Instaforex

Friday, August 29, 2008

Technical analysis for August 29, 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 short-term sells from the key resistance range have been realized with attainment of minimal assumed target. OsMA trend indicator having marked further break of boundary resistance range with a strengthening of bullish activity level because of chosen strategy gives grounds to choose buyers’ planning priorities for today. Hence and because of descending direction of indicator chart, we assume a possibility of pair return to supports 1.0900/20, 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 1.0960/80, 1.1010/30 and/or further breakout variant up to 1.1070/90, 1.1110/30. 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 with attainment of minimal assumed target. OsMA trend indicator having marked general activity fall of both parties originates the presumptions about further movement within short-term descending channel with a risk of situation change in favor of bullish party. Hence we assume a possibility of test of the nearest resistance levels of Ichimoku line along Kijun-sen at 1.8360/80, 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 1.8300/20, 1.8240/60 and/or further breakout variant up to 1.8180/1.8200. An alternative for buyers will be above 1.8440 with the targets 1.8480/1.8500, 1.8540/60, 1.8600/20.
JPY
The pre-planned buyers’ positions from the key supports have been realized with attainment of main assumed targets. OsMA trend indicator having marked the activity fall of both parties supports the version about further movement within short-term descending channel with a risk of sharp situation change in favor of bullish party. Hence we assume a possibility of rate return to Ichimoku line along Senkou Span at 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 108.80/90, 108.50/60, 108.00/20 and/or further breakout variant up to 107.40/60, 106.80/107.00. An alternative for buyers will be above 110.00 with the targets 110.40/60, 111.00/20, 111.60/80.
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 1.4740/60, 1.4680/1.4700 and/or further breakout variant below 1.4660 with the targets 1.4600/20, 1.4560/80. An alternative for buyers will be above 1.4840 with the targets 1.4880/1.4900.
 
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