Instaforex

Thursday, September 4, 2008

Technical analysis for September 04, 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 sales was realized and attainment of presupposed targets is “supported” by relative rise in bearish activity displayed by OsMA trend indicator at the break of key range of support levels. At the moment taking into account the rise of indicator chart we assume the possibility of minor rate shift to the nearest rate of resistance levels, where it is recommended to evaluate the activity development of both parties according to the charts of shorter time interval. For short-term sales on condition of formation of topping signals the targets will be 1.1020/40, 1.0960/80 and/or further breakout variant up to 1.0900/20, 1.0860/80. An alternative for buyers will be above 1.1120, with targets 1.1160/80, 1.1200/20.
GBP
The presupposed test of key resistance levels range was confirmed, but certain minimal advantages of bullish party have not contributed to the realization of pre-planned positions for sale. Nevertheless at the moment there are no reasons for changing priorities of planning hence according to the chosen strategy and pre-suppositions about the possibilities of pair return to the range 1.7800/20, where it is recommended to evaluate the activity development of both parties according to the charts of shorter time interval. For short-term sales on condition of formation of topping signals the targets will be 1.7720/40, 1.7660/80 and/or further breakout variant up to 1.7600/20, 1.7520/40, 1.7440/60. An alternative for buyers will be above 1.7920 with targets 1.7960/80, 1.8020/40, 1.8080/1.8100.
JPY
The pre-planned breakout variant for sales has been realized with overlap of minimal assumed target. OsMA trend indicator having marked the general situation of preserving bullish party advantage has displayed the signs of incompleteness in the period of corrective rate falling. Hence without having “reliable” indications concerning depth and period of correction we presuppose the possibility of pair return to the bottom of Ichimoku cloud at 108.30/40, where it is recommended to evaluate the activity development of both parties according to the charts of shorter time interval. For short-term sales on condition of formation of topping signals the targets will be 107.90/108.00, 107.50/60 and/or further breakout variant up to 107.10/20, 106.50/70. An alternative for buyers will be above 108.80 with targets 109.10/20, 109.60/80, 110.00/20.
EUR
At 1.4450/70 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 1.4510/30, 1.4570/90 and/or further breakout variant above 1.4620 with targets 1.4660/80, 1.4720/40, 1.4780/1.4800. An alternative for sells will be below 1.4380 with targets 1.4320/40, 1.4280/1.4300.
 
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