Bullish Momentum in Euro Resumes
Igor Kulaga from Forex Ltd at 12/24/09
EUR
The assumed rate return to the key resistance range levels has been confirmed, however, essential rise in bullish activity, marked by OsMA trend indicator, has been a negative moment for implementation of the pre-planned short positions. Furthermore, at this point, considering supposition for choosing bullish planning priorities, we can assume probability of rate return to close 1,4300/20 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 buying positions on condition of the formation of topping signals the targets will be 1,4360/80, 1,4420/40 and (or) further break-out variant up to 1,4460 with the targets of 1,4500/20, 1,4560/80, 1,4640/60. The alternative for sales will be below 1,4260 with the targets of 1,4200/20, 1,4100/40.
CHF
The pre-planned break-out variant for sales has been implemented, and attainment of the anticipated targets is supported by essential rise in bearish activity, marked by OsMA trend indicator at the break of key supports. At this point, considering current ascending direction of indicator chart, we can assume probability of rate return to close border of Ichimoku cloud at 1,0400/20 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 1,0340/60 and (or) further break-out variant up to 1,0280/1,0300, 1,0200/40. The alternative for buyers will be above 1,0460 with the targets of 1,0500/20, 1,0560/80.
GBP
The pre-planned short positions from key resistance range levels have been implemented with attainment of minimal anticipated target. OsMA trend indicator, having marked preservation of low activity of both parties, as earlier does not clarify the choice of planning priorities for today. Therefore, considering bullish sign of indicator chart, we can assume probability of rate return to close 1,6020/40 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 buying positions on condition of the formation of topping signals the targets will be 1,5960/80, 1,5900/20 and (or) further break-out variant up to 1,5820/40, 1,5700/40. The alternative for buyers will be above 1,6100 with the targets of 1,6140/60, 1,6200/20.
JPY
The estimated test of key supports has been confirmed, but relative rise of bearish activity, marked by OsMA, did not favor implementation of the pre-planned buying positions. At this point, considering sign of rate correction incompleteness, we can assume probability of reaching 91,00/20 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 91,60/80, 92,20/40 and (or) further break-out variant up to 92,80/93,00, 93,40/60. The alternative for sales will be below 90,40 with the targets of 89,80/90,00, 89,20/40.
