Bullish Potential in Euro Is Lost
Igor Kulaga from Forex Ltd at 11/13/09
EUR
The pre-planned break-out variant for sales has been implemented with achievement of minimal anticipated target. OsMA trend indicator, having marked break of key supports by expanding tendency of sales activity strengthening gives grounds to choose bearish side for planning priorities for today. Hence and considering current bullish direction of indicator chart we can assume probability of rate return to 1,4920/40 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 1,4860/80, 1,4800/20 and (or) further break-out variant up to 1,4740/601,4680/1,4700, 1,4620/40. The alternative for buyers will be above 1,5050 with the targets of 1,5090/1,5110, 1,5160/1,5200.
CHF
The estimated test of key resistance range levels has been confirmed, but relative rise in bullish activity marked by OsMA trend indicator was not in favor of immediate implementation of the preplanned short positions. At this point, considering the current situation favoring buyers but with uncertainty in further trend direction we can assume probability of rate return to close 1,0120/40 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 buying positions on condition of the formation of topping signals the targets will be 1,0180/1,0200 and (or) further break-out variant up to 1,0240/60, 1,0300/40. The alternative for sales will be below 1,0100 with the targets of 1,0040/60, 0,9980/1,0000.
GBP
The estimated test of key resistance range levels has not been confirmed but preserved minimal potential in bullish activity gives grounds for preservation of earlier designed trading plans practically unchanged. Namely, we can assume reaching of close 1,6620/40 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 1,6560/80, 1,6500/20 (or) further break-out variant up to 1,6440/60, 1,6360/80, 1,6300/20. The alternative for buyers will be above 1,6720 with the targets of 1,6760/80, 1,6820/40.
JPY
The pre-planned break-out variant for buyers has been implemented and achievement of anticipated targets is supported by high level of bullish activity marked by OsMA trend indicator at break of key resistance range. At this point, considering current short-term bearish activity cycle we can assume probability of rate return to close 90,00/10 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 90,30/40, 90,80/90, 91,20/30 and (or) further break-out variant up to 91,60/70, 92,10/30. The alternative for sales will be below 89,80 with the targets of 89,20/40, 88,60/80, 88,00/20.
