Instaforex

Monday, October 27, 2008

Technical analysis for October 27, 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 assumed test of key supports was confirmed but displayed by OsMA indicator essential bearish activity rise was not favorable for immediate realization of the pre-planned buying positions. At the moment estimating the current situation favorable for bearish planning priority but with sign of bearish development incompleteness we assume the possibility of another test of earlier attained tops at 1.1700/20, 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 1.1620/40, 1.1560/80, 1.1500/20 and/or further breakout variant up to 1.1440/60, 1.1380/1.1400, 1.1320/40. An alternative for buyers will be above 1.1800 with targets 1.1840/60, 1.1900/20, 1.1980/1.2000.
GBP
The pre-planned breakout variant for sells was realized with overlap of assumed targets. OsMA trend indicator, having marked essential bearish activity rise at the break of key supports, displayed further corrective rate rise with relatively high level of buying activity but with preservation of sells planning priority. Hence and considering the current low sells activity we assume the possibility of pair return at 1.5900/20 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 1.5820/40, 1.5700/20, 1.5600/20 and/or further breakout variant up to 1.5560 with targets 1.5500/20, 1.5420/40, 1.5340/60, 1.5260/80. An alternative for buyers will be above 1.6060 with targets 1.6100/20, 1.6180/1.6200, 1.6280/1.6300, 1.6380/1.6400.
JPY
The pre-planned breakout variant for sells was realized with overlap of assumed targets. OsMA trend indicator, having marked essential bearish activity rise and bullish resistance strengthening gives reasons for assumptions about rate correction incompleteness but with bearish planning priorities preservation for today as well. Hence we assume the possibility of pair return at 94.40/60 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 9.80/94.00, 93.00/20 and/or further breakout variant up to 92.20/40, 91.60/80, 91.00/20. An alternative for buyers will be above 95.40 with targets 95.80/96.00, 96.40/60, 97.00/20.
EUR
The pre-planned breakout variant for sells was realized with attainment of basic assumed targets. OsMA trend indicator, having marked the essential bearish rise at the break of key supports and lack of sustained bullish resistance gives reasons for the preservation of bearish planning priorities for today as well. Hence at the moment considering low activity level of both parties we assume the possibility of pair return to resistance range 1.2660/80, 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 1.2600/20, 1.2520/40, 1.2460/80 and/or further breakout variant up to 1.2400/20, 1.2320/40, 1.2260/80. An alternative for buyers will be above 1.2780 with targets 1.2820/40, 1.2880/1.2900, and 1.2960/80.

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