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Forex Analysis on Majors

forecast on majors

Thu, Jul 17 2008, 08:20 GMT
by Igor Kulaga

Forex Ltd

CHF
The pre-planned buyers’ positions from the key supports have been realized with attainment of main assumed targets. OsMA trend indicator having marked the high level of bullish activity continues to support the priority of buyers’ planning today. Hence and because of descending direction of indicator chart, we assume a possibility of pair return to supports 1.0110/30, where it is recommended to evaluate the activity development according to the charts of shorter time interval. For buyers’ positions on condition of formation of topping signals the targets will be 1.01780/90, 1.0220/40 and/or further breakout variant up to 1.0290/1.0310. An alternative for sells will be below 1.0070 with the targets 1.0010/30, 0.9970/90.



GBP
The assumed test of the key supports has been confirmed with conditions for realization of the pre-planned buyers’ positions. OsMA trend indicator having generally marked the activity parity of both parties gives grounds to presume a period of range movement of the rate without clearness in a choice of planning priorities for today. Hence and because of ascending direction of indicator chart we assume a possibility of attainment of resistance range 2.0040/60, 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 1.9960/80, 1.9900/20 and/or further breakout variant up to 1.9840/60, 1.9760/80, 1.9700/20.



JPY
The pre-planned breakout variant for sells has been realized but with considerably negative oversold factor that did not promote to attainment of minimal calculated target. OsMA trend indicator having marked the confirmative bullish reversal signal with considerable strengthening of bullish activity is a firm ground to choose corresponding planning priorities for today. Hence and because of descending direction of indicator chart we assume a possibility of pair return to supports 104.30/50, 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 104.90/105.10, 105.40/60 and/or further breakout variant up to 106.00/20, 106.40/60. An alternative for sells will be below 103.60 with the targets 103.00/20, 102.60/80.



EUR
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 formation of reversal bullish signal with a preservation of bearish advantage gives grounds to continue rate correction period to the nearest resistance range 1.5880/1.5900, where it is recommended to evaluate the activity development of both parties according to the charts of shorter time interval. For short-term sells on condition of formation of topping signals the targets will be 1.5820/40, 1.5770/90 and/or further breakout variant up to 1.5710/30, 1.5640/60, 1.5600/20. An alternative for buyers will be above 1.5945 with the targets 1.5980/1.6000, 1.6020/40.

Published on  Thu, Jul 17 2008, 08:23 GMT

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