Bearish Break in Euro Took Place

Igor Kulaga from Forex Ltd at 02/19/10

EUR
The pre-planned sales from key resistance range levels have been implemented with attainment of basic anticipated targets. OsMA trend indicator, having marked sign of rate overbought considering firm bullish counteraction, suggests preference of sales in planning trading operations for today. Hence and considering ascending direction of indicator chart, we can assume probability of rate return to channel line 1 at 1,3520/40, 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 sales, on condition of the formation of topping signals the targets will be ,3460/80, 1,3380/1,3400 and (or) further break-out variant up to 1,3320/40, 1,3260/80. The alternative for buyers will be above 1,3620 with the targets of 1,3660/80, 1,3720/40, 1,3780/1,3800.

CHF
The pre-planned buying positions from key supports have been implemented with attainment of basic anticipated targets. OsMA trend indicator, having marked formation of bearish reversal sign, nevertheless, gives grounds to preserve preference of bullish direction in planning trading operations for today. Hence and considering descending direction of indicator chart, we can assume probability of rate return to close 1,0820/40 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 1,0880/1,0900, 1,0940/60 and (or) further break-out variant up to 1,1000/20, 1,1060/80. The alternative for sales will be below 1,0760 with the targets of 1,0700/20, 1,0640/60, 1,0580/1,0600.

GBP
The pre-planned break-out variant for sales has been implemented with overlap of anticipated targets. OsMA trend indicator, having marked bearish activity rise at break of key supports, suggests preference of bearish direction in planning trading operations for today. Hence and considering ascending direction of indicator chart, we can assume probability of rate return to 1,5420/40 resistance 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 sales, on condition of the formation of topping signals the targets will be 1,5360/80 and (or) further break-out variant up to 1,5300/20, 1,5240/60, 1,5100/40. The alternative for buyers will be above 1,5560 with the targets of 1,5600/20, 1,5660/80, 1,5720/40.

JPY
The pre-planned buying positions from key supports have been implemented with attainment of basic anticipated targets. OsMA trend indicator, having marked rise in bullish activity, suggests preference of this direction in planning trading operations for today. Hence and considering descending direction of indicator chart, we can assume probability of rate return to close 91,40/60 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 buying positions, on condition of the formation of topping signals the targets will be 92,00/20 and (or) further break-out variant up to 92,60/80, 93,20/40. The alternative for sales will be below 91,00 with the targets of 90,40/60, 89,80/90,00.