High Level of Bullish Potential in Euro
Igor Kulaga from Forex Ltd at 12/01/09
EUR
The pre-planned long positions from key supports have been implemented, and attainment of anticipated targets is favored by preservation of bullish activity priority, marked by OsMA trend indicator as a result of previous trading day. At this point, considering some short-term priority of bearish activity, we can assume probability of retest of Senkou Span B line in Ichimoku indicator at 1,4960/80 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 1,5020/40, 1,5080/1,5100 and (or) further break-out variant up to 1,5140/60, 1,5200/20. The alternative for sales will be below 1,4900 with the targets of 1,4840/60, 1,4780/1,4800.
CHF
The estimated test of key resistance range levels has been confirmed with conditions for implementation of pre-planned short positions. OsMA trend indicator, having marked preservation of fall in bullish party activity favors preservation of open sales. Therefore, as for short positions the targets will be 0,9980/1,0000, 0,9900/20 and (or) further break-out variant up to 0,9840/60, 0,9720/60. The alternative for buyers will be above 1,0100 with the targets of 1,0140/60, 1,0200/20, 1,0260/80.
GBP
The pre-planned break-out variant for sales has been implemented, and attainment of minimal anticipated target is favored by relative rise in sales activity, marked by OsMA trend indicator at break of key supports. Nevertheless, considering preservation of bullish party priority in the bigger picture, we can assume probability of another test of channel line 1 at 1,6320/40, 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 1,6380/1,6400, 1,6440/60, 1,6500/20 and (or) further break-out variant up to 1,6560/80, 1,6620/40, 1,6700/20. The alternative for sales will be below 1,6260 with the targets of 1,6200/20, 1,6140/60.
JPY
The pre-planned buying positions from key supports have been implemented with attainment of basic anticipated targets. OsMA trend indicator, having marked progress of bullish activity, gives grounds for preservation this direction in planning trading operations for today. Therefore, at this point we can assume probability of rate return to close 86,20/40 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 86,80/87,00, 87,40/60 and (or) further break-out variant up to 88,00/20, 88,60/80. The alternative for sales will be below 85,80 with the targets of 85,20/40, 84,60/80.
