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Forex Analysis on Majors

74caaea5-4935-442b-9f72-4b2ae7213f38

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Additional Potential for Euro

Thu, Jul 2 2009, 07:22 GMT
by Igor Kulaga

Forex Ltd

EUR

The pre-planned break-out variant for buyers has been implemented with achievement of minimal anticipated target. OsMA trend indicator, having marked relative bullish activity rise at break-out of key resistance range levels gives grounds to bullish activity priority for planning priority choice for today. Hence and considering downside indicator trend we can assume probability of another rate return to channel support “1” contained in 1,4060/80 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 buying positions on condition of the formation of topping signals the targets will be 1,4120/40, 1,4200/20 and (or) further break-out variant up to 1,4260/80, 1,4320/40. The alternative for sales will be below 1,4020 with targets of 1,3960/80, 1,3900/20, 1,3840/60.

CHF

The pre-planned break-out variant for sales has been implemented with achievement of minimal anticipated target. OsMA trend indicator, having marked relative bearish activity rise at break-out key support level as a sign of rate fall incompleteness argues for sales priority for planning priority choice for today. Hence and considering upside indicator trend we can assume probability of rate return to close 1,0780/1,0800 resistance range 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 1,0720/40, 1,0640/60, 1,0580/1,0600 and (or) further break-out variant up to 1,0520/40, 1,0460/80, 1,0400/20. The alternative for buyers will be above 1,0900 with targets of 1,0940/60, 1,1000/20.

GBP

The pre-planned break-out variant for buyers has been implemented, but with damage to achievement of minimal anticipated target. OsMA trend indicator, having marked relative bullish activity rise at break-out of key resistance range levels, nevertheless, in the bigger picture, is not a significant sign for changing planning priorities favoring buyers. Hence, estimating strengthening of buying activity as a sign of rate correction incompleteness on condition of preservation of sales priority we can assume probability of rate return to 1,6540/60 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 1,6460/80, 1,6400/20, 1,6340/60 and (or) further break-out variant up to 1,6280/1,6300, 1,6220/40, 1,6140/60. The alternative for buyers will be above 1,6620 with targets of 1,6660/80, 1,6720/40.

JPY

The estimated test of key supports has been confirmed, but relative bearish activity rise marked by OsMA trend indicator did not favor implementation of pre-planned buying positions. Hence and considering close activity parity of both parties as a sign of probable range rate and considering bearish activity rise as sign of rate fall incompleteness, we can assume probability of rate return to close 96,10/20 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 short-term buying positions on condition of the formation of topping signals the targets will be 96,60/80, 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 95,80 with targets of 95,20/40, 94,60/80.

Published on  Thu, Jul 2 2009, 07:28 GMT