Technical analysis for February 8, 2010
07 Feb, 2010 @ 07:00 pm BST | written by Forex Ltd
CHF
The pre-planned long positions from key supports have been implemented with overlap of minimal anticipated target. OsMA trend indicator, having marked preservation of bullish party activity, suggests holding of bullish priorities in planning trading operations for today. Hence, we can assume probability of rate return to close 1,0710/30 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 1,0770/90, 1,0810/20 and (or) further break-out variant up to 1,0860/80, 1,0940/60, 1,1000/20. The alternative for sales will be below 1,0660 with the target of 1,0600/20, 1,0520/40.
GBP
The pre-planned break-out variant for sales has been implemented with attainment of basic anticipates targets. OsMA trend indicator, having marked preserved minimal priority of bearish party, suggests preservation of bearish trend with sales preference in planning trading operations for today. Hence, we can assume probability of rate return to close 1,5620/40 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 short-term sales on condition of the formation of topping signals the targets will be 1,5560/50, 1,5500/20 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 1,5760 with the target of 1,5800/20, 1,5860/80.
JPY
The pre-planned short positions from key resistance range levels have been implemented with attainment of basic anticipated targets. OsMA trend indicator, having marked priority of bearish party in the bigger picture, suggests preference of sales priority in planning trading operations for today. Hence and considering ascending direction of indicator chart, we can assume probability of rate return to channel line 1 at 89,60/80, 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 sales, on condition of the formation of topping signals the targets will be 89,00/20, 88,40/60 and (or) further break-out variant up to 87,80/88,00, 87,20/40.
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 close parity of both party activity, suggests probable period of rate range movement, but favoring sales in planning trading operations for today. Hence, we can assume probability of rate return to channel line 1 at 1,3660/80, 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 sales on condition of the formation of topping signals the targets will be 1,3600/20, 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 1,3760 with the target of 1,3800/20, 1,3860/80.
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