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Forex Analysis on Majors

Bullish Priorities for Euro Are Dubious

Thu, May 28 2009, 07:27 GMT
by Igor Kulaga

Forex Ltd  |  View company's profile

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EUR

The pre-planned break-out variant for sales has been implemented with the achievement of minimal anticipated target. OsMA trend indicator marks preservation of close activity parity of both parties and gives grounds to suppose further rate range movement period within Ichimoku cloud borders without clarifying the choice of planning priorities for today.On the assumption of it as well as of the ascending direction of indicator chart we can assume probability of rate return to channel line “1” at 1,3860/80 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 short-term sales on condition of the formation of topping signals the targets will be 1,3800/20, 1,3740/60, 1,3680/1,3700 and (or) further break-out variant up to 1,3620/40, 1,3560/80, 1,3500/20. The alternative for buyers will be below 1,3960 with the targets of 1,4000/20, 1,4060/80, 1,4120/40.

CHF

The pre-planned short positions from key resistance range levels have been implemented with minimal overlap of estimated target. OsMA trend indicator marks preservation of close parity of activity of both parties at rate position within Ichimoku cloud borders and gives grounds to suppose further rate range movement without clarifying the choice of planning priorities for today. On the assumption of it as well as of descending direction of indicator chart we can assume probability of rate return to close Ichimoku cloud border at 1,0880/1,0900  levels where it is 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 1,0940/60, 1,0980/1,1000 and (or) further break-out variant up to 1,1040/60, 1,1100/20, 1,1160/80. The alternative for sales will be below 1,0860  with the targets of 1,0800/20, 1,0740/60, 1,0680/1,0700.

GBP

The pre-planned break-out variant for buyers has been implemented but the signs of rate overbought did not incline to further preservation of long positions. At the moment, considering the current situation as a close activity parity of both parties but with a slight strengthening of bearish resistance level we can assume probability of rate return to close Ichimoku cloud borders at 1,5820/40 levels, where it is 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 buying positions on condition of formation of topping signals the targets will be 1,5880/1,5900, 1,5960/80, 1,6040/80  and (or) further break-out variant up to 1,6060/80, 1,6140/60, 1,6220/40. The alternative for sales will be below 1,5760  with the targets of 1,5700/20, 1,5620/40, 1,5580/1,5600.

JPY

The pre-planned long positions from key supports have been implemented with the achievement of main anticipated targets. OsMA trend indicator marks relative growth of buying activity at the break of key resistance range levels and gives grounds for the priorities  of bullish direction of planning of trading operations for today. On the assumption of it as well as considering current cycle of bullish activity we can assume probability of rate correction to close 95,80/96,00 supports  where it is recommended to evaluate development of the activity of both parties in accordance with the charts of a shorter time interval. As for short-term buying positions on condition of formation of topping signals the targets will be 96,40/60, 97,00/20 and (or) further break-out variant up to 97,60/80, 98,20/40, 98,80/99,00.The alternative for sales will be below 95,20  with the targets of  94,60/80, 93,80/94,00.

Published on  Thu, May 28 2009, 08:18 GMT

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