Instaforex

Tuesday, August 12, 2008

Technical analysis for August 12, 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
The assumed test of the key supports has been confirmed but the features of relatively high level of bearish development according to chosen strategy did not dispose to realization of the pre-planned long positions. At present taking into account the logical incompletion of bearish counteraction, we assume a possibility of further period of rate correction to the nearest supports 1.0810/30, where it is recommended to evaluate the activity development according to the charts of shorter time interval. For short-term buys on condition of formation of topping signals the targets will be 1.0870/90, 1.0910/30 and/or further breakout variant up to 1.0970/90, 1.1010/30. An alternative for sells will be below 1.0760 with the targets 1.0700/20, 1.0660/80.

GBP
The assumed test of the key resistance range has been confirmed with conditions for realization of short-term positions with overlap of main assumed targets. OsMA trend indicator having marked the activity parity of both parties with consequent uncertain development of bearish activity gives grounds to presume a possibility of further rate correction period for which the key resistance range will be 1.9120/40, where it is recommended to evaluate the activity development according to the charts of shorter time interval. For short-term sells on condition of formation of topping signals the targets will be 1.9060/80, 1.9000/20 and/or further breakout variant up to 1.8940/60, 1.8860/80, 1.9900/20. An alternative for buyers will be above 1.9240 with the targets 1.9280/1.9300, 1.9320/40.


JPY
The pre-planned buyers’ positions from the key supports have been realized with attainment of main assumed targets. OsMA trend indicator having generally marked the activity fall of both parties gives grounds to presume a period of range movement of the rate with a preservation of buyers’ planning priorities for today. Hence and because of descending direction of indicator chart, we assume pair return to supports 109.90/110.00, where it is recommended to evaluate the activity development according to the charts of shorter time interval. For short-term buyers’ positions on condition of formation of topping signals the targets will be 110.30/40 and/or further breakout variant above 110.60 with the targets 111.00/20, 111.60/80, 112.20/40. An alternative for sells will be below 109.40 with the targets 108.80/109.00.

EUR
The assumed range of resistance range has been confirmed but relatively high level of bullish activity revealed by OsMA indicator according to chosen strategy did not dispose to certain realization of the pre-planned profitable short positions. At present taking into account the existence advantage of buyers’ activity, we assume a possibility of further period of rate correction for which the key resistance range will be 1.5020/40, where it is recommended to evaluate the activity development according to the charts of shorter time interval. For short-term sells on condition of formation of topping signals the targets will be 1.4960/80, 1.4900/20, 1.4860/80 and/or further breakout variant with the targets 1.4800/20, 1.4760/80. An alternative for buyers will be above 1.5120 with the targets 1.5160/80, 1.5200/20.
 
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