Instaforex

Wednesday, August 27, 2008

Technical analysis for August 27, 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 but with a loss of several points in attainment of minimal assumed target. OsMA trend indicator having marked the high level of parties’ activity does not give grounds for a firm choice of planning priorities for today. But taking into account the stage of current bearish development as well as presuming a possibility of range movement of the rate, we assume a possibility of further rate fall but after a period of its correction to the nearest resistance range 1.0960/70, 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 1.0920/30, 1.0880/1.0900 and/or further breakout variant up to 1.0820/40, 1.0780/1.0800. An alternative for buyers will be above 1.1020 with the targets 1.0060/80.
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 preservation of relative activity parity of both parties gives grounds to presume a possibility of period of range movement of the rate and now taking into account the active stage of bullish development we assume a possibility of attainment of the nearest resistance levels on Senkou Span line and Ichimoku indicator at 1.8520/40, 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 1.8460/80, 1.8380/1.8400 and/or further breakout variant up to 1.8320/40, 1.8280/1.8300. An alternative for sells on condition of formation of topping signals the targets will be 1.8460/80, 1.8380/1.8400 and/or further breakout variant up to 1.8320/40, 1.8280/1.8300. An alternative for buyers will be above 1.8610 with the targets 1.8660/80, 1.8720/40, 1.8780/1.8800.
JPY
The pre-planned breakout variant for sells has been realized and the attainment of assumed targets is being supported by the active stage of bearish development with a break of previous stage of bullish counteraction. At present taking into account the character of parties’ activity on the charts with shorter time interval by OsMA indicator with key guiding line of Ichimoku cloud, we assume a possibility of insignificant rate correction to 109.20/30, 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 108.40/60, 108.00/20 and/or further breakout variant up to 107.80/108.00, 107.20/40, 106.60/80. An alternative for buyers will be above 109.60 with the targets 110.00/20, 110.40/60.
EUR
At 1.4670/90 (Kijun-sen line) 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 1.4730/40, 1.4760/80 and/or further breakout variant above 1.4820 with the targets 1.4860/80, 1.4900/20. An alternative for sells will be below 1.4620 with the targets 1.4560/80
 
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