Instaforex

Friday, December 5, 2008

Technical analysis for December 05, 2008

* range, where it is recommended to evaluate the activity development of both parties according to the charts of shorter time interval(1 hour, 30 min based on candlestick patterns )

EURUSD:
*Range 1.2680/1.2700

For buying positions on condition of formation of topping signals the targets will be 1.2760/80, 1.2820/40 and/or further breakout variant up to 1.2880/1.2900, 1.2980/1.3000, 1.3060/80.

An alternative for sells will be below 1.2620 with targets 1.2540/60, 1.2420/40, 1.2340/60.

GBPUSD:
*Range 1.4600/20

For short-term buying positions on condition of formation of topping signals the targets will be 1.4680/1.4700, 1.4760/80, 1.4820/40 and/or further breakout variant up to 1.4900/20, 1.4960/80, 1.5080/1.5100.

An alternative for sells will be below 1.4460 with targets 1.4380/1.4400, 1.4200/20, 1.4120/40.

USDJPY:
*Range

The assumed test of key supports was confirmed but with conditions for realization of the pre-planned buying positions. At the moment considering weakness of bullish party activity there are no reasons to change trading planes and hence the earlier opened positions stay within boundaries of the earlier drawn up trading planes.

For opened buys on condition of formation of topping signals the targets will be 92.60/80, 93.20/40 and/or further breakout variant up to 93.80/94.00, 94.40/60, 95.00/20.

An alternative for sells will be below 91.60 with targets 91.00/20, 90.40/60.

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