Completion of Correction in Euro Is Close
Igor Kulaga from Forex Ltd at 01/25/10
EUR
The estimated test of key resistance range levels has been confirmed with conditions for implementation of the pre-planned short positions. OsMA trend indicator, having marked fall in activity of both parties, suggests probable delay of rate decline, but, at this point, there are no grounds to close open short positions. Therefore, as for sales the targets will be 1,4100/20, 1,4040/60, 1,3980/1,4000 and (or) further break-out variant up to 1,3920/40, 1,3860/80. The alternative for buyers will be above 1,4240 with the targets of 1,4280/1,4300, 1,4340/60.
CHF
The pre-planned long positions from key supports have been implemented with attainment of minimal anticipated target. . OsMA trend indicator, having marked fall in activity of both parties, does not clarify the choice of planning priorities for today. Therefore, we can assume probability of another test of 1,0360/80 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 1,0420/40, 1,0480/1,0520 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 short positions from key resistance range levels have been implemented with attainment of basic anticipated targets. OsMA trend indicator, having marked preservation of high level of sales activity, suggests preservation of bearish direction priority in planning trading operations for today. Hence and considering current ascending direction if indicator, we can assume probability of rate return to close 1,6160/80 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 sales, on condition of the formation of topping signals the targets will be 1,6100/20, 1,6040/60 and (or) further break-out variant up to 1,5980/1,6000, 1,5900/20, 1,5840/60. The alternative for buyers will be above 1,6240 with the targets of 1,6280/1,6300, 1,6340/60, 1,6400/20.
JPY
The estimated test of key resistance range levels for implementation of the pre-planned sales has not accurately been confirmed, however, preservation of some short-term bullish party activity priority gives grounds for preservation of earlier designed trading plans for today. Namely, we can assume probability of rate return to close 90,60/80 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 sales, on condition of the formation of topping signals the targets will be 90,00/20, 89,60/80 and (or) further break-out variant up to 89,00/20, 88,40/60, 87,80/88,00. The alternative for buyers will be above 91,20 with the targets of 91,60/80, 92,20/40.
