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Forex Analysis on Majors

market forecast

Fri, Aug 29 2008, 07:04 GMT
by Igor Kulaga

Forex Ltd

CHF
The pre-planned short-term sells from the key resistance range have been realized with attainment of minimal assumed target. OsMA trend indicator having marked further break of boundary resistance range with a strengthening of bullish activity level because of chosen strategy gives grounds to choose buyers’ planning priorities for today. Hence and because of descending direction of indicator chart, we assume a possibility of pair return to supports 1.0900/20, 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 1.0960/80, 1.1010/30 and/or further breakout variant up to 1.1070/90, 1.1110/30. An alternative for sells will be below 1.0880 with the targets 1.0820/40, 1.0780/1.0800.



GBP
The pre-planned breakout variant for sells has been realized with attainment of minimal assumed target. OsMA trend indicator having marked general activity fall of both parties originates the presumptions about further movement within short-term descending channel with a risk of situation change in favor of bullish party. Hence we assume a possibility of test of the nearest resistance levels of Ichimoku line along Kijun-sen at 1.8360/80, 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 1.8300/20, 1.8240/60 and/or further breakout variant up to 1.8180/1.8200. An alternative for buyers will be above 1.8440 with the targets 1.8480/1.8500, 1.8540/60, 1.8600/20.



JPY
The pre-planned buyers’ positions from the key supports have been realized with attainment of main assumed targets. OsMA trend indicator having marked the activity fall of both parties supports the version about further movement within short-term descending channel with a risk of sharp situation change in favor of bullish party. Hence we assume a possibility of rate return to Ichimoku line along Senkou Span at 109.20/30, 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 108.80/90, 108.50/60, 108.00/20 and/or further breakout variant up to 107.40/60, 106.80/107.00. An alternative for buyers will be above 110.00 with the targets 110.40/60, 111.00/20, 111.60/80.



EUR
The pre-planned breakout variant for sells has been realized and the attainment of assumed targets because of chosen strategy is being supported by the relative rise of bearish activity revealed by OsMA indicator at a break of key supports. At present taking into account weak bullish activity, we assume a possibility of further rate movement within descending trading channel with a test of channel line “2” at 1.4800/20, 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 1.4740/60, 1.4680/1.4700 and/or further breakout variant below 1.4660 with the targets 1.4600/20, 1.4560/80. An alternative for buyers will be above 1.4840 with the targets 1.4880/1.4900.

Published on  Fri, Aug 29 2008, 07:13 GMT