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Forex Analysis on Majors

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Another Range for Euro?

Fri, Jul 3 2009, 07:28 GMT
by Igor Kulaga

Forex Ltd

EUR

The pre-planned break-out variant for sales has been implemented with overlap of minimal anticipated target. OsMA trend indicator having marked indefiniteness of bearish development at break of key resistance range levels does not clarify the choice of planning priorities for today. Nevertheless, considering given situation favouring sales, we assume probability of rate return to Senkou Span B line in Ichimoku indicator at levels 1,4000/20, 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 1,3940/60, 1,3900/20 and (or) further break-out variant up to 1,3840/60, 1,3760/80, 1,3700/20. The alternative for buyers will be above 1,4060 with targets of 1,4100/20, 1,6160/80, 1,42000/20.

CHF

The pre-planned break-out variant for long positions has been implemented but with damage to achievement of anticipated targets. OsMA trend indicator having marked indefiniteness of bullish activity at break of key resistance range levels does not clarify the choice of planning priorities for today. Hence and considering chosen strategy case of range movement, we can assume probability of rate return to close 1,0820/40 support 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 buying positions on condition of the formation of topping signals the targets will be 1,0880/1,0900, 1,0940/60, 1,1020/40 and (or) further break-out variant up to 1,1080/1,1100, 1,1140/60, 1,1200/20. The alternative for sales will be below 1,0760 with targets of 1,0700/20, 1,0640/60, 1,0580/1,0600.

GBP

The estimated test of key resistance range levels for implementation of pre-planned short positions has not been confirmed, but at the same time anticipated rate fall did not show signs of definite choice of planning priorities for today. Hence and considering both side activity parity and considering upside indicator trend we cam assume probability of rate return to “1” channel reference point and to close border of Ichimoku cloud contained in 1,6460/1,6500 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 1,6380/1,6400, 1,6280/1,6320, 1,6200/20 and (or) further break-out variant up to 1,6140/60, 1,6080/1,6100, 1,6000/20. The alternative for buyers will be above 1,6560 with targets of 1,6600/20, 1,6680/1,6720.

JPY

The pre-planned break-out variant for sales has been implemented, and achievement of anticipated targets is supported by bearish activity development, shown by OsMA trend indicator at break of key support range levels. At this point considering upside indicator trend, we can assume probability of rate correction period with key border resistance levels of 96,20/40, 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 95,60/80 and (or) further break-out variant up to 95,00/20, 94,40/60, 93,80/94,00. The alternative for buyers will be above 96,80 with targets of 97,20/40, 97,80/98,00, 98,40/60.

Published on  Fri, Jul 3 2009, 07:33 GMT