Instaforex

Wednesday, October 29, 2008

Technical analysis for October 29, 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 1.1570/90 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 1.1510/30, 1.1460/80 and/or further breakout variant up to 1.1400/20, 1.1340/60, 1.1290/1.1310. An alternative for buyers will be above 1.1630 with targets 1.1670/90, 1.1730/50.
GBP
At 1.5840/60 range 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 1.5920/40, 1.6000/20, 1.6080/1.6100 and/or further breakout variant above 1.6140 with targets 1.6180/1.6200, 1.6280/1.6300, 1.6400/20. An alternative for sells will be below 1.5760 with targets 1.5660/80, 1.5580/1.5600.
JPY
The pre-planned breakout variant for buyers was realized with attainment of assumed targets. OsMA trend indicator, having marked in the scope of bullish party advantage relative bearish resistance rise gives reasons for assumptions about further rate correction period but with preservation of buying planning priorities for today as well. Hence and considering bearish position of indicator chart we assume the possibility of another test of close 96.00/20 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 96.60/80, 97.20/40, 97.80/98.00 and/or further breakout variant up to 98.40/60, 99.00/20, 99.60/80.
An alternative for sells will be below 95.00 with targets 94.40/60, 93.80/94.00.
EUR
The pre-planned buying positions from key supports were realized with overlap of assumed targets. OsMA trend indicator, having marked further bullish activity continues supporting buying planning priority for today as well. Hence and considering the descending direction of indicator chart we assume the possibility of pair return to 1.2660/80 supports, where it is recommended to evaluate the activity development of both parties according to the charts of shorter time interval.
For buying positions on condition of formation of topping signals the targets will be 1.2720/40, 1.2780/1.2800, 1.2840/60 and/or further breakout variant up to 1.2900/20, 1.2960/80, 1.3020/40.
An alternative for sells will be below 1.2560 with targets 1.2500/20, 1.2440/60, 1.2380/1.2400.

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