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Forex Analysis on Majors

yesterday euro attained new record high with US dollar above 1.6

Wed, Jul 16 2008, 06:58 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 relative rise of parties’ activity with a minimal advantage from buyers gives minimal grounds to choose buyers’ planning priorities for today. Hence and taking into account the feature of incompletion of bearish development, we assume a possibility of pair return to supports 1.0070/90, 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 1.0120/30, 1.0160/80 and/or further breakout variant up to 1.0210/20, 1.0240/60. An alternative for sells will be below 0.9990 with the targets 0.9920/40, 0.9880/.09900.



GBP
The pre-planned breakout variant for buyers has been realized with attainment of minimal assumed target. OsMA trend indicator having marked further development with strengthening of bearish activity up to parity level of the parties does not bring in clearness to a choice of planning priorities for today. But taking into account the fact that without grounds to change planning priorities in favor of sells we assume a possibility of attainment of supports 1.9960/80, 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 2.0040/60 and/or further breakout variant above 2.0080 with the targets 2.0140/60. An alternative for sells will be below 1.9900 with the targets 1.9840/60, 1.9760/80, 1.9700/20.



JPY
The pre-planned breakout variant for sells has been realized with overlap of assumed targets. OsMA trend indicator having marked the preservation of bearish advantage continues to support the preservation of corresponding planning priority for today. Hence and taking into account bullish character of indicator chart, 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 sells on condition of formation of topping signals the targets will be 104.10/30, 103.80/90 and/or further breakout variant up to 103.20/40, 102.80/103.00. An alternative for buyers will be above 105.50 with the targets 105.80/90, 106.20/40.



EUR
The pre-planned breakout variant for buyers has been realized but without attainment of minimal assumed target within previous trading day. OsMA trend indicator having marked further development as a relative rise of bearish activity gives grounds to make a corresponding choice of planning priorities for today. Hence and because of ascending direction of indicator chart, we assume a possibility of pair return to resistance range 1.5920/40, 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 1.5860/80, 1.5820/40, 1.5770/80 and/or further breakout variant up to 1.5710/30, 1.5660/70. An alternative for buyers will be above 1.5980 with the targets 1.6020/40, 1.6080/1.6100.

Published on  Wed, Jul 16 2008, 07:08 GMT