Instaforex

Wednesday, October 15, 2008

Technical analysis for October 15, 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 test of key resistance range for the pre-planned positions for sell realization was not confirmed and activity fall of both parties gives reasons for the preservation of range strategy principles of trading for today as well. Hence considering descending direction of indicator chart we assume the possibility of rate return to supports limited by Senkou Span-B level of Ichimoku cloud at 1.1290/1.1310, 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 1.1350/70, 1.1420/40 and/or further breakout variant up to 1.1480/1.1500, 1.1560/80.
An alternative for sells will be below 1.1240 with targets 1.1180/1.1200, 1.1120/40, 1.1060/80.
GBP
The pre-planned buying positions from key supports were realized with attainment of basic assumed targets. OsMA trend indicator, having marked pair overbought strengthening with further sells activity level consolidation gives reasons for the bearish planning priority preservation in short-term outlook. Hence and considering the ascending direction of indicator chart we assume the possibility of pair return to earlier attained tops at 1.7580/1.7600, 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 1.7500/20, 1.7420/40, 1.7360/80 and/or further breakout variant up to 1.7300/20, 1.7240/60, 1.7180/1.7200.
An alternative for buyers will be above 1.7660 with targets 1.7700/20, 1.7760/80, 1.7820/40.
JPY
The pre-supposed test of key supports for realization of the pre-planned buying positions was not confirmed but general situation within boundaries of activity parity of both parties gives reasons for the preservation of planning principles considering the ascending direction of OsMA indicator chart we assume the possibility of pair return to 102.10/30, 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 101.40/60, 100.60/80, 100.00/20 and/or further breakout variant below 99.60 with targets 99.00/20, 98.40/60, 97.80/98.00.
An alternative for buyers will be above 103.20 with targets 103.60/80, 104.20/40, 104.80/105.00.
EUR
At 1.3620/40 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 1.3540/60, 1.3460/80 and/or further breakout variant up to 1.3380/1.3400, 1.3300/20, 1.3240/60.
An alternative for buyers will be above 1.3710 with targets 1.3760/80, 1.3820/40, 1.3880/1.3900.

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