Ahead of Bullish Break in Euro
Igor Kulaga from Forex Ltd at 12/02/09
EUR
Open and earlier preserved long positions have had positive result in attainment of basic anticipated targets. OsMA trend indicator, having marked fall in activity of both parties, does not clarify the choice of planning priorities for today. Therefore, considering supposition of probable rate range movement we can assume probability of rate return to close 1,5040/60 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 1,5100/20, 1,5140/60 and (or) further break-out variant up to 1,5200/20, 1,5260/80, 1,5400/40. The alternative for sales will be below 1,4960 with the targets of 1,4900/20, 1,4840/60.
CHF
Open and earlier preserved short positions have had positive result in overlap of minimal anticipated target. OsMA trend indicator, having marked fall in both party activity, does not clarify the choice of planning priorities for today. Therefore, considering a preferable case based on supposition of probable rate range movement, we can assume probability of rate return to close 1,0000/20 resistance 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 0,9940/60, 0,9900/20 and (or) further break-out variant up to 0,9840/60, 0,9720/60. The alternative for buyers will be above 1,0060 with the targets of 1,0100/20, 1,0160/80, 1,0200/20.
GBP
The pre-planned break-out variant for buyers has been implemented with attainment of basic anticipated targets. OsMA trend indicator, having marked preservation of relatively high level of bullish activity, gives grounds favoring buying in planning trading operations for today. Therefore, considering current short-term bearish cycle of indicator, we can assume probability of rate return to 1,6540/60 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 1,6600/20, 1,6660/80, 1,6740/60 and (or) further break-out variant up to 1,6800/20, 1,6860/80. The alternative for sales will be below 1,6500 with the targets of 1,6440/60, 1,6380/1,6400, 1,6300/40.
JPY
The estimated test of key supports for implementation of the pre-planned buying positions has not been confirmed, but the whole technical picture remains practically unchanged favoring preservation of earlier designed trading plans. Therefore, as earlier we can assume probability of rate return to close 86,20/40, 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 buying positions on condition of the formation of topping signals the targets will be 86,80/87,00, 87,40/60 and (or) further break-out variant up to 88,00/20, 88,60/80. The alternative for sales will be below 85,80 with the targets of 5,20/40, 84,60/80.
