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Forex Analysis on Majors

BoJ and RBA have announced today their interest rates

Tue, Apr 7 2009, 07:42 GMT
by Igor Kulaga

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CHF

The pre-planned breakout variant for buyers has been realized with overlap of minimal assumed targets. OsMA trend indicator having marked the tendency of strengthening of buyers’ activity gives grounds to choose buying planning priorities for today. Hence and because of descending direction of indicator chart, we assume a possibility of rate return to the nearest supports 1.1320/40, 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 1.1380/1.1400 and/or further breakout variant above 1.1420 with the targets 1.1460/80, 1.1540/60. An alternative for sells will be below 1.1280 with the targets 1.1220/40, 1.1160/80.



GBP

The pre-planned breakout variant for sells has been realized with attainment of main assumed targets. OsMA trend indicator having marked the activity rise of sells at the break of key supports because of chosen strategy gives grounds to choose bearish planning priorities for today. At present taking into account the oversold factor, we assume a possibility of rate return to resistance range 1.4760/1.4800, where it is recommended to evaluate the activity development according to the charts of shorter time interval. For sells on condition of formation of topping signals the targets will be 1.4680/1.4700, 1.4580/1.4620, 1.4480/1.4520 and/or further breakout variant up to 1.4400/20, 1.4280/1.4320, 1.4160/1.4220. An alternative for buyers will be above 1.4840 with the targets 1.4880/1.4900, 1.4960/80, 1.5020/40.



JPY

The assumed test of the key supports for the realization of the pre-planned buyers’ positions has not been confirmed but the activity parity of both parties reveled by OsMA indicator gives grounds to preserve earlier composed trading plans almost without changes. Hence we assume a possibility of rate return to supports 100.00/20, where it is recommended to evaluate the activity development of both parties according to the charts of shorter time interval. For short-term buying positions on condition of formation of topping signals the targets will be 100.60/80, 101.20/40 and/or further breakout variant up to 101.80/102.00, 102.40/60, 103.00/20. An alternative for sells will be below 99.60 with the targets 99.00/20, 98.40/60, 97.80/98.00.



EUR

The pre-planned breakout variant for sells has been realized with attainment of assumed targets. OsMA trend indicator having marked the relative rise of sells’ activity because of chosen strategy gives grounds to change planning priorities in favor of bearish party. At present taking into account the reversal moment of indicator chart, we assume a possibility of rate return to the nearest resistance range 1.3400/20, where it is recommended to evaluate the activity development of both parties according to the charts of shorter time interval. For sells on condition of formation of topping signals the targets will be 1.3340/60, 1.3280/1.3300 and/or further breakout variant up to 1.3220/40, 1.3160/80, 1.3080/1.3120. An alternative for buyers will be above 1.3480 with the targets 1.3520/40, 1.3580/1.3600.

Published on  Tue, Apr 7 2009, 07:46 GMT