Bearish Trend in Euro Resumes
Igor Kulaga from Forex Ltd at 01/26/10
EUR
The opened and held short positions have had a positive result in overlap of minimal anticipated target and, at this point, considering current sales activity, the targets remain at 1,3980/1,4000 levels, and (or) further break-out variant up to 1,3920/40, 1,3860/80. The alternative for buyers will be above 1,4140 with the targets of 1,4180/1,4200, 1,4240/60.
CHF
The pre-planned long positions from key supports have been implemented with overlap of minimal anticipated target. OsMA trend indicator, having marked strengthening of buying activity after formation of bullish reversal signals, gives grounds for supposition of further rate rise with priority of bullish direction in planning trading operations for today. Therefore, at this point, we can assume probability of mere rate correction to close 1,0410/20 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 1,0460/80, 1,0500/20 and (or) further break-out variant up to 1,0560/80, 1,0620/40, 1,680/1,0700. The alternative for sales will be below 1,0340 with the targets of 1,0280/1,0300, 1,0220/40.
GBP
The pre-planned break-out variant for buyers has been implemented, but with loss in attainment of the anticipated targets. OsMA trend indicator, having marked parity of both party activity in the bigger picture, does not clarify the choice of planning priorities for today. Therefore, considering supposition of probable rate range movement and sign of bullish development incompleteness, we can assume probability of rate return to Senkou Span B line in Ichimoku indicator at 1,6260/80 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 1,6200/20, 1,6140/60, 1,6080/1,6100 and (or) further break-out variant up to 1,6020/40, 1,5920/40, 1,5840/60. The alternative for buyers will be above 1,6320 with the targets of 1,6360/80, 1,6440/60.
JPY
The pre-planned break-out variant for sales has been implemented, attainment of the anticipated targets is supported by formation of bearish reversal sign with further strengthening of sales activity, as marked by OsMA trend indicator. At this point, considering current bearish activity, we can assume a mere rate correction to close 89,80/90,00 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 89,20/40 and (or) further break-out variant up to 88,60/80, 88,00/20. The alternative for buyers will be above 90,40 with the targets of 90,80/91,00, 91,40/60.
