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Main » Articles » Technical Analysis

Technical analysis for January 11, 2010

CHF

Sustained break of channel line 1 with confirming rise in bearish activity as marked by OsMA trend indicator does not suggest any priority but priority of sales in planning trading operations for today. Therefore, at this point, considering ascending directon of indicator chart we can assume probability of rate return to channel line 1 at 1,0200/20 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 sales on condition of the formation of topping signals the targets will be 1,0140/60, 1,0080/1,0100 and (or) further break-out variant up to 1,0020/40, 0,9960/80, 0,9900/20. The alternative for buyers will be above 1,0260 with the targets of 1,0300/20, 1,0360/80.

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  GBP

The signs of rate overbought accompanied by no clear signs of priority of any party, gives grounds for supposition of probable rate range movement for today. Therefore, considering descending direction of indicator chart we can assume probability of rate return to close 1,6020/40 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 1,6080/1,6120 and (or) further break-out variant up to 1,6160/80, 1,6220/40, 1,6280/1,6300. The alternative for sales will be below 1,5940 with the targets of 1,5880/1,5900, 1,5800/40.

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  JPY

The break of channel line 1 and progress in bearish activity marked by OsMA trend indicator suggests at least incompleteness of rate decline as grounds for favoring sales for today. Therefore, at this point, considering ascending direction of indicator chart, we can assume probability of rate return to channel line 1 at 92,60/80 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 sales on condition of the formation of topping signals the targets will be 92,00/20 and (or) further break-out variant up to 91,40/60, 90,80/91,00. The alternative for buyers will be above 93,20 with the targets of 93,60/80.

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  EUR

The break of last week`s top with priority of bullish activity gives grounds for choosing bullish direction in planning trading operations for today. Therefore, at this point, considering reversal point of OsMA trend indicator, we can assume probability of rate return to close 1,4440/60 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 1,4500/20, 1,4560/80 and (or) further break-out variant up to 1,46620/40, 1,4680/1,4700. The alternative for sales will be below 1,4370 with the targets of 1,4300/20, 1,4200/40.

Category: Technical Analysis | Added by: forex-market (2010-01-11)
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