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Main » Articles » Currency trading

Technical analysis for July 10, 2009

CHF

The pre-planned break-out variant for sales has been implemented but with damage to several points in achievement of minimal anticipated target. OsMA trend indicator, having marked activity parity of both parties as a result of previous trading day, does not clarify the choice of planning priorities for today. Therefore, considering assumed probable rate range movement and sign of bullish development incompleteness, we can assume probable rate return to borders of Ichimoku cloud to 1,0870/90 levels, where it is recommended to evaluate the development of the activity of both parties in accordance with the charts of a shorter time interval. As for short-term sales on condition of the formation of topping signals the targets will be 1,0820/30, 1,0740/60, 1,0700/20 and (or) further break-out variant up to до 1,0640/60, 1,0580/1,0600. The alternative for buyers will be above 1,0960 with the targets of 1,1000/20, 1,1060/80, 1,1140/60.

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  GBP

The pre-planned break-out variant for buyers has been implemented with achievement of minimal anticipated target. OsMA trend indicator, having marked relatively high level of bullish activity, gives grounds favoring buying choice for planning of trading operations for today. Hence and considering current bearish activity cycle, we can assume probability of rate correction within borders of Ichimoku cloud with rate return to 1,6220/40 support levels, where it is recommended to evaluate the development of the activity of both parties in accordance with the charts of a shorter time interval. As for short-term buying positions on condition of the formation of topping signals the targets will be 1,6300/20, 1,6380/1,6420 and (or) further break-out variant up to до 1,6460/80, 1,6520/40, 1,6600/40. The alternative for sales will be below 1,6100 with the targets of 1,6020/40, 1,5960/80.

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  JPY

The estimated test of key resistance range levels for implementation of pre-planned short positions has not completely been confirmed and at this point, considering fall of both party activity and preservation of bearish party priority, earlier chosen plans for trading remain practically unchanged. Therefore, we can assume probability of another test of 93,40/60 resistance range levels, where it is recommended to evaluate the development of the activity of both parties in accordance with the charts of a shorter time interval. As for short-term sales on condition of the formation of topping signals the targets will be 92,60/80, 92,00/20, 91,60/80 and (or) further break-out variant up to 91,00/20, 90,40/60, 89,80/90,00. The alternative for buyers will be above 94,40 with the targets of 94,80/95,00, 95,60/80.

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  EUR

The pre-planned break-out variant for buyers has been implemented with overlap of minimal anticipated target. OsMA trend indicator, having marked break of key resistance range levels by relative buying activity rise, considering the chose strategy gives grounds in favor of buying priorities for planning of trading operations for today. Hence and considering current bearish cycle of indicator trend, we can assume probability of test of close 1,3940/60 support level, where it is recommended to evaluate the development of the activity of both parties in accordance with the charts of a shorter time interval. As for short-term buying positions on condition of the formation of topping signals the targets will be 1,4000/20, 1,4060/80 and (or) further break-out variant up to 1,4120/40, 1,4180/1,4200. The alternative for sales will be below 1,3900 with the targets of 1,3820/40, 1,3740/60.

Category: Currency trading | Added by: forex-market (2009-07-10)
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