Bullish Break in Euro Took Place
Igor Kulaga from Forex Ltd at 11/26/09
EUR
The pre-planned break-out variant for buyers has been implemented with overlap of minimal anticipated target. OsMA trend indicator, having marked formation of reversal bearish signal so far does not clarify the level of bearish opposition. Therefore, considering earlier chosen priority of bullish direction in planning trading operations for today, and taking into account current bearish cycle of indicator chart, we can assume probability of rate return to close 1,5060/80 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 1,5120/40, 1,5180/1,5200 and (or) further break-out variant up to 1,5240/60, 1,5300/20, 1,5380/1,5420. The alternative for sales will be below 1,5000 with the targets of 1,4940/60, 1,4880/1,4900.
CHF
The pre-planned break-out variant for sales has been implemented with overlap of minimal anticipated target. OsMA trend indicator, having marked again sign of rate overbought, does not clarify confirming strengthening of bullish opposition. Therefore, favoring bearish direction in planning trading operations for today, 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, 0,9890/0,9900 and (or) further break-out variant up to 0,9830/50, 0,9720/40. The alternative for buyers will be above 1,0070 with the targets of 1,0120/40, 1,0180/1,0200.
GBP
The pre-planned break-out variant for buyers has been implemented, but with loss in attainment of anticipated targets. OsMA trend indicator, having marked rate overbought at the break of key resistance range levels, nevertheless, does not give grounds suggesting priority of bullish party activity for the choice of planning priorities for today. Therefore, considering current position of indicator chart, we can assume probability of rate return to close 1,6660/80 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 1,6720/40, 1,6780/1,6820 and (or) further break-out variant up to 1,6860/80, 1,6940/60, 1,7020/40. The alternative for sales will be below 1,6520 with the targets of 1,6460/80, 1,6360/1,6400, 1,6300/20.
JPY
The pre-planned break-out variant for sales has been implemented with attainment of anticipated target. OsMA trend indicator, having marked high level of bearish activity at break of key supports, gives grounds favoring preservation of bearish party priority in planning trading operations for today. Therefore, at this point, we can assume probability of rate return to close 87,00/20 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 sales on condition of the formation of topping signals the targets will be 86,40/60, 85,80/86,00 and (or) further break-out variant up to 85,20/40, 84,60/80, 84,00/20. The alternative for buyers will be above 88,00 with the targets of 88,40/60, 89,00/20.
