Instaforex

Friday, August 22, 2008

Technical analysis for August 22, 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 sells has been realized with attainment of minimal assumed target. OsMA trend indicator having marked the progress of bearish activity as a feature of its incompletion gives grounds to make a choice of planning priorities in favor of sells for today. Hence and because of further bullish counteraction, we assume a possibility of pair return to B line of Ichimoku Sinkou Span at 1.0900/20, 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 1.0840/60, 1.0800/20 and/or further breakout variant up to 1.0740/60, 1.0700/20. An alternative for buyers will be above 1.0980 with the targets 1.1020/40.

GBP
The pre-planned breakout variant for buyers has been realized with attainment of minimal assumed target. OsMA trend indicator having marked the close parity of parties’ activity near rate movement inside Ichimoku cloud gives grounds to presume a possibility of rate delay in sideway range till B line of Sinkou Span is broken. Hence taking into account bearish character of OsMA indicator we assume pair return to supports 1.8700/20, 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 1.8760/80, 1.8800/20 and/or further breakout variant up to 1.8860/80, 1.8920/40, 1.8980/1.9000. An alternative for sells will be below 1.8600 with the targets 1.8520/40, 1.8480/1.8500.
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 and/or further breakout variant up to 108.00/20. An alternative for buyers will be above 110.10 with the targets 110.40/60, 111.00/20.

EUR
At 1.4810/30 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 1.4870/90, 1.4910/30 and/or further breakout variant up to 1.4970/90, 1.5010/30. An alternative for sells will be below 1.4760 with the targets 1.4700/20, 1.4660/80.
 
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