Instaforex

Thursday, August 14, 2008

Technical analysis for August 14, 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
At 1.0780/1.0800, where it is recommended to evaluate the activity development of both parties according to the charts of shorter time interval. For short-term buyers’ positions on condition of formation of topping signals the targets will be 1.0850/70, 1.0920/40 and/or further breakout variant up to 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 overlap of assumed targets. OsMA trend indicator having marked the considerable rise of bearish activity gives grounds to support bearish planning priorities for today. Hence and because of ascending direction of indicator chart with the features of strengthening of bullish counteraction, we assume a possibility of rate correction to resistance range 1.8750/70, where it is recommended to evaluate the activity development according to the charts of shorter time interval. For sells on condition of formation of topping signals the targets will be 1.8680/1.8700, 1.8600/20 and/or further breakout variant up to 1.8520/40, 1.8440/60, 1.8360/80. An alternative for buyers will be above 1.8860 with the targets 1.8900/20, 1.8960/80.

JPY
The pre-planned short positions from the key resistance range have been realized with attainment of minimal assumed target. Further events with considerably high potential of bullish activity because of chosen strategy give grounds to change planning priorities in favor of bullish party. Hence and because of the rate position inside Ichimoku cloud as a feature of trend uncertainty, we assume a possibility of pair return to Senkou Span support 109.00/20, 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 109.60/80, 110.20/40 and/or further breakout variant up to 110.80/111.00, 111.40/60, 112.00/20. An alternative for sells will be below 108.60 with the targets 108.00/20, 107.40/60.



EUR
At 1.5000/20, where it is recommended to evaluate the activity development of both parties according to the charts of shorter time interval. For short-term sells on condition of formation of topping signals the targets will be 1.4920/40, 1.4860/80, 1.4780/1.4800 and/or further breakout variant up to 1.4720/40, 1.4680/1.4700. An alternative for buyers will be above 1.5100 with the targets 1.5160/80, 1.5200/20.

 
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