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Forex Analysis on Majors

Forex forecast on eur, gbp, jpy, chf

Thu, May 8 2008, 07:13 GMT
by Igor Kulaga

Forex Ltd

CHF
The pre-planned breakout variant for buyers has been realized but without attainment of assumed targets within previous trading session. OsMA trend indicator having marked the break of boundary resistance level with a formation of reversal bearish signal considerably reduces the perspective of further bullish development. Nevertheless taking into account the preservation of buyers’ advantage we have ground to continue supporting bullish planning priorities also for today. Hence we assume a possibility of pair return to supports 1.0520/40, 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 1.0580/1.0600, 1.0620/40 and/or further breakout variant up to 1.0680/1.0700, 1.0720/40, 1.0780/1.0800. An alternative for sales will be below 1.0460 with the targets 1.0400/20, 1.0360/80.



GBP
The pre-planned breakout variant for sales has been realized with attainment of main assumed targets. OsMA trend indicator having marked the relative rise of bearish activity gives grounds to choose bearish planning priorities for today. Hence we assume a possibility of pair return to resistance range 1.9550/70, 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 1.9490/1.9510, 1.9420/40 and/or further breakout variant up to 1.9360/80, 1.9300/20. An alternative for buyers will be above 1.9640 with the targets 1.9680/1.9700, 1.9740/60.



JPY
The pre-planned breakout variant for buyers has been realized but with a loss of several points in attainment of minimal assumed target. OsMA trend indicator having marked the relative rise of parties’ activity in spite of preferred bearish position does not give grounds to make a firm choice of planning priorities for today. Hence we assume a possibility of pair return to resistance range 104.70/80, 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 104.30/40, 103.90/104.00 and/or further breakout variant up to 103.40/50, 103.00/20. An alternative for buyers will be above 105.20 with the targets 106.50/60, 105.80/106.00.



EUR
The pre-planned breakout variant for sales has been realized with attainment of assumed targets. OsMA trend indicator having marked the advantage of bearish activity continues to support planning priorities in favor of sales but taking into account the formation of reversal bullish signal at Low mark we assume a possibility of rate correction to the nearest strong resistance range 1.5380/1.5400, where it is recommended to evaluate the activity development according to the charts of shorter time interval. For sales on condition of formation of topping signals the targets will be 1.5320/40, 1.5270/90 and/or further breakout variant up to 1.5210/30, 1.5160/80. An alternative for buyers will be above 1.5420 with the targets 1.5460/80, 1.5500/20.

Published on  Thu, May 8 2008, 07:17 GMT

Archive

• Statistics from Germany is still negative
  Published On Wed, Aug 27 2008, 09:20 GMT
• Forex Analysis on Majors
  Published On Mon, Aug 25 2008, 09:13 GMT
• forex forecast on eur / usd / gbp / chf / jpy
  Published On Fri, Aug 22 2008, 07:10 GMT
• euro tries to return above 1.5
  Published On Thu, Aug 21 2008, 07:06 GMT
• forecast on majors
  Published On Wed, Aug 20 2008, 07:14 GMT

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