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Forex Analysis on Majors

Dollar Rises against Yen but Decreases against Euro and Pound.

Mon, Jan 19 2009, 08:23 GMT
by Igor Kulaga

Forex Ltd  |  View company's profile

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EUR

The pre-planned positions for sell from key support range were realized with attainment of minimal assumed target. OsMA trend indicator, having marked activity fall of both parties gives reasons for assumptions about possible range rate movement within Ichimoku cloud without definiteness in the choice of planning priorities for today. Hence and considering the descending direction of indicator chart we assume the possibility of pair return to the bottom of the cloud at 1.3240/60, 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 1.3300/20, 1.3360/80, 1.3420/40 and/or further breakout variant up to 1.3500/20, 1.3580/1.3600, 1.3700/20. An alternative for sells will be below 1.3140 with targets 1.3080/1.3100, 1.3020/40, 1.2960/80.

CHF

The pre-planned buying positions from key supports were realized with overlap of minimal assumed target. OsMA trend indicator, having marked activity fall of both parties does not provide choice for planning priorities for today. Hence and considering the chosen strategy as well as indicator chart direction we assume the possibility of another test of the tops of the current year at 1.1240/60 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 1.1180/1.1200, 1.1110/30, 1.1050/70 and/or further breakout variant up to 1.0980/1.1000, 1.0900/20, 1.0840/60. An alternative for buyers will be above 1.1320 with targets 1.1380/1.1400, 1.1460/80, 1.1580/1.1600.

GBP

The pre-planned breakout variant for sells was realized but with damage in attainment of assumed targets. OsMA trend indicator, having marked break of key supports by advantage in bearish development gives reasons for priority of the corresponding direction of planning for today. Hence we assume the possibility of close resistance range test at 1.4920/60, 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 1.4820/40, 1.4740/60, 1.4600/40 and/or further breakout variant up to 1.4520/40, 1.4460/80, 1.4350/70.

JPY

The assumed test of key supports for the realization of the pre-planned buying positions was not confirmed but the result of the previous trading day did not give definiteness in the choice of trading operations planning for today. Hence and considering relative strengthening of bearish party and signs of pair overbought we have reasons for the preservation of the earlier drawn up trading planes practically unchanged. We assume the possibility of rate return to 89.70/90 levels, 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 90.40/60, 90.90/91.00 and/or further breakout variant up to 91.40 with targets up to 91.80/92.00, 92.60/80, 93.40/60. An alternative for sells will be below 89.20 with targets 88.60/80, 88.00/20, 87.40/60.

Published on  Mon, Jan 19 2009, 08:27 GMT

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