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Correction in Euro Is Resumed

Igor Kulaga from Forex Ltd at 02/16/10

 


EUR
The estimated test of key resistance range levels has been confirmed with condition for implementation of the pre-planned short positions. OsMA trend indicator, having marked sign of bearish reversal signal formation, favors holding of open sales with the targets of 1,3420/40, 1,3360/80, 1,3300/40. The alternative for buyers will be above 1,3800 with the targets of 1,3840/60, 1,3900/20, 1,3960/80.

CHF
The estimated test of key supports has been confirmed with conditions for implementation of the pre-planned buying positions. OsMA trend indicator, having marked signs of bullish reversal signal formation, favors holding of open long positions with the targets of 1,0800/20 and (or) further break-out variant up to 1,0860/80, 1,0920/40, 1,0980/1,1000. The alternative for sales will be below 1,0680 with the targets of 1,0620/40, 1,0540/60, 1,0480/1,0500.

GBP
The estimated test of key resistance range levels has not been confirmed, however, low activity of both parties, marked by OsMA trend indicator as the result of the previous trading day, suggests preservation of earlier designed trading plans practically unchanged. Namely, we can assume probability of another test of 1,5740/60 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 1,5680/1,5700, 1,5620/40, 1,5520/60 and (or) further break-out variant up to 1,5440/60, 1,5360/80, 1,5260/1,5300. The alternative for buyers will be above 1,5820 with the targets of 1,5860/80, 1,5960/1,6000.

JPY
The estimated test of key supports has been confirmed with conditions for implementation of the pre-planned buying positions. OsMA trend indicator, having marked preserved low activity of both parties, favors the case of further rate range movement accompanied by holding of open long positions with the targets of 90,20/40 and (or) further break-out variant up to 90,80/91,00, 91,40/60. The alternative for sales will be below 89,20 with the targets of 88,40/60, 87,80/88,00.


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