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Main » Articles » Currency trading

Technical analysis for July 20, 2009

CHF

The pre-planned short positions from key resistance range levels have been implemented with overlap of minimal anticipated target. OsMA trend indicator, having marked falling of both party activity does not clarify the choice of planning priorities for today. Hence and considering probable rate range movement we can assume probability of rate return to close 1,0780/1,0800 resistance 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 1,0720/40, 1,0680/1,0700 and (or) further break-out variant up to 1,0620/40, 1,0560/80. The alternative for buyers will be above 1,0840 with the targets of 1,0900/20, 1,0960/80, 1,1020/40.

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  GBP

The pre-planned long positions from key supports have been implemented with achievement of minimal anticipated target. OsMA trend indicator, having marked relative activity rise of both parties does not clarify the choice of planning priorities for today. Therefore, considering rate movement above Ichimoku cloud favoring stronger potential of bullish party, we can assume probability of rate return to cloud border contained in 1,6300/20 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 1,6360/80, 1,6440/60, 1,6500/20 and (or) further break-out variant up to 1,6560/80, 1,6620/40, 1,67,00/40. The alternative for sales will be below 1,6240 with the targets of 1,6180/1,6200, 1,6120/40, 1,6040/60.

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  JPY

The pre-planned break-out variant for buyers has been implemented, but a sign of rate overbought marked by OsMA trend indicator cannot be treated as a positive signal regarding further preservation of open long positions. Therefore, considering the given situation as not clarifying the choice of planning priorities for today we can assume probability of another rate return to Ichimoku cloud borders contained in 93,80/94,00 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 94,40/60, 95,00/20 and (or) further break-out variant up to 95,60/80, 96,20/40. The alternative for sales will be below 93,00 with the targets of 92,40/60, 91,80/92,00, 91,20/40.

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  EUR

The pre-planned long positions from key supports have been implemented with overlap of minimal anticipated target. OsMA trend indicator, having marked close parity of both party activity, gives grounds to assume probable rate range movement with no clear choice of planning priorities for today. Hence and considering current bullish cycle of indicator trend, we can assume probability of rate return to close 1,4100/20 supports, 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 1,4160/80, 1,4220/40 and (or) further break-out variant up to 1,4280/1,4300, 1,4340/60, 1,4400/20. The alternative for sales will be below 1,4000 with the targets of 1,3940/60, 1,3860/80, 1,3760/1,3800.

Category: Currency trading | Added by: forex-market (2009-07-20)
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