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Forex Analysis on Majors

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FOMC, ECB, BOE, SNB, BOC and PBOC Took Actions for Strengthening Euro and Pound

Thu, Oct 9 2008, 09:11 GMT
by Igor Kulaga

Forex Ltd

EUR

The pre-planned breakout variant for buyers was realized with overlap of minimal assumed target. OsMA trend indicator, having marked the activity fall of both parties as before does not provide definiteness in the choice of planning priorities for today but gives reasons for the preservation of earlier drawn up trading plans practically unchanged. Hence, as before we assume the possibility of pair return to 1.3480/1.3500 supports, where it is recommended to evaluate the activity development of both parties according to the charts of shorter time interval. For short-term buying positions on condition of formation of topping signals the targets will be 1.3540/60, 1.3600/20, 1.3660/80 and/or further breakout variant up to 1.3720/40, 1.3780/1.3800. An alternative for sells will be below 1.3400 with targets 1.3340/60, 1.3260/80, 1.320/20.

CHF

The pre-planned breakout variant for sells was realized with attainment of minimal assumed target. OsMA trend indicator, having marked low activity level of both parties does not provide definiteness in the choice of planning priorities for today. Hence considering the chosen strategy based on assumptions about the possible range rate movement we assume the possibility of close supports attainment contained by the bottom of Ichimoku cloud at 1/1200/20, where it is recommended to evaluate the activity development of both parties according to the charts of shorter time interval. For short-term buying positions on condition of formation of topping signals the targets will be 1.1260/80, 1.1320/40, 1.1380/1.1400 and/or further breakout variant up to 1.1460/80, 1.1500/20. An alternative for sells will be below 1.1140 with targets 1.1080/1.1100, 1.1020/40, 1.0980/1.1000.

GBP

The pre-planned breakout variant for sells was realized with attainment of basic assumed targets. OsMA trend indicator, having marked bearish activity advantage gives reasons for supporting sells planning priorities for today. At the moment considering the sign of local correction incompleteness we assume the possibility of pair return to close 1.7300/20 resistance range, 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 1.7220/40, 1.7160/80 and/or further breakout variant up to 1.7100/20, 1.7040/60, 1.6980/1.7000. An alternative for buyers will be above 1.7460 with targets 1.7500/20, 1.7580/1.7600, and 1.7660/80.

JPY

The pre-planned positions for sell from key resistance range were realized with attainment of basic assumed targets. OsMA trend indicator, having formally marked relatively high activity level of both parties in close parities does not provide definiteness in the choice of planning priorities for today. Hence considering the direction of the general tendency and the sign of bullish development incompleteness we assume the possibility of short-term break of the channel signal “1” with attainment of 101.60/80, where it is recommended to evaluate the activity development of both parties according to the charts of shorter time interval. For short-term sells on condition of formation of topping signals the targets will be 100.80/101.00, 100.20/40, 99.80/100.00 and/or further breakout variant up to 99.20/40, 98.60/80, 98.00/20. An alternative for buyers will be above 102.60 with targets 103.00/20, 103.60/80, 104.20/40.

Published on  Thu, Oct 9 2008, 09:24 GMT