Instaforex

Friday, October 3, 2008

Technical analysis for October 03, 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 assumed target. OsMA trend indicator, having marked the formation of bearish reverse signal and further relative bearish resistance rise gives reasons about the beginning of rate correction period but without reasons to change planning priorities in favor of sells. Hence and considering the bearish sign of indicator chart we assume the possibility of attainment 1.1230/50 support, 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 1.1290/1.1310, 1.1360/80, 1.1400/20 and/or further breakout variant up to 1.1460/80, 1.1520/40, 1.1580/1.1600.
An alternative for sells will be below 1.1120 with targets 1.1060/80, 1.100/20.
GBP
The pre-planned breakout variant for sells was realized but with several points damage in the attainment of minimal assumed target. OsMA trend indicator, having marked the relative bullish activity rise nevertheless does not provide definiteness in the choice of planning priorities for today but considering the chosen strategy gives reasons for assumptions about the possible range rate movement in the close outlook. Hence and considering the present moment further bullish cycle development we assume the possibility of attainment 1.7800/20 resistance, 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 1.7720/40, 1.7640/60, 1.7550/70 and/or further breakout variant up to 1.7480/1.7500, 1.7420/40, 1.7380/1.7400.
An alternative for buyers will be above 1.7900 with targets 1.7960/80, 1.8020/40.
JPY
The pre-planned breakout variant for sells was realized but with damage to several points of minimal assumed target attainment. OsMA trend indicator, having marked continuation of both parties activity fall as before gives reasons for assumptions about further range rate movement and hence considering the current bullish development period we assume the possibility of attainment 105.60/80 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 105.00/20 and/or further breakout variant below 104.80 with targets 104.20/40, 103.60/80.
An alternative for buyers will be above 106.00 with targets 106.40/60, 106.90/107.10, 107.60/80.
EUR
The pre-planned breakout variant for sells was realized with attainment of basic assumed targets. OsMA trend indicator, having marked the formation of bullish reverse signal with further relative bullish activity rise gives reasons for assumptions on the beginning of rate correction period but with the preservation sells planning priorities. Hence and considering bullish position on indicator chart we assume the possibility of pair return to 1.3980/1.4000 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 1.3910/30, 1.3840/60, 1.3780/1.3800 and/or further breakout variant below 1.3740 with targets 1.3680/1.3700, 1.3620/40, 1.3560/80, 1.3500/20.
An alternative for buyers will be above 1.4050 with targets 1.4090/1.4110, 1.4160/80, 1.4200/20.
 
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