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Main » Articles » Technical Analysis

Technical analysis for November 24 , 2009

 CHF

The estimated test of key resistance range levels for implementation of the pre-planned short positions has not been confirmed, but preservation of strengthening of bearish party activity gives grounds for preservation of earlier designed trading plans practically unchanged. Namely, we can assume probability of rate return to close border of Ichimoku cloud at 1,0120/40 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 1,0060/80, 1,0020/30 and (or) further break-out variant up to 0,9960/80, 0,9900/20, 0,9840/60. The alternative for buyers will be above 1,0220 with the targets of 1,0260/80, 1,0320/40.

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  GBP

The estimated test of key resistance range levels has been confirmed, but relative rise in bullish activity, marked by OsMA trend indicator, did not favor implementation of the pre-planned short positions. At this point, considering logical incompleteness of bullish development and taking into account probable bearish direction in planning trading operations, we can assume probability of retest of 1,6640/60 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 1,6560/80, 1,6500/20, 1,6440/60 and (or) further break-out variant up to 1,6380/1,6400, 1,6320/40, 1,6240/60. The alternative for buyers will be above 1,6740 with the targets of 1,6780/1,6800, 1,6860/80.

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  JPY

The earlier opened short positions have had positive result in attainment of minimal anticipated target. Further development confirmed expectations and conditions for implementation of short-term sales and at this point, considering descending direction of indicator chart there are some grounds favoring attainment of minimal anticipated target. Taking into account absence of essential events, as earlier we can assume probability of rate range movement with preservation of earlier designed trading plans practically unchanged. Namely, we can assume probability of another rate return to Ichimoku cloud borders at 89,00/20, 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 88,40/60, 87,80/88,00 and (or) further break-out variant up to 87,20/40, 86,60/80. The alternative for buyers will be above 89,80 with the targets of 90,20/40, 90,80/91,00.

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  EUR

The estimated test of key supports for implementation of the pre-planned long positions has not been confirmed, however, the result of previous trading day combined with priority in bullish party activity gives grounds for preservation of earlier designed trading plans practically unchanged. Namely, we can assume probability of rate return to Senkou Span B line in Ichimoku indicator at 1,4900/20 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 buying positions on condition of the formation of topping signals the targets will be 1,4960/80, 1,5040/60 and (or) further break-out variant up to 1,5100/20, 1,5180/1,5200. The alternative for sales will be below 1,4800 with the targets of 1,4740/90, 1,4680/1,4700, 1,4600/20.

Category: Technical Analysis | Added by: forex-market (2009-11-24)
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