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Forex Analysis on Majors

Everything is decided on Monday.

Mon, May 4 2009, 08:27 GMT
by Igor Kulaga

Forex Ltd  |  View company's profile

EUR
The estimated test of key supports for the implementation of pre-planned long positions has not been confirmed, but low activity of both parties as a result of the last trading day gives grounds for today’s preservation of trading plans made before but with slight corrections. On the assumption of it we can assume the probability of rate resumption to Ichimoku cloud borders at 1,3220/40 levels, where it is recommended to evaluate development of activity of both parties in accordance with the charts of a shorter time interval. As for the short-term buying positions, on condition of the formation of topping signals, the targets will be 1,3280/1,3300, 1,3360/80, 1,3400/20 and (or) further break-out variant up to 1,3460/80, 1,3540/60, 1,3660/1,3700. The alternative for sales will be below 1,3160 with the targets of 1,3100/20, 1,3020/40, 1,2960/80.



CHF

The estimated test of key resistance range levels has not been confirmed; but the situation in alignment of forces of both parties as the result of the last trading day keeps almost invariable and it gives grounds to slight corrections of trading plan made before as well as for today. On the assumption of it we can assume probability of rate resumption to the nearest Ichimoku cloud border at 1,1380/1,1400 levels, where it recommended to evaluate development of the activity of both parties in accordance with the charts of a shorter time interval. As for the short-term sales, on condition of the formation of topping signals, the targets will be 1,1320/40, 1,1260/80 and (or) further break-out variant up to 1,1200/20, 1,1120/40, 1,1000/40. The alternative for buyers will be above 1,1440 with the targets of 1,1480/1,1500, 1,1540/60, 1,1600/20.


GBP

The pre-planned break-out variant for buyers has been implemented with the overlap of minimal anticipated target, OsMA trend indicator marks parity in the activity of both parties according to the chosen strategy gives grounds to suppose the probability of rate range movement without clarifying the choice of planning priorities for today. On the assumption of it as well of the sign of topping bearish signal we can assume probability of today’s rate resumption to the nearest Ichimoku cloud border at 1,4780/1,4800 levels, where it is recommended to evaluate the development of the activity of both parties in accordance with the charts of a shorter time interval. As for the short-term buying positions on condition of the formation of topping signals the targets will be 1,4860/80, 1,4940/60, 1,5060/1,5100 and (or) further break-out variant up to 1,5160/80, 1,5240/60, 1,5340/1,5400. The alternative for sales will be below 1, 4720 with the targets of 1,4640/60, 1,4580/1,4600, 1,4480/1,4520.



JPY


The estimated test of key supports for the implementation of pre-planned long positions has not been confirmed, and further developments including the last week top’s renewal against the background of rate overbought were not the positive moment for implementation of break-out variant for buyers. At the moment, considering relative strengthening of bearish resistance level as well as keeping to the priority of bullish direction of planning we can assume probability of rate resumption to 99,00/20 supports where it is recommended to evaluate the development of the activity of both parties in accordance with the charts of a shorter time interval. As for the short-term buying positions on condition of the formation of topping signals the targets will be 99,60/80 and (or) further break-out variant up to 100,20/40, 100,80/101,00.The alternative for sales will be below 98,60 with the targets 98,00/20, 97,40/60.

Published on  Mon, May 4 2009, 08:30 GMT