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Forex Analysis on Majors

Euro Continues Falling

Mon, Jul 13 2009, 07:12 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, and achievement of pre-planned targets is supported by relative sales activity rise marked by OsMA trend indicator at the break of key supports. Therefore, at this point, considering current bearish activity cycle, it is recommended to preserve open short positions with the targets of 1,3820/40, 1,3740/60 and (or) further break-out variant up to 1,3680/1,3700, 1,3620/40, 1,3560/80. The alternative for buyers will be above 1,4040 with the targets of 1,4080/1,4100, 1,4140/60, 1,4200/20.

CHF

The estimated test of key resistance range levels has been confirmed, but relative bullish activity rise, marked by OsMA trend indicator, has not become a positive moment for pre-planned long positions. At this point, considering bullish activity priority and downside trend of active sales, and considering the chosen strategy, we can suppose choosing of bullish direction for planning of trading operations for today. Hence and considering current cycle of bullish activity, we can assume probability of rate return to close 1,0840/50 support 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 1,0890/1,0920, 1,0980/1,1020 and (or) further break-out variant up to 1,1060/80, 1,1120/40, 1,1180/1,1220. The alternative for sales will be below 1,0790 with the targets of 1,0720/40, 1,0640/60, 1,0580/1,0600.

GBP

The estimated test of key supports has been confirmed, but relative bullish activity rise, marked by OsMA trend indicator, has not become a positive moment for immediate implementation of pre-planned long positions. At this point, considering developed activity parity of both parties, we can assume probability of further rate range movement within the borders of Ichimoku cloud with test of Senkou Span B line contained in 1,6200/40 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 1,6100/40, 1,602/040, 1,5960/80 and (or) further break-out variant up to 1,5900/20, 1,5840/60, 1,5780/1,5800. The alternative for buyers will be above 1,6300 with the targets of 1,6360/80, 1,6440/60, 1,6500/20.

JPY

The estimated test of key resistance range levels for implementation of pre-planned short positions has not been confirmed by now, considering low activity of both parties and preservation of bearish trend priority, earlier designed planning of trading operations remain unchanged. Hence, we can assume probability of test of close Ichimoku cloud border contained in 93,20/40 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 92,60/80, 92,00/20, 91,60/80 and (or) further break-out variant up to 91,00/20, 90,40/60, 89,80/90,00. The alternative for buyers will be above 94,40 with the targets of 94,80/95,00, 95,60/80.

Published on  Mon, Jul 13 2009, 07:17 GMT

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