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Forex Analysis on Majors

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Euro's Bullish Potential Is under the Threat

Wed, Jul 1 2009, 07:09 GMT
by Igor Kulaga

Forex Ltd

EUR

The pre-planned break-out variant for buyers has been implemented with loss in the achievement of anticipated targets. OsMA trend indicator having marked the current week top by formation of topping bearish signal with further relative sales activity rise gives grounds to suppose further rate fall as well as further preservation of bearish planning priorities. At the moment, considering ascending direction of indicator chart we can assume probability of rate return to close 1,4060/80 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 1,4000/20, 1,3940/60 and (or) further break-out variant up to  1,3880/1,3900, 1,3820/40, 1,3740/60. The alternative for buyers will be above 1,4160 with the targets of 1,4200/20, 1,4260/80, 1,4320/40.

CHF

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 moment for the immediate implementation of pre-planned short positions. Nevertheless, without considerable signs for choice of planning priorities favouring to any party we can suppose probability of further rate range movement period of the pair with return to Senkou Span B line of Ichimoku indicator at 1,0820/30 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 buying positions on condition of formation of topping signals the targets will be 1,0870/80, 1,0920/30 and (or) further break-out variant up to 1,0970/80, 1,1020/40, 1,1080/1,1100. The alternative for sales will be below 1,0760 with the targets of 1,0700/20, 1,0640/60, 1,0580/1,0600.

GBP

The estimated rate return to key supports has been confirmed but considerable bearish activity rise marked by OsMA trend indicator was not the positive moment for the implementation of pre-planned long positions but it is also the ground for changing of planning priorities favouring to bearish party. Therefore, at the moment, considering ascending direction of OsMA trend indicator we can assume probability of rate return to close 1,6460/1,6500 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 sales on condition of formation of topping signals the targets will be 1,6380/1,6400, 1,6280/1,6320, 1,6180/1,6220  and (or) further break-out variant up to ,6100/40, 1,6020/40, 1,5900/20.The alternative for buyers will be above 1,6620 with the targets of 1,6660/80, 1,6720/40.

JPY

The pre-planned break-out variant for buyers has been implemented but without the achievement of estimated targets. OsMA trend indicator, having marked as the positive moment the preservation of bullish priority but with negative moment of marked signs of rate overbought gives additional risks to the preservation of opened long positions but it is not the ground to close them. Therefore, at the moment we can assume probability of rate return to close 96,50/60 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 the formation of topping signals the targets will be 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 96,20  with the targets of 95,60/80, 94,80/95,20.

Published on  Wed, Jul 1 2009, 07:18 GMT