Instaforex

Friday, October 17, 2008

Technical analysis for October 17, 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 possibility of pair return to 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, 1.1400/20 and/or further breakout variant up to 1.1460/80, 1.1520/40, 1.1580/1.1600.
An alternative for sells will be below 1.1260 with targets 1.1200/20, 1.1140/60, 1.1080/1.1100.
GBP
The past trading day was not reach on events that could provide for the realization of earlier drawn up trading plans. OsMA trend indicator, having marked the preservation of bearish activity advantage gives reasons for the preservation of earlier chosen planning priorities for today as well. Hence, as before, we assume the possibility of pair return to 1.7380/1.7400 range, 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 buyers was realized but displayed by OsMA indicator activity parity of both parties without signs of bullish direction priority gives risk of further pair movement in narrow prices range without definiteness in the choice of planning priority for today and the preservation of earlier opened positions. Hence considering the descending direction of indicator chart we assume the possibility of pair return to 101.00/20 support range, 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 101.60/80, 102.20/40 and/or further breakout variant up to 102.80/103.00, 103.40/60, 104.00/20.
An alternative for sells will be below 100.40 with targets 99.80/100.00, 99.20/40, 98.60/80, 98.00/20.
EUR
The pre-planned positions for sell from key resistance range were realized with overlap of minimal assumed target. OsMA trend indicator, having marked general close activity parity of both parties gives reasons for assumptions about possible range rate movement without definiteness in the choice of planning priorities for today. At the moment considering the sign of bullish activity fall we presume the possibility of pair return to 1.3440/60, 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 1.3500/20, 1.3560/80, 1.3600/20 and/or further breakout variant up to 1.3660/80, 1.3720/40, 1.3800/20, 1.3860/80.
An alternative for sells will be below 1.3400 with targets 1.3340/60, 1.3280/1.3300, and 1.3220/40.

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