Correction of Bearish Trend in Euro
Igor Kulaga from Forex Ltd at 02/02/10
EUR
The estimated test of key resistance range levels has been confirmed with condition for implementation of the pre-planned short positions. OsMA trend indicator, having marked close parity of both party activity combined with descending direction of indicator chart in the bigger picture, favors holding of open sales with the targets of 1,3840/60 and (or) further break-out variant up to 1,3780/1,3800, 1,3720/40, 1,3660/80. The alternative for buyers will be above 1,4010 with the targets of 1,4060/80, 1,4140/60.
CHF
The estimated test of key supports has been confirmed with condition for implementation of the pre-planned buying positions. OsMA trend indicator, having marked preservation of bullish party priority, favors reservation of open long positions with the targets of 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 1,0520 with the targets of 1,0460/80, 1,0400/20, 1,0340/60.
GBP
The pre-planned break-out variant for sales has been implemented with attainment of minimal anticipated target. OsMA trend indicator, having marked sign of bullish activity incompleteness with preservation of bearish party priority, suggests preservation of earlier designed trading plans for today. Namely, we can assume probability of reaching close 1,0600/40 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 sales, on condition of the formation of topping signals the targets will be 1,5900/40, 1,5840/60, 1,5780/1,5800 and (or) further break-out variant up to 1,5700/20, 1,5640/60. The alternative for buyers will be above 1,6140 with the targets of 1,6180/1,6200, 1,6240/60, 1,6320/40, 1,6400/40.
JPY
The estimated test of key supports for implementation of the pre-planned buying positions has not been confirmed, however, signs of both party activity slump, marked by OsMA trend indicator, suggest preservation of earlier designed trading plans practically unchanged. Namely, we can assume probability of rate return to close border of Ichimoku cloud at 90,20/40, 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 90,80/91,00 and (or) further break-out variant up to 91,40/60, 92,00/20. The alternative for sales will be below 89,80 with the targets of 89,20/40.
