Instaforex

Tuesday, November 4, 2008

Technical analysis for November 04, 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

USDCHF
At 1.1680/1.1700 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 1.1750/70, 1.1800/20 and/or further breakout variant up to 1.1860/80, 1.1920/40, 1.1980/2.0000. An alternative for sells will be below 1.1600 with targets 1.1540/60, 1.1460/80.
GBPUSD
The pre-planned breakout variant for sells was realized with overlap of assumed targets. OsMA trend indicator, having marked as a result of the last trading day high bearish activity level and considering the chosen strategy gives reasons for the corresponding choice of planning priorities for today. At the moment taking into account the sign of pair oversold and the lack of sustained bearish resistance level we assume the possibility of slight rate correction with pair return to 1.5760/80 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 1.5680/1.5700, 1.5600/20 and/or further breakout variant up to 1.5520/40, 1.5400/20, 1.5280/1.5300. An alternative for buyers will be above 1.5840 with targets 1.5880/1.5900, 1.5960/80.
USDJPY
The possibility of Ichimoku cloud bottom test at 97.80/98.00, 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 98.60/80, 99.20/40, 100.00/20 and/or further breakout variant up to 100.60/80, 101.40/60, 102.00/20. An alternative for sells will be below 97.00 with targets 96.20/40, 95.60/80, 95.00/20.
EURUSD
At 1.2680/1.2700 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 1.2600/20, 1.2520/40 and/or further breakout variant below 1.2500 with targets 1.2420/40, 1.2360/80, 1.2310/30. An alternative for buyers will be above 1.2820 with targets 1.2870/90, 1.2940/60, 1.3000/20.

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