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Forex Analysis on Majors

9a52841d-d399-4086-a36b-31e4c5ac9dc6

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Euro Is Facing a Choice

Tue, Jun 30 2009, 07:17 GMT
by Igor Kulaga

Forex Ltd

EUR

The estimated test of key resistance range levels has been confirmed on condition for the implementation of pre-planned short positions. OsMA trend indicator having marked the formation of topping bearish signal at the attainment of key resistance range levels and gives grounds for the preservation of opened short positions with slight corrections of targets according to trading plan made before. For opened sales the targets will be 1,4020/40, 1,3960/80 and (or) further break-out variant up to 1,3900/20, 1,3820/40, 1,3760/80. The alternative for sales will be above 1,4140 with the targets of 1,4180/1,4200, 1,4240/60, 1,4300/20.

CHF

Long positions opened and saved before had positive result in the attainment of minimal estimated target. OsMA trend indicator having marked further activity fall of both parties and does not clarify the choice of planning priorities for today. Therefore, considering the suppositions of rate range movement we can assume probability of rate return to 1,0860/80 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 short-term sales on condition of formation of topping signals the targets will be 1,0800/20, 1,0760/80  and (or) further break-out variant up to 1,0700/20, 1,0640/60, 1,0580/1,0600. The alternative for buyers will be above 1,0920 with the targets of 1,0960/80, 1,1020/40, 1,1080/1,1100.

GBP

The pre-planned short positions from key resistance range levels were implemented but with loss in the attainment of estimated targets. OsMA trend indicator, having marked activity fall of both parties and does not clarify the choice of planning priorities for today.  Therefore, considering the suppositions of rate range movement we can assume another rate return to channel line “1” at 1,6500/40 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 1,6600/20, 1,6660/80  and (or) further break-out variant up to 1,6740 with targets of 1,6780/1,6800, 1,6860/80, 1,6960/1,7000.The alternative for sales will be below 1,6380 with the targets of 1,6300/20, 1,6220/40, 1,6160/80.

The estimated test of key resistance range levels has been confirmed but relative bullish activity rise, marked by OsMA trend indicator was not the positive signal for the implementation of pre-planed short positions. Therefore, at the moment, considering the suppositions of bullish activity incompleteness as well as signs of activity parity of both parties as probable rate range movement, we can assume further test of 96,00/20 key range resistance 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 short-term sales on condition of the formation of topping signals the targets will be 95,40/60, 94,80/95,00 and (or) further break-out variant up to 94,20/40, 93,60/80. The alternative for buyers will be above 96,80  with the targets of 97,20/40, 97,80/98,00, 98,40/60.

Published on  Tue, Jun 30 2009, 07:29 GMT