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Forex Analysis on Majors

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Dollar Buys are still more Prospective

Wed, Nov 19 2008, 08:42 GMT
by Igor Kulaga

Forex Ltd

EUR

Activity fall of both parties as the result of the previous trading day was not positive for the realization of the earlier drawn up trading planes. Hence and considering the chosen strategy as before we assume further range rate movement with a possible test of close supports at 1.2500/20, 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 1.2560/80, 1.2620/40, 1.2700/20 and/or further breakout variant up to 1.2760/80, 1.2820/40, 1.2900/20. An alternative for sells will be below 1.2460 with targets 1.2400/20, 1.2340/60, 1.2280/1.2300.

CHF

The pre-planned buying positions from key supports were realized with overlap of minimal assumed target. OsMA trend indicator, having marked low activity level of both parties with preservation of ascending rate direction as the sign of pair overbought nevertheless without resistance reaction of bearish party gives reasons for the preservation of the current tendency but with risk of abrupt situation change in favor of sells. Hence and considering the chosen strategy aiming at trading risks decrease we assume the possibility of pair return to close 1.2000/20 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 1.2060/80, 1.2100/20 and/or further breakout variant up to 1.2160/80, 1.2240/60, 1.2300/20. An alternative for sells will be below 1.1960 with targets 1.1900/20, 1.1830/50, 1.1760/80, 1.1700/20.

GBP

The pre-planned buying positions from key supports were realized with attainment of minimal assumed target. OsMA trend indicator, having marked low activity level of both parties gives reasons for assumptions about incomplete pair correction and further rate fall within Ichimoku cloud at 1.4840/60, 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 1.4920/40, 1.5000/20 and/or further breakout variant up to 1.5080/1.5100, 1.5160/80, 1.5240/60, 1.5300/20. An alternative for sells will be below 1.4760 with targets 1.4660/80, 1.4580/1.4600, and 1.4500/20.

JPY

The assumed test of key supports for the realization of the pre-planned buying positions was not confirmed but the expected rate rise displayed relative bullish activity strengthening and considering the chosen strategy gives reasons for the preservation of this direction while planning trading operations for today. Hence and considering the current bearish cycle incompleteness according to OsMA indicator version we assume the possibility of possible test of close 96.00/10 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 96.50/60, 96.90/97.00, 97.40/60 and/or further breakout variant up to 98.00/20, 98.60/80, 99.00/20. An alternative for sells will be below 95.60 with targets 95.00/20, 94.40/60, 93.80/94.00.

Published on  Wed, Nov 19 2008, 08:44 GMT