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Forex Analysis on Majors

gbp/usd has weakened after PPI input and output publication

Mon, Jul 14 2008, 09:49 GMT
by Igor Kulaga

Forex Ltd

CHF
The pre-planned breakout variant for sells has been realized with attainment of minimal assumed target. OsMA trend indicator having marked the progress of bearish activity preserves the priority of attendant planning for today. Hence and because of ascending direction of indicator chart with the feature of strengthening of bullish counteraction, we assume a possibility of pair return to resistance range 1.0220/40, where it is recommended to evaluate the activity development according to the charts of shorter time interval. For sells on condition of formation of topping signals the targets will be 1.0160/80, 1.0100/20 and/or further breakout variant up to 1.0040/60, 1.0000/20. An alternative for buyers will be above 1.0260 with the targets 1.0300/20, 1.0340/60.



GBP
The pre-planned breakout variant for buyers has been realized with overlap of minimal assumed target. OsMA trend indicator having marked the high level of buyers’ activity gives grounds to choose bullish planning priorities for today but after a period of completion of rate correction by the relative strengthening of bearish counteraction. Hence we assume a possibility of pair return to supports 1.9790/1.9810, 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 1.9860/80, 1.9940/60, 2.0000/20 and/or further breakout variant up to 2.0060/80, 2.0100/20. An alternative for sells will be below 1.9700 with the targets 1.9640/60, 1.9580/1.9600.



JPY
The pre-planned breakout variant for sells has been realized with attainment of assumed targets. OsMA trend indicator having marked the considerable rise of bearish activity gives grounds to change planning priorities in favor of sells. Hence and because of bullish character of indicator chart, we assume a possibility of pair return to the nearest resistance range 106.65/75, where it is recommended to evaluate the activity development according to the charts of shorter time intervals. For sells on condition of formation of topping signals the targets will be 106.10/30, 105.60/70 and/or further breakout variant up to 105.00/20, 104.40/60. An alternative for buyers will be above 107.20 with the targets 107.60/80, 108.00/20.



EUR
The pre-planned breakout variant for buyers has been realized with overlap of assumed targets. OsMA trend indicator having marked the relative rise of bullish activity gives grounds to preserve buyers’ planning priorities for today but after completion of rate correction period for which the key support will be the nearest levels of channel line “1” at 1.5850/70, 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 1.5920/40, 1.5980/1.6000 and/or further breakout variant above 1.6020 with the targets 1.6060/80, 1.6100/20. An alternative for sells will be below 1.5800 with the targets 1.5740/60, 1.5700/20.

Published on  Mon, Jul 14 2008, 09:52 GMT