Bearish Break in Euro

Igor Kulaga from Forex Ltd at 02/05/10

EUR
The pre-planned break-out variant for sales has been implemented with attainment of the anticipated targets. OsMA trend indicator, having marked preservation of sales activity priority, regardless of rate oversold sign, suggests further 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 close resistance levels at 1,3740/60, 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 1,3680/1,3700, 1,3600/40 and (or) further break-out variant up to 1,3540/60, 1,3460/80, 1,3380/1,3400. The alternative for buyers will be above 1,3860 with the targets of 1,3900/20, 1,3980/1,4020.

CHF
The pre-planned break-out variant for buyers has been implemented with attainment of basic anticipated targets. OsMA trend indicator, having marked preservation of bullish activity priority, suggests preference of buying for today. Hence, we can assume probability of rate return to close 1,0690/1,0710 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 1,0760/80, 1,0800/20 and (or) further break-out variant up to 1,0860/80, 1,0940/60, 1,1000/20. The alternative for sales will be below 1,0640 with the targets of 1,0580/1,0600, 1,0520/40.

GBP
The pre-planned break-out variant for sales has been implemented with overlap of the anticipated targets. OsMA trend indicator, having marked fall in activity of both parties, nevertheless, considering signs of bearish party priority, gives grounds for preservation of sales preference for today. Hence and considering rate oversold, we can assume probability of rate return to close 1,5760/80 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 1,5700/20 and (or) further break-out variant up to 1,5640/60, 1,5580/1,5600, 1,5400/20. The alternative for buyers will be above 1,5910 with the targets of 1,5960/80, 1,6040/60.

JPY
The pre-planned break-out variant for sales has been implemented with overlap of the anticipated targets. OsMA trend indicator, having marked essential rise of sales activity, strongly suggests preference of bearish direction in planning trading operations for today. Hence and considering ascending direction of indicator chart, we can assume probability of reaching Senkou Span B line in Ichimoku indicator at 89,80/90,00, 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 89,20/40, 88,60/80 and (or) further break-out variant up to 88,00/20, 87,40/60. The alternative for buyers will be above 90,60 with the targets of 91,00/20, 91,60/80.