Bearish Activity in Euro Resumed

Igor Kulaga from Forex Ltd at 02/04/10

EUR

The pre-planned break-out variant for buyers has been implemented, but with loss in attainment of minimal anticipated targets. OsMA trend indicator, having marked priority of bearish party activity as the result of the previous trading day, as earlier, suggests preservation of choosing sales in planning trading operations for today. At this point, considering current ascending direction of indicator chart, we can assume probability of rate return to close border of Ichimoku cloud at 1,3900/20, 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 1,3780/1,3800, 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 preserved buying positions did not have any positive result within the frames of the previous trading day. Nevertheless, relative rise of bullish activity, marked by OsMA trend indicator is not treated as a positive signal for holding long positions and at this point, considering descending direction of indicator chart, there are some risks of rate return to close supports at the border of Ichimoku at 1,0560/80, 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 1,0620/40 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 earlier opened and preserved short positions had a positive result of overlap of minimal anticipated target. OsMA trend indicator, having marked some minor priority of bearish party, favors preference of choosing sales in planning trading operations for today. Hence and considering current ascending direction of indicator chart, we can assume probability of rate return to close border of Ichimoku cloud at 1,5940/60, 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 1,5840/60 and (or) further break-out variant up to 1,5780/1,5800, 1,5720/40. The alternative for buyers will be above 1,06080 with the targets of 1,6120/40, 1,6180/1,6200, 1,6260/80.

JPY

The pre-planned buying positions from key supports have been implemented with attainment of basic anticipated targets. OsMA trend indicator, having marked priority of bullish party development, still favors preference of buying planning for today. Hence and considering current bearish cycle marked by OsMA indicator, we can assume probability of rate return to close borders at 90,60/80, 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 91,20/40, 91,80/92,00 and (or) further break-out variant up to 92,40/60, 93,00/20, 93,60/80. The alternative for sales will be below 90,00 with the targets of 89,40/60, 89,00/20.