Instaforex

Monday, October 6, 2008

Technical analysis for October 06, 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 buying positions from key supports were realized with attainment of basic assumed targets. OsMA trend indicator, having marked the general low activity level of both parties considering the chosen strategy gives reasons for assumptions about range rate movement in the near outlook without definiteness in the choice of planning priorities for today. Hence considering the bullish position of indicator chart we assume the possibility of another test of the earlier attained tops at 1.1400/20 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 1.1340/60, 1.1280/1.1300 and/or further breakout variant up to 1.1210/30, 1.1140/60, 1.1100/20.
An alternative for buyers will be above 1.1500 with targets 1.1540/60, 1.1600/20.
GBP
The pre-planned sells from key resistance range were realized with attainment of basic assumed targets. OsMA trend indicator, having marked relatively high level of bearish activity considering the chosen strategy gives reasons for the preservation of sells planning priorities for today as well and at the moment we assume the possibility of pair return to the close 1.7640/60 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 sells on condition of formation of topping signals the targets will be 1.7560/80, 1.7500/20 and/or further breakout variant up to 1.7440/60, 1.7380/1.7400.
An alternative for buyers will be above 1.7840 with targets 1.7880/1.7900, 1.7960/80, 1.8000/20.
JPY
The pre-planned breakout variant for sells was realized with overlap of assumed targets. OsMA trend indicator, having marked the essential bearish activity rise gives reasons for the preservation of sells planning priorities for today as well. Hence and considering the bearish development cycle we assume the possibility of mere rate correction at 103.80/104.00 ranges, 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 103.20/40, 102.80/103.00 and/or further breakout variant up to 102.20/40, 101.60/80, 101.00/20, 100.40/60.
An alternative for buyers will be above 105.40 with targets 105.80/106.00.
EUR
At 1.3720/40 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 1.3660/80, 1.3600/20, 1.3540/60 and/or further breakout variant up to 1.3480/1.3500, 1.3400/20, 1.3320/40, 1.3280/1.3300.
An alternative for buyers will be above 1.3840 with targets 1.3880/1.4000, 1.4060/80, 1.4100/20.
 
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