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Forex Analysis on Majors

FOMC left federal funds rate at 2.0%

Thu, Jun 26 2008, 07:15 GMT
by Igor Kulaga

Forex Ltd

CHF
The pre-planned sells from the key resistance range have been realized with attainment of main assumed targets. OsMA trend indicator having marked the preservation of bearish advantage gives grounds to preserve corresponding planning priorities for today. Hence and because of ascending direction of indicator chart, we assume a possibility of pair return to resistance range 1.0370/80, 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 1.0330/40, 1.0290/1.0310 and/or further breakout variant up to 1.0220/40, 1.0160/80. An alternative for buyers will be above 1.0420 with the targets 1.0460/80, 1.0500/20, 1.0560/80, 1.0600/20.



GBP
The assumed test of the key resistance range has been confirmed but the relative rise of bullish activity revealed by OsMA indicator did not promote to immediate realization of the pre-planned short positions. At present with a preservation of priority of bearish planning, we assume a possibility of further rate correction for which the price range is 1.9760/80, 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 1.9690/1.9710, 1.9620/40, 1.9580/1.9600 and/or further breakout variant up to 1.9510/30, 1.9440/60, 1.9360/80. An alternative for buyers will be above 1.9860 with the targets 1.9900/20, 1.9960/80, 2.0000/20.



JPY
The pre-planned sells from the key resistance range have been realized with attainment of minimal assumed target. OsMA trend indicator having marked the preservation of insignificant bearish advantage formally supports the preservation the planning priorities in favor of sells for today. Hence and because of ascending direction of indicator chart, we assume a possibility of pair return to the nearest resistance range 108.10/25, 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 107.60/80, 107.00/20 and/or further breakout variant up to 106.40/60, 105.80/106.00. An alternative for buyers will be above 108.60 with the targets 109.00/20, 109.60/80, 110.00/20.



EUR
The pre-planned sells from the key resistance range have been realized with attainment of minimal assumed target. OsMA trend indicator having marked the break of boundary resistance range with a relative rise of buyers’ activity gives grounds to choose planning priorities in attendant direction for today. Hence and because of descending direction of indicator chart, we assume a possibility of pair return to supports 1.5640/50, 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 1.5680/90,1.5710/20 and/or further breakout variant up to 1.5760/80, 1.5800/20. An alternative for sells will be below 1.5570 with the targets 1.5510/30, 1.5460/80, 1.5380/1.5400.

Published on  Thu, Jun 26 2008, 07:19 GMT