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Forex Analysis on Majors

Euro Rises against Dollar and Yen in the Scope of Short Positions Closing from European Participants of Trades.

Wed, Mar 4 2009, 08:24 GMT
by Igor Kulaga

Forex Ltd  |  View company's profile

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EUR

The pre-planned breakout variant for sells was realized with attainment of minimal assumed target. OsMA trend indicator, having marked activity parity preservation of both parties does not give definiteness for the sustained choice of planning priorities but “supports” preservation of the current tendency in favor of further rate decrease. Hence at the moment considering ascending direction of indicator chart we assume the possibility of rate return to 1.2520/40 levels range, where it is recommended to evaluate 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 1.2440/60, 1.2380/1.2400 and/or further breakout variant up to 1.2320/40, 1.2260/80. An alternative for buyers will be above 1.2600 with targets 1.2640/60, 1.2700/20, 1.2760/80.

CHF

The assumed test of key supports for the realization of long positions was not confirmed and displayed by OsMA indicator activity parity of both parties does not give definiteness in the choice of planning priorities for today. Hence considering assumptions about current situation preservation we assume the possibility of rate return to close 1.1740/60 supports, where it is recommended to evaluate 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 1.1800/20, 1.1880/1,1900 and/or further breakout variant up to 1.1960/80, 1.2040/60, 1.2160/1.2200, 1.2280/1.2300. An alternative for sells will be below 1.1680 with targets 1.1620/40, 1.1560/80, 1.1480/1.1520.

GBP

The assumed test of key resistance range for the realization of the pre-planned long positions was not confirmed and displayed by OsMA indicator activity fall of both parties does not give definiteness in the choice of planning priorities for today. Hence and considering general situation of slight bearish party advantage we assume the possibility of rate return to close 1.4060/80 levels, where it is recommended to evaluate 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 1.3980/1.4000, 1.3900/20 and/or further breakout variant up to 1.3820/40, 1.3680/1.3720, 1.3500/40. An alternative for buyers will be above 1.4180 with targets 1.4240/60, 1.4300/20, 1.4380/1.4400.

JPY

The pre-planned breakout variant for buyers was realized but with failure of several points in attainment of minimal assumed target. OsMA trend indicator, having marked bullish activity progress after period of low activity of both parties gives reasons as minimum for assumptions about incompleteness of bullish development cycle. Hence and taking into account the chosen strategy as well as risk of sharp situation change in favor of sells we assume the possibility of rate return to close 97.80/98.00 supports, where it is recommended to evaluate 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 98,40/60, 99,00/20 and/or further breakout variant up to 99,60/80, 100,20/40, 100,80/101,00. An alternative for buyers will be above 97,40 с целями 96,80/97,00, 96,20/40, 95,60/80.

Published on  Wed, Mar 4 2009, 08:27 GMT

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