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Forex Analysis on Majors

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Further Interest Rate Decrease in Japan may Cause Various Problems on the Market

Tue, Dec 2 2008, 08:32 GMT
by Igor Kulaga

Forex Ltd

EUR

The pre-planned test of key resistance range for realization of the pre-planned sells positions was not confirmed and rate fall with signs of its strong oversold was not favorable as well for short positions breakout variant realization. Nevertheless at the moment there are no reasons for changing planning priorities in bullish direction hence as before we assume the possibility of Ichimoku cloud boundary attainment at 1.2740/60, where it is recommended to evaluate the activity development of both parties according to the charts of shorter time interval. For sells on condition of formation of topping signals the targets will be 1.2680/1.2700, 1.2600/20, 1.2560/80 and/or further breakout variant up to 1.2500/20, 1.2440/60, 1.2380/1.2400, 1.2320/40. An alternative for buyers will be above 1.2840 with targets 1.2880/1.2900, 1.2940/60, 1.3020/40, 1.3080/1.3100.

CHF

The assumed test of key supports was confirmed with conditions for buying positions realization. OsMA trend indicator, having marked in short-term outlook preservation of certain bearish party advantage gives reasons for further rate fall within Ichimoku cloud boundaries but with preservation of buying planning priorities for today as well. Hence we assume the possibility of attainment 1.1980/12000 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 1.2040/60, 1.2100/20 and/or further breakout variant up to 1.2160/80, 1.2200/20, 1.2260/80, 1.2300/20. An alternative for sells will be below 1.1950 with targets 1.1890/1.1910, 1.1820/40, 1.1740/60.

GBP

The pre-planned breakout variant for sells was realized with attainment of basic assumed targets. OsMA trend indicator, having marked bearish party advantage at the break of Senkou Span A and B lines gives reasons for the preservation of bearish planning direction for today as well. At the moment considering relative bullish activity rise we assume the possibility of attainment close 1.5020/60 resistance range, where it is recommended to evaluate the activity development of both parties according to the charts of shorter time interval. For sells on condition of formation of topping signals the targets will be 1.4920/40, 1.4800/20, 1.4680/1.4720 and/or further breakout variant up to 1.4580/1.4620, 1.4480/1.4500, 1.4400/20. An alternative for buyers will be above 1.5140 with targets 1.5200/40, 1.5320/40, 1.5400/20.

JPY

The pre-planned breakout variant for sells was realized with overlap of assumed targets. OsMA trend indicator, having marked essential bearish activity rise at the break of key supports continues supporting sells planning priority for today. At the moment considering relative bearish resistance rise we assume the possibility of rate correction period incompleteness with another test of 93.80/94.00 resistance levels, where it is recommended to evaluate the activity development of both parties according to the charts of shorter time interval. For sells on condition of formation of topping signals the targets will be 93.20/40, 92.60/80 and/or further breakout variant up to 92.00/20, 91.40/60, 90.80/91.00. An alternative for buyers will be above 94.40 with targets 94.80/95.00, 95.40/60, 96.00/20.

Published on  Tue, Dec 2 2008, 08:34 GMT