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Forex Analysis on Majors

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Euro is still Weak in expectation of interest rate decrease by ECB.

Wed, Jan 14 2009, 08:11 GMT
by Igor Kulaga

Forex Ltd

EUR

The pre-planned breakout variant for sells was realized but with damage to several points in attainment of minimal assumed target. OsMA trend indicator, having marked current week Low by formation of reverse signal with further relative buying activity rise gives reasons for changing planning priorities in favor of buys. At the moment and considering current bullish development cycle according to indicator version we assume the possibility of rate return to close 1.3260/80 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 1.3320/40, 1.3380/1.3400 and/or further breakout variant up to 1.3460/80, 1.3520/40, 1.3580/1.3600. An alternative for sells will be below 1.3200 with targets 1.3140/60, 1.3080/1.3100.

CHF

The assumed test of key supports for the realization of the pre-planned buying positions was not confirmed and marked by OsMA trend indicator attainment of current week high with signs of strong pair overbought and relative bearish resistance rise gives reasons for assumptions about further rate correction period but with preservation of buying planning priorities for today as well. Hence and considering the descending direction of indicator chart we assume the possibility of rate fall to 1.1040/60 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 1.1100/20, 1.1160/80, 1.1240/60 and/or further breakout variant up to 1.1300 with targets 1.1360/80, 1.1440/60, 1.1520/40, 1.1580/1.1600. An alternative for sells will be below 1.1000 with targets 1.0940/60, 1.0860/80, 1.0780/1.0800.

GBP

The pre-planned breakout variant for sells was realized with attainment of basic assumed targets. OsMA trend indicator, having marked relative bullish activity rise but within general activity parity of both parties gives reasons for assumptions about possible rate range movement without definiteness in the choice of planning priorities for today. Hence we assume the possibility of rate return to Low of the current week at 1.4480/1.4520, 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 1.4580/1.4600, 1.4680/1.2720 and/or further breakout variant up to 1.4780/1.4800, 1.4860/80, 1.4900/20. An alternative for sells will be below 1.4320 with targets 1.4240/60, 1.4100/40, 1.3980/1.4020.

JPY

The pre-planned positions for sell from key resistance range were realized with attainment of minimal assumed target. OsMA trend indicator, having marked bullish party advantage nevertheless does not give definiteness in the choice of planning priorities for today. Hence and considering the chosen strategy based on assumptions about possible range rate movement we assume the possibility of pair return to 88.80/89.00, 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 89.40/60, 90.00/40 and/or further breakout variant up to 89.40/60, 90.00/40. An alternative for sells will be below 88.40 with targets 87.80/88.00, 87.20/40, 86.80/87.00.

Published on  Wed, Jan 14 2009, 08:14 GMT