Instaforex

Thursday, August 7, 2008

Technical analysis for August 07, 2008

Indicators: Moving Average 34, Simple, Median Price HL/2
Moving Average of Oscillator 12,26,9 Close
Ichimoku Kinko Hyo 24,60,120

CHF - Screenshot
The variants for buyers have been realized with attainment of maximal targets. OsMA trend indicator marks the rising strength of bears but on the charts with shorter time intervals the maximal level of bearish strength has already been achieved. Hence we assume pair return to upper channel boundary with its further break. The targets for long positions will be 1.0600 with further breakout variant at 1.0770/90. An alternative for sells will be 1.0510, 1.0480.


GBP - Screenshot
The pre-planned short positions have been realized with attainment of maximal targets. OsMA trend indicator marked rising activity of bullish party. Hence we assume a test of resistance level which is a bottom boundary of the channel, where it is necessary to evaluate further development according to the charts of shorter time intervals. For short positions the targets will be 1.9430/50, 1.9330/50. For buyers the targets will be 1.9560, 1.9630/50.



JPY - Screenshot
Alternative variants for buyers have been realized with overlap of maximal targets because of a break of upper channel boundary with further sideway trading. OsMA trend indicator having marked the maximum of bearish activity is not going to zero level so we presume pair return to upper channel boundary that is also a support level with its further test. The targets for sells will be 109.10 with further breakout variant at 108.40/60. An alternative for buyers will be 110.00, 110.70.


EUR - Screenshot
The pre-planned short positions have been realized with attainment of maximal targets. At this moment OsMA trend indicator having marked rising bullish strength with the chart direction gives grounds to presume the test of upper boundary of descending channel where it is recommended to evaluate further development according to the charts of shorter time intervals. In case of rebound the targets for sells will be 1.5410/30, 1.5330/50. If the upper boundary is broken the targets for buyers will be 1.5580/1.5600, 1.5720/40.
 
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