Flat in Euro. Which Side Is Bound to Win?
Igor Kulaga from Forex Ltd at 11/19/09
EUR
The pre-planned break-out variant for buyers has been implemented, but with loss in several points in attainment of minimal anticipated target. OsMA trend indicator, having marked preservation of parity of both party activity in the bigger picture, does not clarify the choice of planning priorities for today. Therefore, considering supposition of further rate range movement and taking into account bearish sign of indicator chart, we can assume probability of test of close supports 1,4860/80, 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 1,4920/40, 1,4980/1,5000 and (or) further break-out variant up to 1,5040/60, 1,5100/20. The alternative for sales will be below 1,4800 with the targets of 1,4740/60, 1,4680/1,4700, 1,4620/40.
CHF
The pre-planned break-out variant for sales has been implemented but with loss in attainment of anticipated target. OsMA trend indicator, having marked parity of both party activity in the bigger picture, does not clarify the choice of planning priorities for today. Therefore, considering supposition of rate range movement and taking into account current bullish cycle of indicator chart, we can assume probability of further test of close 1,0160/80 support 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 1,0100/20, 1,0040/60, 0,9980/1,0000 and (or) further break-out variant up to 0,9920/40, 0,9860/80, 0,9800/20. The alternative for buyers will be above 1,0220 with the targets of 1,0260/80, 1,0320/40.
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 priority of bearish party activity with no clear bullish opposition, gives grounds for supposition of further rate decline with preservation of priorities favoring sales for today. Hence, we can assume probability of test of close1,6750/70 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 1,6680/1,6700 and (or) further break-out variant up to 1,6620/40, 1,6540/60, 1,6480/1,6500. The alternative for buyers wil be above 1,6820 with the targets of 1,6860/80, 1,6940/60, 1,7000/20.
JPY
The pre-planned long positions from key resistance range levels have been implemented with attainment of minimal anticipated target. OsMA trend indicator, having marked tendency of strengthening of bearish activity combined with opposite tendency from buyers, gives grounds for choosing priorities favoring sales for today. Hence, we can assume probability of rate return to close borders of Ichimoku cloud at 89,40/60 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 88,80/89,00, 88,00/40 and (or) further break-out variant up to 87,40/60, 86,80/87,00. The alternative for buyers will be above 89,80 with the targets of 90,20/40, 90,80/91,00.
