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Forex Analysis on Majors

Strengthening of EURO Bullish Positions

Fri, Aug 21 2009, 07:01 GMT
by Igor Kulaga

Forex Ltd  |  View company's profile

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EUR

The estimated test of key supports for the implementation of pre-planned buying positions has not been confirmed and preservation of minimal priority of bearish activity according OsMA indicator version keeps trading plans made before almost intact. Namely, we can assume probability of rate return to close Ichimoku cloud border at 1,4180/1,4200 levels where it is recommended to evaluate the development of the activity of both parties in accordance with the charts of shorter time interval. As for buying positions on condition of the formation of topping positions the targets will be 1,4240/60, 1,4300/20 and (or) further break-out variant up to 1,4360/80, 1,4420/40. The alternative variant for sales will below 1,4100  with the targets of 1,4040/60, 1,3980/1,4000.

CHF
The estimated test of key resistance range levels for the implementation of pre-planned short-positions has not been confirmed but low activity of both parties marked during the previous day did not considerably change trading plans made before for today. Namely, we can assume probability of rate return to close 1,0680/1,0700 resistance levels where it is recommended to evaluate the development of the activity of both parties in accordance with the charts of shorter time interval. As for short-term sales on condition of formation of  topping signals the targets will be 1,0620/40, 1,0560/80 and (or) further break-out variant up to 1,0500/20, 1,0420/40, 1,0360/80. The alternative for buyers will be above 1,0800 with the targets of 1,0840/60, 1,0900/20, 1,0960/80.

GBP

The estimated test of key resistance range levels for the implementation of pre-planned short positions has not exactly been confirmed and activity fall of both parties marked by OsMA trend indicator does not clarify the choice of planning priorities for today. Therefore, at the moment, considering suppositions about probable further rate range movement, as well as keeping of several minimal bearish party priority we can assume probability of the achievement of close 1,6380/1,6400 supports where it is recommended to evaluate the development of the activity of both parties in accordance with the charts of shorter time interval. As for short-term sales on condition of the formation of topping signals the targets will be 1,6460/80, 1,6560/80, 1,6660/1,6700 and (or) further break-out variant up to 1,6760/80, 1,6840/60, 1,6960/1,7000. The alternative for sales will be below 1,6260 with the targets of 1,6180/1,6200, 1,6100/20, 1,6000/40.

JPY

The pre-planned break-out variant for sales has not been implemented and at the moment considering current bearish activity cycle with a sign of its relative growth it is recommended to keep sales priorities with the targets of  93,00/20 and (or) further break-out variant up to 92,40/60, 91,80/92,00. The alternative for buyers will be above 95,60 with the targets of  96,00/20, 96,60/80, 97,40/60.

Published on  Fri, Aug 21 2009, 07:07 GMT

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