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Forex Analysis on Majors

British Government Invests in Banks $37 bln

Mon, Oct 13 2008, 07:57 GMT
by Igor Kulaga

Forex Ltd

EUR

The pre-planned breakout variant for sells was realized with attainment of basic assumed targets. OsMA trend indicator, having marked the essential activity rise of both parties but within boundaries of their parity considering the chosen strategy do not give definiteness in choosing planning priorities for today but gives reasons for assumptions about range rate movement in the close outlook. Hence considering the sign of bearish development incompleteness we assume the possibility of another pair return to the bottom of Ichimoku cloud at 1.3600/20, 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 1.3510/30, 1.3440/40 and/or further breakout variant up to 1.3380/1.3400, 1.3320/40, 1.3240/60. An alternative for buyers will be above 1.3700 with targets 1.3760/80, 1.3840/60, 1.3900/20.

CHF

The pre-supposed key supports test was not confirmed but further situation development with break of boundary levels for buying positions protection was not favorable for the positive realization of earlier drawn up trading planes. OsMA trend indicator, having marked the advantage of bullish activity development gives reasons for the preservation of buying planning priorities for today as well and considering direction of indicator chart we assume the possibility of pair return to close 1.1280/1.1300 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 formation of topping signals the targets will be 1.1340/60, 1.1400/20, 1.1460/80 and/or further breakout variant above 1.1500 with targets 1.1540/60, 1.1590/1.1610. An alternative for sells will be below 1.1200 with targets 1.1140/60, 1.1080/1.1100, and 1.1020/40.

GBP

The pre-planned positions for sell from key resistance range were realized with attainment of basic assumed targets. OsMA trend indicator, having marked relatively high level of bullish activity development nevertheless within the scope of ascending trading channel gives reasons for assumptions about rate correction incompleteness with preservation of bearish planning priorities. Hence we presume the possibility of pair return to the channel signal “1” at 1.7200/20, where it is recommended to evaluate the activity development of both parties according to the charts of shorter time interval. For short-term sells formation of topping signals the targets will be 1.7100/20, 1.7020/40, 1.6960/80 and/or further breakout variant up to 1.6880/1.6900, 1.6800/20, 1.3740/60. An alternative for buyers will be above 1.7260 with targets 1.7300/20, 1.7360/80, 1.7440/60, 1.7500/20.

JPY

The pre-planned positions for sell were realized with attainment of minimal assumed targets. OsMA trend indicator, having marked activity parity of both parties gives reasons for the preservation of earlier drawn up trading planes practically without changes. Hence considering the current bearish activity development we assume the possibility of pair return to close 100.60/80 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 formation of topping signals the targets will be 100.00/20, 99.20/40, 98.40/60 and/or further breakout variant below 97.80 with targets 97.20/40, 96.40/60, 95.80/96.00. An alternative for buyers will be above 102.20 with targets 102.60/80, 103.20/40, 104.00/20, 104.80/105.00, 105.60/80.

Published on  Mon, Oct 13 2008, 08:02 GMT