Instaforex

Thursday, August 21, 2008

Technical analysis for August 21, 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
The pre-planned breakout variant for buyers has been realized with attainment of minimal assumed target. OsMA trend indicator having marked the renewal of considerably high level of bullish activity gives grounds to choose buyers’ planning priorities for today. Hence and because of descending direction of indicator chart, we assume a possibility of test of the nearest supports 1.0910/30, 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 1.0970/90, 1.1020/40 and/or further breakout variant up to 1.1080/1.1100, 1.1120/40. An alternative for sells will be below 1.0880 with the targets 1.0820/40, 1.0780/1.0800.

GBP
The pre-planned breakout variant for sells has been realized but with a loss of several points in attainment of minimal assumed target. OsMA trend indicator having marked the approximate parity of parties’ activity gives grounds to presume a possibility of further range movement of the rate without clearness in a choice of planning priorities for today. Hence we have positive features to open short-term short positions with the targets 1.8560/80, 1.8480/1.8500 and/or further breakout variant up to 1.8420/40, 1.8340/60, 1.8300/20. An alternative for buyers will be above 1.8720 with the targets 1.8760/80, 1.8800/20.
JPY
At 109.30/50 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 108.60/80, 108.00/20. An alternative for buyers will be above 110.10 with the targets 110.40/60, 111.00/20.

EUR
At 1.4800/20 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 1.4720/40, 1.4660/80 and/or further breakout variant up to 1.4600/20, 1.4560/80. An alternative for buyers will be above 1.4900 with the targets 1.4940/60, 1.5000/20.
 
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