Expecting Drop in Euro to Continue
Igor Kulaga from Forex Ltd at 02/03/10
EUR
The earlier opened and held short positions did not have any positive result within the frames of the previous trading day. OsMA trend indicator, having marked formation of bearish reversal signal, still favors holding of open sales with the targets of 1,3900/20, 1,3840/60 and (or) further break-out variant up to 1,3780/1,3800, 1,3720/40, 1,3660/80. The alternative for buyers will be above 1,4020 with the targets of 1,4060/80, 1,4140/60.
CHF
The earlier opened and held long positions within the frames of the previous trading day did not have any positive result. OsMA trend indicator, having marked formation bullish reversal signal, considering the chosen strategy favors holding of earlier opened buying positions with the targets of 1,0620/40 and (or) further break-out variant up to 1,0680/1,0700, 1,0760/80, 1,0840/60. The alternative for sales will be below 1,0490 with the targets of 1,0420/40, 1,0360/80.
GBP
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 formation bearish reversal signal, favors holding of open sales with the targets of 1,5700/20, 1,5640/60. The alternative for buyers will be above 1,6140 with the targets of 1,6180/1,6200, 1,6240/60, 1,6320/40, 1,6400/40.
JPY
The estimated test of key supports has been confirmed, however, relatively high level of bearish activity, marked by OsMA trend indicator, did not favor immediate implementation of the pre-planned buying positions. Nevertheless, at this point, considering close parity of both party activity as well as sign of bearish development incompleteness, we can assume probability of rate return to close 90,00/20 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 90,60/80, 91,00/20 and (or) further break-out variant up to 91,60/80, 92,20/40. The alternative for sales will be below 89,80 with the targets of 89,20/40. 
