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Forex Analysis on Majors

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People's Bank of China Urges the US Government to Consider its Policy Influence on the World Economy

Thu, Dec 4 2008, 08:10 GMT
by Igor Kulaga

Forex Ltd

EUR

The assumed test of key resistance range for the realization of the pre-planned positions for sell was not confirmed. OsMA trend indicator, having marked minimal advantage of bearish activity nevertheless does not give definiteness in the choice of planning priorities for today. Hence and considering the assumptions about possible range rate movement and the descending direction of indicator chart we assume the possibility of attainment 1.2580/1.2600, 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 1.2660/80, 1.2720/40, 1.2800/20 and/or further breakout variant up to 1.2860/80, 1.2920/40, 1.3000/20, 1.3060/80. An alternative for sells will be below 1.2540 with targets 1.2480/1.2500, 1.2400/20, 1.2340/60.

CHF

The pre-planned breakout variant for buyers was realized with attainment of minimal assumed target. OsMA trend indicator, having marked activity parity of both parties gives reasons for assumptions about possible range rate movement without definiteness in the choice of planning priorities for today. Hence and considering the ascending direction of indicator chart we assume the possibility of rate return to close 1.2140/60 tops, 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 1.2080/1.2100, 1.2020/40, 1.1980/1,2000 and/or further breakout variant up to 1.1920/40, 1.1860/80, 1.1800/20, 1.1740/60. An alternative for buyers will be above 1.2220 with targets 1.2260/80, 1.2300/20.

GBP

The pre-planned breakout variant for sells was realized but without attainment of assumed targets. OsMA trend indicator, having marked signs of pair oversold nevertheless did not display the sustained level of bullish resistance as a confirming sign of the possible deep rate correction. Hence and observing the priority of bearish direction of development targeting at trading risks decrease we assume the possibility of rate return to 1.4800/40 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 1.4720/40, 1.4640/60, 1.4500/60 and/or further breakout variant up to 1.4420/40, 1.4340/60, 1.4200/20. An alternative for buyers will be above 1.4900 with targets 1.4980/1.5000, 1.5060/80, 1.5140/60.

JPY

The assumed test of key resistance range for the realization of the pre-planned positions for sell was not confirmed. OsMA trend indicator, having marked low activity level of both parties gives reasons for assumptions about range rate movement without definiteness in the choice of planning priorities. Hence and considering the descending direction of indicator chart and the situation of certain minimal advantage of bullish party we assume the possibility of another channel signal “1” test at 92.00/20 range, 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 92.60/80, 93.20/40 and/or further breakout variant up to 93.80/94.00, 94.40/60, 95.00/20. An alternative for sells will be below 91.60 with targets 91.00/20, 90.40/60.

Published on  Thu, Dec 4 2008, 08:13 GMT