Instaforex

Monday, September 8, 2008

Technical analysis for September 08, 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 was realized but without attainment of presumed targets within the past trading day. OsMA trend indicator, despite the signs of pair overbought nevertheless it kept the minimum of buying advantages as the basis for maintenance of early opened buying positions. Hence, considering the bearish direction of the indicator chart with practically unknown result of bearish activity development level we assume the possibility of attainment of upper boundary of Ichimoku cloud at 1.1090/1.1110, where it is recommended to evaluate the activity development of both parties according to the charts of shorter time interval. For short-term buying positions on condition of formation of topping signals the targets will be 1.1150/70, 1.1210/30 and/or further breakout variant up to 1.1270/90, 1.1310/30. An alternative for sells will be below 1.1070 with targets 1.1010/30, 1.0960/80.
GBP
The pre-planned breakout variant for buyers was realized with overlap of presumed targets. OsMA trend indicator, having marked the high level of bullish activity at the breakout of key support levels range according to the chosen strategy gives reasons for buying priorities of planning for today. Hence and considering the reversal factor of chart indicator we presume the possibility of pair return to the bottom of Ichimoku cloud at 1.7800/20, where it is recommended to evaluate the activity development of both parties according to the charts of shorter time interval. For buying positions on condition of formation of topping signals the targets will be 1.7880/1.7900, 1.7960/80, 1.8020/40 and/or further breakout variant up to 1.8080/1.8100, 1.8140/60, 1.8200/20. An alternative for sells will be below 1.7760 with targets 1.7700/20, 1.7620/40, 1.7540/60.
JPY
The pre-planned breakout variant for buyers was realized with attainment of presumed targets. OsMA trend indicator, having marked the essential level of bullish activity leaves no other variants except the buying choice of planning priorities for today. Hence and considering the reverse of indicator chart we assume the possibility of pair return to the nearest supports 108.20/40, where it is recommended to evaluate the activity development of both parties according to the charts of shorter time interval. For buying positions on condition of formation of topping signals the targets will be 108.80/109.00, 109.30/50 and/or further breakout variant up to 109.90/110.10, 110.50/70. An alternative for sells will be below 107.60 with targets 107.00/20, 106.40/60, 105.60/80.
EUR
At 1.4360/80(supports), where it is recommended to evaluate the activity development of both parties according to the charts of shorter time interval. For short-term buying positions on condition of formation of topping signals the targets will be 1.4420/40, 1.4480/1.4500 and/or further breakout variant up to 1.4540/60, 1.4590/1.4610. An alternative for sells will be below 1.4290 with targets 1.4210/30, 1.4170/90.
 
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