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Main » Articles » Technical Analysis

Technical analysis for December 17, 2009

CHF

The pre-planned long positions from key supports have been implemented with overlap of minimal anticipated target. OsMA trend indicator, having marked break of key resistance range levels by priority of bullish activity, gives grounds for preservation of bullish direction priority in planning trading operations for today. Therefore, at this point, considering bullish current bullish cycle of indicator chart, we can assume a petty rate correction to close 1,0420/40 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 buying positions on condition of the formation of topping signals the targets will be 1,0480/1,0500 and (or) further break-out variant up to 1,0540/60, 1,0600/20, 1,0660/80. The alternative for sales will be below 1,0380 with the targets of 1,0320/40, 1,0260/80.

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  GBP

The estimated test for implementation of the pre-planned long positions has not been confirmed, however, the result of the previous trading day as parity of both party activity does not clarify the choice of planning priorities for today. Therefore, preferring the case of rate range movement and taking into account current bearish cycle of indicator chart, we can assume reaching 1,6200/20 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 1,6260/80, 1,6340/60, 1,6400/40 and (or) further break-out variant up to 1,6480/1,6500, 1,6540/60, 1,6600/20. The alternative for sales will be below 1,6160 with the targets of 1,6100/20, 1,6040/60, 1,5980/1,6000.

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  JPY

The estimated test of key supports for implementation of the pre-planned long positions has not been confirmed, low activity of both parties as the result of the previous trading day, gives grounds for some correction to the earlier designed, but not implemented trading plans. Namely, we can assume probability of rate return to close 89,60/80 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 90,20/40, 90,80/91,00 and (or) further break-out variant up to 91,40/60, 92,00/20. The alternative for sales will be below 89,00 with the targets of 88,40/60, 87,80/88,00.

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  EUR

The pre-planned short positions from key resistance range levels have been implemented with attainment of basic anticipated targets. OsMA trend indicator, having marked break of key supports by relative rise in sales activity, gives grounds for preservation of bearish direction priority in planning trading operations for today. At this point, considering current bearish cycle we can assume a petty rate correction to 1,4420/40 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 sales on condition of the formation of topping signals the targets will be 1,4340/60 and (or) further break-out variant up to 1,4280/1,4300, 1,4220/40. The alternative for buyers will be above 1,4540 with the targets of 1,4580/1,4600, 1,4640/60, 1,4700/20.

Category: Technical Analysis | Added by: forex-market (2009-12-17)
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