Instaforex

Tuesday, September 16, 2008

Technical analysis for September 16, 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 with attainment of minimal assumed target. OsMA trend indicator, having marked the near activity parity of both parties does not provide definiteness in choosing planning priorities for today. Hence, considering the chosen strategy we assume the possibility of range rate movement with the pair return to the bottom of Ichimoku cloud in 1.1220/40, where it is recommended to evaluate the activity development of both parties according to the charts of shorter time interval.
For short-term sells on condition of formation of topping signals the targets will be 1.1140/60, 1.1060/80, 1.1000/20 and/or further breakout variant up to 1.0940/60, 1.0860/80.
An alternative for buyers will be above 1.1300 with targets 1.1340/60, 1.1400/20.
GBP
The pre-planned breakout variant for sells was realized with attainment of basic assumed targets. OsMA trend indicator, having marked the advantage of bearish activity at the break of key supports gives reasons for sells planning priorities for today. Hence, and considering the delay in rate fall we assume the possibility of pair return to near resistance range 1.8060/80, where it is recommended to evaluate the activity development of both parties according to the charts of shorter time interval.
For short-term sells on condition of formation of topping signals the targets will be 1.7980/1.8000, 1.7920/40, 1.7860/80 and/or further breakout variant up to 1.7800/20, 1.7720/40, 1.7680/1.7700.
An alternative for buyers will be above 1.8140 with targets 1.8180/1.8200, 1.8260/80, 1.8340/60, 1.8400/20.
JPY
The pre-planned breakout variant for sells was realized with overlap of minimal assumed target. OsMA trend indicator, having marked the sign of pair overbought have not displayed yet the confirming buying activity strengthening giving reasons to preserve bearish planning priorities but on condition of the possible rate correction for which key resistance ranges will be 105.40/60, where it is recommended to evaluate the activity development of both parties according to the charts of shorter time interval.
For short-term sells on condition of formation of topping signals the targets will be 104.80/105.00, 104.20/40, 103.60/80 and/or further breakout variant up to 103.00/20, 102.60/80.
An alternative for buyers will be above 106.40 with targets 106.80/107.00, 107.40/60.
EUR
The possibility of pair return to ranges 1.4290/1.4310, where it is recommended to evaluate the activity development of both parties according to the charts of shorter time interval.
For sells on condition of formation of topping signals the targets will be 1.4220/40, 1.4140/60 and/or further breakout variant up to 1.4080/1.4100, 1.4020/40, 1.3980/1.4000.
An alternative for buyers will be above 1.4340 with targets 1.4380/1.4400, 1.4460/80, 1.4540/60, 1.4600/20.
 
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