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Forex Analysis on Majors

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EURO is still under pressure expecting refinancing tender cut

Wed, Jan 7 2009, 08:07 GMT
by Igor Kulaga

Forex Ltd

EUR

The pre-planned breakout variant for sells has been realized with attainment of main assumed targets. OsMA trend indicator having marked the Low of current week with a formation of reversal bullish signal with consequent rise of buyers’ activity because of chosen strategy gives grounds to choose a priority of buyers’ planning for today. Hence and taking into account the descending direction of indicator chart, we assume a possibility of pair return to the nearest supports 1.3440/60, where it is recommended to evaluate the activity development according to the charts of shorter time interval. For short-term buyers’ positions on condition of formation of topping signals the targets will be 1.3500/20, 1.3560/80, 1.3620/40 and/or further breakout variant up to 1.3680/1.3700, 1.3780/1.3800, 1.3920/40. An alternative for sells will be below 1.3380 with the targets 1.3320/40, 1.3260/80.

CHF

The pre-planned breakout variant for buyers has been realized with attainment of minimal assumed target. OsMA trend indicator having marked the attainment of weekly top with the features of overbought factor with consequent relative activity rise of bearish party gives grounds to presume further period of rate correction with an argument of planning priorities in favor of sells for today. Hence at present taking into account the ascending direction of indicator chart we assume a possibility of pair return to the nearest resistance range 1.1190/1.1210, 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 1.1120/40, 1.1040/60, 1.0980/1.1000 and/or further breakout variant up to 1.0920/40, 1.0860/80, 1.0800/20. An alternative for buyers will be above 1.1340 with the targets 1.1380/1.1400, 1.1460/80, 1.1580/1.1600.

GBP

The pre-planned buyers’ positions from the key supports have been realized with attainment of assumed targets. OsMA trend indicator having marked the advantage of development of bullish party continues to support the priority of buyers’ planning for today. Hence and because of current bearish development according to OsMA version, we assume a possibility of pair return to the nearest supports 1.4820/40, where it is recommended to evaluate the activity development according to the charts of shorter time interval. For short-term buyers’ positions on condition of formation of topping signals the targets will be 1.4880/1.4900, 1.4960/80, 1.5020/40 and/or further breakout variant up to 1.5080/1.5100, 1.5160/80, 1.5280/1.5300. An alternative for sells will be below 1.4700 with the targets 1.4620/40, 1.4560/80, 1.4480/1.4500.

JPY

The pre-planned breakout variant for buyers has been realized with attainment of main assumed targets. OsMA trend indicator having marked the features of advantage of bearish party generally does not give grounds to choose a priority of sells’ planning. Hence because of chosen strategy and presumptions about incompletion of rate correction period we assume a possibility of rate return to the nearest supports 93.00/20, where it is recommended to evaluate the activity development of both parties according to the charts of shorter time interval. For short-term buyers’ positions on condition of formation of topping signals the targets will be 93.60/80, 94.20/40, 94.80/95.00 and/or further breakout variant up to 95.40/60, 96.00/20, 96.60/80. An alternative for sells will be below 92.00 with the targets 91.40/60, 90.80/91.00, 89.80/90.00.

Published on  Wed, Jan 7 2009, 08:09 GMT