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Forex Analysis on Majors

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Euro Range Trading

Thu, Nov 5 2009, 08:53 GMT
by Igor Kulaga

Forex Ltd

EUR

The pre-planned break-out variant for buyers was implemented and the achievement of estimated target is supported by bullish activity progress marked by OsMA trend indicator ay the break of key resistance range levels. At the moment, considering descending direction of indicator chart we can assume probability of rate return to close Ichimoku cloud border at 1,4800/20 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 buying positions on condition of the formation of topping signals the targets will be 1,4860/80, 1,4920/40 and (or) further break-out variant up to 1,4980/1,5000, 1,5040/60. The alternative for sales will be above 1,4750 with the targets of 1,4690/1,4710, 1,4620/40.

CHF

The pre-planned break-out variant for sales was implemented with loss of several points in the achievement of minimal estimated target. OsMA trend indicator, having marked the break of key supports by bearish activity progress gives grounds to suppose rate fall period incompleteness as the ground for preservation of short positions opened before. At the moment, considering in short-term outlook the current cycle of bullish activity we can assume probability of rate return to channel line «3» at 1,0200/20 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 positions on condition of the formation of topping signals the targets will be 1,0140/60, 1,0100/20  and (or) further break-out variant up to 1,0040/60, 0,9980/1,0000. The alternative for buyers will be above 1,0250 with the targets of 1,0290/1,0310, 1,0350/70, 1,0420/40.

GBP

The pre-planned break-out variant for buyers was implemented with the achievement of minimal estimated targets. OsMA trend indicator, having marked close parity of both parties and gives grounds to suppose probability of rate range movement. Therefore, considering in short-term outlook, some preservation of minimal bearish party priority we can assume probability of rate return to close 1,6440/60 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 buying positions on condition of formation of topping signals the targets will be 1,6500/20, 1,6580/16620  and (or) further break-out variant up to 1,6660/80, 1,6720/40, 1,6780/1,6800. The alternative for sales will be below 1,6380 with the targets of 1,6320/40, 1,6240/60, 1,6180/1,6200.

JPY

The pre-planned break-out variant for buyers was implemented but with loss in the achievement of minimal estimated targets. OsMA trend indicator, having marked relative activity rise of both parties as the result of previous trading day and does not clarify the choice of planning priorities for today. Therefore, considering the chosen strategy, based on supposition concerning probability of further rate range movement we can assume rate return to Senkou Span B line of Ichimoku indicator at 90,60/80 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 the formation of topping signals the targets will be 90,00/20 and (or) further break-out variant up to 89,40/60, 88,80/89,00, 88,20/40. The alternative for buyers will be above 91,40 with the targets of 91,80/92,00, 92,40/60.

Published on  Thu, Nov 5 2009, 09:00 GMT