Instaforex

Thursday, October 30, 2008

Technical analysis for October 30, 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 1.1320/40 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 1.1240/60, 1.1160/80 and/or further breakout variant up to 1.1100/20, 1.1060/80, 1.1000/20. An alternative for buyers will be above 1.1400 with targets 1.1460/80, 1.1540/60, 1.1600/20.
GBP
The pre-planned breakout variant for buyers was realized with overlap of assumed targets. OsMA trend indicator, having marked signs of pair overbought in the scope of general bearish activity fall does not give definiteness in the choice of planning priorities for today. Hence and considering the chosen strategy aiming at trading risks decreasing we assume the possibility of pair return to upper boundary of Ichimoku cloud at 1.6260/1.6300, 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 1.6380/1.6400, 1.6500/20, 1.6640/60 and/or further breakout variant above 1.6700 with targets 1.6760/80, 1.6820/40.
An alternative for sells will be below 1.6180 with targets 1.6100/20, 1.6000/20, 1.5860/80, 1.5720/40.
JPY
The pre-planned breakout variant for buyers was realized with attainment of basic assumed targets. OsMA trend indicator, having marked general absence of signs for planning priorities choice gives reasons for assumptions about possible range rate movement continuation. Hence and considering the ascending direction of indicator chart and the absence of earlier expected rate rise we assume the possibility of current week upside attainment and slight renovation at 99.80/100.00 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 99.00/20, 98.20/40, 97.60/80 and/or further breakout variant up to 97.00/20, 96.40/60, 96.00/20.
An alternative for buyers will be above 101.20 with targets 101.60/80, 102.20/40, 102.80/103.00.
EUR
At 1.3040/60 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 1.3120/40, 1.3200/20, 1.3280/1.3300 and/or further breakout variant up to 1.3360/80, 1.3420/40, 1.3500/20. An alternative for sells will be below 1.2960 with targets 1.2900/20, 1.2840/60.

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