Instaforex

Tuesday, September 2, 2008

Technical analysis for September 02, 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 presumed pair return to the key supports has been confirmed but the relative rise of bearish activity revealed by OsMA indicator did not promote to realization of the pre-planned buyers’ positions. At present taking into account the features of incompletion of bearish development with a lack of marked priorities for planning of trading operations for today, we assume a possibility of pair return to supports along B Senkou Span line of Ichimoku cloud at 1.0980/90, 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 1.1030/50, 1.1080/1.1100 and/or further breakout variant up to 1.1140/60, 1.1200/20. An alternative for sells will be below 1.0940 with the targets 1.0880/1.0900, 1.0820/40.
GBP
At 1.8010/30 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 1.7920/40, 1.7840/60 and/or further breakout variant up to 1.7780/1.7800, 1.7700/20, 1.7640/60. An alternative for buyers will be above 1.8100 with the targets 1.8140/60, 1.8200/20.
JPY
The pre-planned breakout variant for sells has been realized but without attainment of assumed targets within previous trading day. OsMA trend indicator having generally marked the close parity of parties’ activity gives grounds to presume a possibility of range movement of the rate without clearness in a choice of planning priorities for today. At present taking into account the descending direction of indicator chart, we assume a possibility of pair return to supports 107.60/80, 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 108.20/40, 108.60/70 and/or further breakout variant up to 109.10/30, 109.70/90. An alternative for sells will be below 107.20 with the targets 106.60/80, 106.00/20.
EUR
At resistance range 1.4600/20, 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 1.4540/60, 1.4480/1.4500 and/or further breakout variant up to 1.4420/40, 1.4380/1.4400, 1.4320/40. An alternative for buyers will be above 1.4670 with the targets 1.4710/30, 1.4770/90.
 
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