Instaforex

Friday, October 10, 2008

Technical analysis for October 10, 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 presumed key supports test for buying positions realization was not confirmed but the low activity preservation of both parties considering the chosen strategy gives reasons for the preservation of former trading planes practically unchanged. Hence, as before we assume the possibility of attainment close 1.1200/20 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 1.1260/80, 1.1320/40, 1.1380/1.1400 and/or further breakout variant up to 1.1460/80, 1.1500/20.
An alternative for sells as before will be below 1.1140 with targets 1.1080/1.1100, 1.1020/40, 1.0980/1.1000.
GBP
The pre-planned positions for sell from key resistance range were realized with overlap of assumed targets. OsMA trend indicator, having marked the bearish activity advantage gives reasons for the preservation of sells planning priorities but considering the earlier displayed relative bullish activity rise we assume the possibility of relatively deep rate correction with key resistance range at 1.7100/20, 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 1.7000/20, 1.6920/40, 1.6840/60, 1.6760/80 and/or further breakout variant up to 1.6680/1.6700, 1.6600/20, 1.6520/40.
An alternative for buyers as before will be above 1.7300 with targets 1.7360/80, 1.7440/60, 1.7500/20, 1.7620/40.
JPY
At 100.60/80 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 100.00/20, 99.20/40, 98.40/60 and/or further breakout variant below 97.80 with targets 97.20/40, 96.40/60, 95.80/96.00.
An alternative for buyers as before will be above 102.20 with targets 102.60/80, 103.20/40, 104.00/20, 104.80/105.00, 105.60/80.
EUR
The presumed test of key support range was confirmed with conditions for the realization of the pre-planned buying positions. OsMA trend indicator, having marked the sign of pair oversold supports the preservation of buying positions but also considering the general minimal bearish advantage we assume the possibility of another test 1.3480/1.3500 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 1.3540/60, 1.3600/20, 1.3660/80 and/or further breakout variant up to 1.3720/40, 1.3780/1.3800, 1.3860/80.
An alternative for sells as before will be below 1.3400 with targets 1.3340/60, 1.3260/80, 1.320/20.

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