Instaforex

Friday, October 24, 2008

Technical analysis for October 24, 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-planned buying positions from key supports were realized with attainment of basic assumed targets. OsMA trend indicator, having marked bullish activity balancing signs within boundaries of parties parity gives reasons for assumptions about possible period of range rate movement without definiteness in the choice of planning priorities for today. Hence and considering reverse moment of indicator chart we assume the possibility of rate return to upper boundary of Ichimoku cloud at 1.1560/80 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 1.1620/40, 1.1680/1.1700, 1.1720/40 and/or further breakout variant up to 1.1780/1.1800, 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
At 1.6140/60 resistance range 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 1.6080/1.6100, 1.6020/40, 1.5960/80 and/or further breakout variant up to 1.5900/20, 1.5820/40, 1.5740/60, 1.5680/1.5700.
An alternative for buyers will be above 1.6360 with targets 1.6400/20, 1.6480/1.6500, 1.6560/80, and 1.6620/40.
JPY
The pre-planned positions for sell from key resistance range were realized with attainment of basic assumed targets. OsMA trend indicator, having marked resumption of bearish activity advantage continues supporting sells planning priority for today as well. Hence considering the current descending direction of indicator chart we assume the possibility of mere rate correction with pair return to 96.40/60 resistance 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 95.80/96.00, 95.20/40, 94.80/95.00 and/or further breakout variant up to 94.20/40, 93.60/80.
An alternative for buyers will be above 98.20 with targets 98.60/80, 99.20/40.
EUR
The pre-planned positions to sell from key resistance range were realized with attainment of minimal assumed targets. OsMA trend indicator, having marked general activity parity of both parties gives reasons for assumptions about period of range rate movement without definiteness in the choice of planning priorities for today. Hence and considering bearish development incompleteness we assume the possibility of pair return to close 1.2860/80 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 1.2800/20, 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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