Bearish Trend in Euro Must Go on

Igor Kulaga from Forex Ltd at 02/12/10

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 high degree of bearish activity, suggests preference of choosing sales in planning trading operations for today. Hence and considering ascending direction of indicator chart, we can assume probability of reaching borders of Ichimoku at 1,3720/40 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 sales, on condition of the formation of topping signals the targets will be 1,3660/80, 1,3560/80 and (or) further break-out variant up to 1,3500/20, 1,3440/60, 1,3380/1,3400. The alternative for buyers will be above 1,3820 with the targets of 1,3860/80, 1,3920/40, 1,3980/1,4000.

CHF
The pre-planned long positions from key resistance supports have been implemented with attainment of basic anticipated targets. OsMA trend indicator, having marked essential rise of bullish activity, suggests preference of buying direction in planning trading operations for today. Hence and considering descending direction of indicator chart, we can assume probability of rate return to close 1,0680/1,0700 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 buying positions, on condition of the formation of topping signals the targets will be 1,0740/60, 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 1,0600 with the targets of 1,0540/60, 1,0480/1,0500.

GBP
The estimated test of key resistance range levels has not been confirmed, however, relative rise of bullish activity within the frames of both party activity, marked by OsMA trend indicator, 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 pre-planned short positions from key resistance range levels have been implemented with attainment of minimal anticipated target. OsMA trend indicator, having marked preserved low activity of both parties, suggests preservation of earlier designed trading plans practically unchanged. Namely, we can assume probability of another test of 90,00/10 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 89,40/60, 88,80/89,00 and (or) further break-out variant up to 88,40 with the targets of 87,80/88,00, 87,20/40. The alternative for buyers will be above 90,60 with the targets of 91,00/20 91,60/80.