750/70, 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 1.9690/1.9710, 1.9610/30 and/or further breakout variant up to 1.9540/60, 1.9480/1.9500. An alternative for buyers will be above 1.9840 with the targets 1.9880/1.9900, 1.9950/70, 2.000/20.



JPY
The pre-planned short positions from the key resistance range have been realized with attainment of main assumed targets. OsMA trend indicator having generally preserved the activity parity of both parties gives grounds to support the presumptions about possible continuation of existent tendency within the version of ascending trading channel. Hence and because of descending direction of indicator chart, we assume a possibility of pair return to supports 104.40/50, where it is recommended to evaluate the activity development according to the charts of shorter time interval. For short-term buys on condition of formation of topping signals the targets will be 104.90/105.00, 105.20/30 and/or further breakout variant up to 105.60/70, 105.90/106.00. An alternative for sales will be below 104.00 with the targets 103.50/60, 103.00/20.



EUR
Earlier opened short positions had the result only on minimal assumed targets. OsMA trend indicator having marked the top of previous trading day with uncertainty of bullish development continues to support planning priorities in favor of sales for today. Hence we assume a possibility of insignificant rate correction to the nearest resistance range 1.5510/25, 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 1.5460/70, 1.5430/40 and/or further breakout variant up to 1.5390/1.5400, 1.5350/60, 1.5300/10. An alternative for buyers will be above 1.5540 with the targets 1.5570/80, 1.5620/40.

Published on  Wed, May 7 2008, 07:02 GMT

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