Rise of Bearish Momentum in Euro

Igor Kulaga from Forex Ltd at 12/14/09

EUR

The pre-planned short positions from key resistance range levels have been implemented with attainment of basic anticipated targets. OsMA trend indicator, having marked relative rise in bullish activity gives grounds for choosing sales in planning trading operations for today. Therefore, considering current bullish direction of indicator chart, we can assume probability of rate return to close border of Ichimoku cloud at 1,4720/40 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 1,4660/80, 1,4580/1,4620 and (or) further break-out variant up to 1,4520/40, 1,4460/50, 1,4400/20. The alternative for buyers will be above 1,4800 with the targets of 1,4840/60, 1,4900/20.

CHF

The pre-planned long positions from key supports have been implemented with overlap of basic anticipated targets. OsMA trend indicator, having marked relative rise of bullish activity as a result of previous trading day, gives grounds for preservation of bullish direction choice in planning trading operations for today. Therefore, considering incompleteness of current sales activity cycle, we can assume probability of reaching close border of Ichimoku cloud at 1,0260/80, 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 1,0320/40, 1,0380/1,0400 and (or) further break-out variant up to 1,0440/60, 1,0500/20. The alternative for sales will be

below 1,0200 with the targets of 1,0140/60, 1,0080/1,0100.

GBP

The pre-planned short positions from key resistance range levels have been implemented with overlap of minimal anticipated target. OsMA trend indicator, having marked preservation of close parity of both party activity, as earlier, does not clarify the choice of planning priorities for today. Therefore, considering supposition of further rate range movement, we can assume probability of another test of channel line 1 at 1,6360/80, 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 sales on condition of the formation of topping signals the targets will be 1,6300/20, 1,6220/40, 1,6160/80 and (or) further break-out variant up to 1,6100/20, 1,6000/40. The alternative for buyers will be above 1,6460 with the targets of 1,6500/20, 1,6560/1,6600.

JPY

The pre-planned short positions from key resistance range levels have been implemented with overlap of minimal anticipated target. OsMA trend indicator, having marked relative rise of bearish activity as a result of previous trading day, considering the chosen strategy, gives grounds for choosing sales in planning trading operations for today. Hence, we can assume probability of rate return to Senkou Span B line in Ichimoku indicator at 89,00/20 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 short-term sales on condition of the formation of topping signals the targets will be 88,40/60, 87,80/88,00 and (or) further break-out variant up to 87,20/40, 86,60/80, 86,00/20. The alternative for buyers will be above 89,40 with the targets of 89,80/90,00, 90,40/60.