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Forex Analysis on Majors

today Bank of Canada will publish Rate decision

Tue, Jul 15 2008, 07:34 GMT
by Igor Kulaga

Forex Ltd

CHF
The pre-planned short positions from the key resistance range have been realized with overlap of minimal assumed target. OsMA trend indicator having generally marked the close activity parity of both parties as well as the feature of oversold factor near channel line “2” gives grounds to presume a possibility of rate correction period within the version of ascending trading channel. Hence and to reduce trading risks we assume a possibility of pair return to resistance range 1.0180/1.0200, 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 1.0120/40, 1.0090/1.0100 and/or further breakout variant up to 1.0020/40, 0.9980/1.0000. An alternative for buyers will be above 1.0240 with the targets 1.0280/1.0300, 1.0320/40.



GBP
The pre-planned buyers’ positions from the key supports have been realized with attainment of main assumed targets. OsMA trend indicator having marked the features of overbought factor without confirmative strengthening of bearish counteraction gives grounds to preserve buyers’ planning priorities for today. Hence and to reduce trading risks we assume a possibility of pair return to supports 1.9880/1.9900, 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 1.9950/70, 2.0000/20 and/or further breakout variant up to 2.0060/80, 2.0120/40, 2.0180/2.0200. An alternative for sells will be below 1.9840 with the targets 1.9780/1.9800, 1.9720/40, 1.9680/1.9700.



JPY
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 activity fall of both parties with some advantage of bullish party gives grounds to presume pair return to the range of 106.20/40, 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 105.60/80 and/or further breakout variant up to 105.00/20, 104.60/80. An alternative for buyers will be above 107.00 with the targets 107.40/60, 107.80/108.00.



EUR
The pre-planned buyers’ positions from the key supports have been realized with attainment of minimal assumed target. OsMA trend indicator having marked the activity fall of both parties is not a confirmative feature for a choice of planning priorities for today. Hence because of chosen strategy based on presumption about possible range movement of the rate we assume a possibility of pair return to channel line “1” to support range 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. As before an alternative for sells will be below 1.5800 with the targets 1.5740/60, 1.5700/20.

Published on  Tue, Jul 15 2008, 07:37 GMT