Instaforex

Monday, August 18, 2008

Technical analysis for August 18, 2008

Indicators: Moving Average 34, Simple, Median Price HL/2
Moving Average of Oscillator 12,26,9 Close
Ichimoku Kinko Hyo 24,60,120
Time: 1 Hour

CHF
At 1.0860/80 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 1.0920/40, 1.0980/1.1000 and/or further breakout variant above 1.1020 with the targets 1.1060/80, 1.1100/20. An alternative for sells will be below 1.0840 with the targets 1.0780/1.0800, 1.0710/30.

GBP
At 1.8760/80 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 1.8700/20, 1.8620/40, 1.8580/1.8600 and/or further breakout variant up to 1.8520/40, 1.8440/60, 1.8380/1.8400. An alternative for buyers will be above 1.8920 with the targets 1.8960/80, 1.9020/40.
JPY
The presumed test of the key supports for realization of the pre-planned buyers’ positions has not been confirmed and the expected rate rise with a break of key resistance range had the negative overbought factor that does not give grounds to open long positions because of low perspective. At present taking into account the relative rise of bearish activity with a preservation of buyers’ planning priorities we assume a possibility of attainment of 109.60/80, where it is recommended to evaluate the activity development of both parties according to the charts of shorter time interval. For buyers’ positions on condition of formation of topping signals the targets will be 110.20/40 and/or further breakout variant above 110.60 with the targets 111.00/20, 111.60/80, 112.40/60, 112.80/113.00. An alternative for sells will be below 109.00 with the targets 108.40/60, 108.00/20.

EUR
Earlier opened short positions have the positive result at minimal calculated targets and further events with realization of breakout variant did not have any positive result in attainment of assumed targets with oversold factor revealed by OsMA indicator at the break of key supports. At present taking into account the features of relative rise of buyers’ activity, we assume a possibility of attainment of 1.4800/20, 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 1.4740/60, 1.4660/80 and/or further breakout variant below 1.4640 with the targets 1.4580/1.4600, 1.4520/40, 1.4460/80. An alternative for buyers will be above 1.4840 with the targets 1.4880, 1.4900.
 
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