Instaforex

Wednesday, August 13, 2008

Technical analysis for August 13, 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 pre-planned buyers’ positions from the key supports have been realized with attainment of minimal assumed target. OsMA trend indicator having marked the activity fall of bearish party has not revealed the features of further immediate rate rise. Hence because of chosen strategy we assume a possibility of rate correction for which the key supports will be 1.0780/1.0800, 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 1.0840/60, 1.0900/20 and/or further breakout variant above 1.0940 with the targets 1.0980/1.1000, 1.1040/60. An alternative for sells will be below 1.0700 with the targets 1.0620/40.

GBP
The pre-planned breakout variant for sells has been realized with attainment of minimal presumed target. OsMA trend indicator having marked the activity fall of both parties according to chosen strategy gives grounds to assume a possibility of range movement of the rate but with a preservation of bearish planning priorities for today. Hence and taking into account the activity of bullish position on indicator chart, we assume a possibility of pair return to resistance range 1.9040/60, 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 1.8980/1.9000, 1.8900/20 and/or further breakout variant up to 1.8840/60, 1.8760/80, 1.8700/20. An alternative for buyers will be above 1.9120 with the targets 1.9160/80, 1.9220/40.

JPY
The pre-planned breakout variant for sells has been realized with overlap of assumed target. OsMA trend indicator having marked the high level of bearish development is a sufficient ground to choose corresponding planning priorities for today. Hence taking into account the observed ascending direction of indicator chart, we assume a possibility of pair return to 109.00/20, where it is recommended to evaluate the activity development of both parties according to the charts of shorter time interval. For sells on condition of formation of topping signals the targets will be 108.40/60, 108.00/20 and/or further breakout variant up to 107.40/60. An alternative for buyers will be above 109.80 with the targets 110.20/40.

EUR
The assumed test of the key resistance range has not been confirmed and the activity fall of both parties according to OsMA version does not bring in clearness to a choice of planning priorities for today. At 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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