Instaforex

Wednesday, September 17, 2008

Technical analysis for September 17, 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-supposed key resistance range test was confirmed with conditions for the pre-planned buying positions realization. At the moment for the preservation of open short positions we have the positive moment of descending indicator chart in the phase of bearish potential rise but with the sign of certain buyers advantages preservation and open sells intention for the attainment of further targets is baseless for the moment. Hence we assume the attainment of near 1.1160/80 supports, where it is recommended to evaluate the activity development of both parties according to the charts of shorter time interval.
For short-term buyers positions on condition of formation of topping signals the targets will be 1.1220/40, 1.1260/80 and/or further breakout variant up to 1.1320/40, 1.1380/1.1400.
An alternative for sells resumption will be below 1.1120 with targets 1.1060/80, 1.1000/20.
GBP
The pre-planned breakout variant for sells was realized with attainment of basic assumed targets. OsMA trend indicator, having marked the signs of pair overbought, nevertheless did not display the confirming bullish resistance strengthening giving reasons for the preservation of the earlier chosen bearish planning priorities for today as well. Hence at the moment considering the low activity of both parties with the possible rate range movement we assume the test of near 1.7900/20 resistance range, 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 1.7820/40, 1.7760/80 and/or further breakout variant up to 1.7700/20, 1.7640/60, 1.7580/1.7600.
An alternative for buyers will be above 1.7960 with targets 1.8000/20, 1.8080/1.8100, and 1.8120/40.
JPY
The pre-planned breakout variant for buyers was realized but without attainment of presumed targets within boundaries of the last trading day. OsMA trend indicator, having marked the essential buying activity rise gives reasons for the market tones corresponding choice of planning priorities for today. Hence and considering the descending indicator chart we assume the possibility of pair return to 105.50/60 resistance range, 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 105.90/106.00, 106.40/60, 107.00/20 and/or further breakout variant up to 107.60/80, 108.00/20, 108.60/80.
An alternative for sells will be below 104.80 with 104.20/40, 103.60/80.
EUR
Pair return to ranges 1.4280/1.4300 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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