Instaforex

Thursday, October 23, 2008

Technical analysis for October 23, 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 1.1540/60 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 1.1600/20, 1.1660/80, 1.1700/20 and/or further breakout variant up to 1.1760/80, 1.1840/60, 1.1900/20. An alternative for sells will be below 1.1480 with targets 1.1420/40, 1.1360/80, 1.1300/20.
GBP
The pre-planned positions for sell from key resistance range were realized with attainment of basic assumed targets. OsMA trend indicator, having marked relative bullish activity rise gives reasons for assumptions about further rate correction period but with preservation of bearish planning priorities for today as well. Hence and considering the ascending direction of indicator chart we assume the possibility of rate return to 1.6480/1.6500 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 1.6400/20, 1.6320/40, 1.6200/20, 1.6100/20 and/or further breakout variant up to 1.6020/40, 1.5960/80, 1.5880/1.5900, 1.5800/20.
An alternative for buyers will be above 1.6600 with targets 1.6660/80, 1.6740/60, 1.6820/40.
JPY
The pre-planned breakout variant for sells was realized with overlap of assumed targets. OsMA trend indicator, having marked signs of pair overbought gives reasons for assumptions about possible rate correction period but with preservation of bearish planning priorities for today as well. Hence we assume the possibility of rate return to 98.00/20 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 97.20/40, 96.60/80 and/or further breakout variant up to 96.00/20, 95.40/60, 95.00/20.
An alternative for buyers will be above 99.20 with targets 99.60/80, 100.00/20.
EUR
The pre-planned positions for sell from key resistance range were realized with attainment of basic assumed targets. OsMA trend indicator, having marked signs of bearish advantage preservation with slight bearish resistance strengthening gives reasons for assumptions of further rate correction period. Hence, as before, we assume the possibility of rate return to 1.2940/60 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 1.2850/70, 1.2740/60, 1.2680/1.2700 and/or further breakout variant up to 1.2600/20, 1.2520/40, 1.2460/80.
An alternative for buyers will be above 1.3120 with targets 1.3160/80, 1.3220/40, 1.3280/1.3300.

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