Instaforex

Monday, November 3, 2008

Technical analysis for November 03, 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 1.1420/40 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 1.1480/1.1500, 1.1560/80, 1.1600/20 and/or further breakout variant up to 1.1660/80, 1.1720/40. An alternative for sells will be below 1.1360 with targets 1.1300/20, 1.1220/40, 1.1140/60, 1.1100/20.
GBP
The pre-planned breakout variant for sells was realized with attainment of basic assumed targets. OsMA trend indicator, having marked relative buying activity rise as confirming sign of reverse bullish signal formation gives reasons for buying direction priority in planning trading operations for today. But considering current bullish development cycle we assume the possibility of slight rate correction to 1.6330/50 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 1.6390/1.6410 and/or further breakout variant above 1.6440 with targets 1.6480/1.6500, 1.6580/1.6600, 1.6660/80. An alternative for sells will be below 1.6280 with targets 1.6200/20, 1.6120/40, 1.6040/60.
JPY
At 100.20/40 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 99.40/60, 98.80/99.00 and/or further breakout variant up to 98.20/40, 97.40/60, 96.80/97.00. An alternative for buyers will be above 101.00 with targets 101.60/80, 102.20/40, 102.80/103.00.
EUR
The pre-supposed test of key resistance range was confirmed with conditions for realization of the pre-planned positions for sell. OsMA trend indicator, having marked general bearish activity preservation gives reasons for the preservation of opened positions for sell but in short-term outlook maintains the possibility of slight rate rise continuation to 1.2900/20, 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 1.2820/40, 1.2740/60 and/or further breakout variant up to 1.2660/80, 1.2600/20, 1.2520/40. An alternative for buyers will be above 1.3000 with targets 1.3050/70, 1.3120/40, 1.3200/20.

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