Instaforex

Monday, September 1, 2008

Technical analysis for September 01, 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 without attainment of assumed targets within previous trading day. OsMA trend indicator having marked the activity fall of both parties does not bring in clearness to a choice of planning priorities for today. Nevertheless taking into account general preservation of some advantage of bullish party and taking into account a possibility of range movement of the rate, we assume a possibility of pair return to the nearest supports 1.0990/1.1000, 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 1.1040/50, 1.1080/1.1100 and/or further breakout variant up to 1.1140/60, 1.1200/20. An alternative for sells will be below 1.0950 with the targets 1.0890/1.0910, 1.0820/40.
GBP
At resistance range 1.8100/20 it is recommended to evaluate the activity development according to the charts of shorter time interval. For sells on condition of formation of topping signals the targets will be 1.8020/40, 1.7960/80 and/or further breakout variant up to 1.7900/20, 1.7820/40, 1.7760/80. An alternative for buyers will be above 1.8200 with the targets 1.8240/60, 1.8300/20.
JPY
The presumed test of the key resistance range for realization of the pre-planned short positions has not been confirmed and further parties’ activity within the parity gives grounds to presume a possibility of further preservation of existent tendency as per the version of descending trading channel that is a basic guiding line for planning of trading operations for today. Hence with the first approach we assume a possibility of test of the nearest resistance range 108.65/75, 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 108.10/30, 107.80/90 and/or further breakout variant up to 107.20/40, 106.80/107.00. An alternative for buyers will be above 109.00 with the targets 109.40/60, 109.80/110.00.
EUR
At 1.4580/1.4600 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 above 1.4640 with the targets 1.4680/1.4700, 1.4840/60, 1.4900/20. An alternative for sells will be below 1.4560 with the targets 1.4500/20, 1.4440/60, 1.4400/20.
 
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