Instaforex

Tuesday, August 26, 2008

Technical analysis for August 26, 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 assumed pair return to earlier revealed key supports has been confirmed but relatively high level of bearish activity revealed by OsMA indicator did not dispose to realization of the pre-planned buyers’ positions. At present taking into account general technical situation of activity parity of both parties, we assume a possibility of range movement of the rate without clearness in a choice of planning priorities for today. Hence and taking into note the bullish character of indicator chart, we assume a possibility of another top test inside the range of 1.0010/30, 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 1.0970/80, 1.0930/40 and/or further breakout variant below 1.0900 with the targets 1.0840/60, 1.0800/20. An alternative for buyers will be above 1.1060 with the targets 1.1100/20, 1.1160/80.
GBP
The pre-planned short positions from the key resistance range have been realized with overlap of minimal assumed target. OsMA trend indicator having marked the relative rise of bullish activity close to activity parity of both parties does not give grounds to choose planning priorities for today. Hence because of chosen strategy we assume a possibility of test of the nearest supports at 1.8400/20, 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 1.8480/1.8500, 1.8560/80, 1.8620/40 and/or further breakout variant up to 1.8780/1.8800, 1.8820/40. An alternative for sells will be below 1.8360 with the targets 1.8300/20, 1.8220/40, 1.8160/80.
JPY
The pre-planned short positions have been realized but with a loss of several points in attainment of assumed targets within previous trading day. OsMA trend indicator having marked the preservation of considerably high level of bearish activity also revealed the features of activity parity of both parties as a ground to presume a possibility of range movement of the rate without clearness in a choice of planning priorities for today. Hence taking into account the period of bullish activity, we assume a possibility of attainment of resistance range 110.10/30, 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 109.60/70, 109.20/30 and/or further breakout variant below 109.00 with the targets 108.40/60, 108.00/20. An alternative for buyers will be above 110.80 with the targets 111.20/40, 111.80/112.00, 112.60/80.
EUR
The presumed test of the key supports for realization of the pre-planned buyers’ positions has not been confirmed but the relative strengthening of buyers’ activity on expected rate rise revealed by OsMA indicator gives grounds to preserve earlier composed trading plans almost without changes. As before we assume a possibility of attainment of supports 1.4640/60, 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 1.4700/20, 1.4760/80, 1.4820/40 and/or further breakout variant up to 1.4880/1.4900, 1.4920/40. An alternative for sells will be below 1.4600 with the targets 1.4540/60, 1.4460/80, 1.4400/20.
 
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