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Main » Articles » Technical Analysis

Technical analysis for November 18 , 2009

CHF

The estimated test of key resistance range levels has been confirmed, but relative rise in bullish activity, marked by OsMA trend indicator, was not considered to be a positive moment for implementation of the pre-planned short positions. Therefore, considering logical incompleteness of bullish development and taking into account current bearish direction of indicator chart, we can assume probability of rate return to channel line 4 contained in 1,0120/40, 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 1,0180/1,0220 and (or) further break-out variant up to 1,0260/80, 1,0320/40. The alternative for sales will be below 1,0090 with the targets of 1,0020/40, 0,9940/60, 0,9860/0,9900.

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  GBP

The pre-planned buying positions from key supports have been implemented with attainment of minimal anticipated target. OsMA trend indicator, having marked tendency of bearish activity strengthening combined with fall in bullish opposition gives grounds for choosing bearish party for planning priorities for today. Therefore, we can assume probability of another test of tops of this month at 1,6840/60 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 1,6760/80, 1,6700/20, 1,6640/60 and (or) further break-out variant up to 1,6580/1,6600, 1,6520/40, 1,6460/80. The alternative for buyers will be above 1,6900 with the targets of 1,6940/60, 1,7000/20, 1,7060/80.

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  JPY

The estimated test of key resistance range levels has been confirmed, but relative rise in bullish activity, marked by OsMA trend indicator, was not considered to be a positive moment for implementation of the pre-planned short positions. Therefore, at this point, considering situation as favoring tendency of buying activity strengthening and taking into account current sales activity cycle we can assume probability of rate return to close 88,80/89,00 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 89,40/60, 90,00/20 and (or) further break-out variant up to 90,60/80, 91,20/40. The alternative for resumed sales will be below 88,60 with the targets of 88,00/20, 87,40/60.

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  EUR

The pre-planned break-out variant for sales has been implemented with attainment of minimal anticipated target. OsMA trend indicator, having marked high level of bearish activity at break of key supports gives grounds for supposition of at least incompleteness of rate decline cycle. Therefore, considering upward indicator direction we can assume probability of rate return to close 1,4900/20 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 1,4840/60, 1,4780/1,4800 and (or) further break-out variant up to 1,4720/40, 1,4660/80, 1,4600/20. The alternative for buyers will be above 1,4950 with the targets of 1,4990/1,5010, 1,5050/70, 1,5100/20.

Category: Technical Analysis | Added by: forex-market (2009-11-18)
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