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Forex Analysis on Majors

forecast on majors

Thu, Aug 28 2008, 07:36 GMT
by Igor Kulaga

Forex Ltd

CHF
The pre-planned short positions from the key resistance range have been realized with attainment of minimal assumed target. OsMA trend indicator having marked the close activity parity of both parties does not give grounds to choose planning priorities for today but taking into account the current stage of bearish development with short term oversold factor, we assume a possibility of pair return to the nearest resistance range below bottom boundary of Ichimoku cloud at 1.0930/50, 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 1.0870/90, 1.0810/30 and/or further breakout variant below 1.0800 with the targets 1.0740/60, 1.0700/20. An alternative for buyers will be above 1.1010 with the targets 1.1060/80, 1.1100/20.



GBP
The pre-planned breakout variant for sells has been realized with attainment of assumed targets. OsMA trend indicator having marked the preservation of minimal bearish advantage supports a choice of priorities for planning of short-term sells. Hence taking into account the current ascending direction of indicator chart, we assume a possibility of attainment of the nearest resistance range 1.8410/30, 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 1.8340/60, 1.8280/1.8300 and/or further breakout variant up to 1.8220/40, 1.8140/60, 1.8060/80. An alternative for buyers will be above 1.8500 with the targets 1.8540/60, 1.8580/1.8600.



JPY
The pre-planned short positions from the key resistance range have been realized but with a loss of several points in attainment of minimal assumed target. OsMA trend indicator having marked considerably high level of bullish development gives grounds to incompletion of bullish development. Hence and taking into account the descending direction of indicator chart, we assume a possibility of attainment of supports 108.60/80, where it is recommended to evaluate the activity development of both parties according to the charts of shorter time interval. For short-term buyers’ positions on condition of formation of topping signals the targets will be 109.20/40, 110.60/80 and/or further breakout variant above 110.20 with the targets 110.60/80, 111.00/20. An alternative for sells will be below 108.00 with the targets 107.40/60, 107.00/20.



EUR
The pre-planned buyers’ positions from the key support range have been realized with attainment of main assumed targets. OsMA trend indicator having marked the features of overbought factor with a preservation of buyers’ advantage supports a choice of bullish planning priorities for today. Nevertheless at this point taking into account the active phase of bullish development and insufficient bullish potential to break a channel line “2” to reduce trading risks, we assume a possibility of further movement within the version of descending channel with pair return to supports 1.4760/80, 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 1.4820/40 and/or further breakout variant up to 1.4880/1.4900, 1.4920/40. An alternative for sells will be below 1.4680 with the targets 1.4620/40, 1.4580/1.4600.

Published on  Thu, Aug 28 2008, 07:43 GMT