Technical analysis for October 16, 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

At 1.1380/1.1400 supports 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 1.1440/60, 1.1500/20 and/or further breakout variant up to 1.1560/80, 1.1600/20.

An alternative for sells will be below 1.1340 with targets 1.1280/1.1300, 1.1220/40, 1.1180/1.1200.

GBP
The pre-planned positions for sell from key resistance range were realized with attainment of assumed targets. OsMA trend indicator, having marked bearish activity progress will support bearish planning priorities preservation for today as well. Hence and considering the ascending direction of indicator chart we assume the possibility of pair return at 1.7380/1.7400, 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 1.7300/20, 1.7240/60, 1.7120/40 and/or further breakout variant up to 1.7040/60, 1.6960/80, 1.6880/1.6900.

An alternative for buyers will be above 1.7510 with targets 1.7560/80, 1.7620/40, 1.7680/1.7700.

JPY
The pre-planned breakout variant for sells was realized but with damage of several points in attainment of minimal assumed target. OsMA trend indicator, having marked as a result of the past day bearish activity advantage gives reasons for the preservation of early chosen planning priorities for today as well. Hence and considering the ascending direction of indicator chart we assume the possibility of pair return to 100.60/80 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 100.00/20, 99.20/40 and/or further breakout variant up to 98.60/80, 98.00/20, 97.40/60, 96.20/40.

An alternative for buyers will be above 101.60 with targets 102.00/20, 102.60/80, 103.00/20.

EUR
The pre-planned positions for sell from key resistance range were realized with attainment of basic assumed targets. OsMA trend indicator, having marked as a result of the past trading day bearish activity preservation gives reasons for the preservation of earlier chosen planning priorities for today as well. At the moment considering the signs of slight pair oversold we assume the possibility of rate correction to close 1.3480/1.3500 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 1.3420/40, 1.3340/60, 1.3260/80 and/or further breakout variant below 1.3200 with targets 1.3140/60, 1.3060/80, 1.3000/20.

An alternative for buyers will be above 1.3600 with targets 1.3640/60, 1.3700/20, 1.3760/80.