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Main » Articles » Technical Analysis

Technical analysis for November 6 , 2009

CHF

The estimated test of key resistance range levels was not confirmed and activity fall of both parties as the result of previous trading day gives grounds for preservation of trading plan made before almost intact. Namely, we can assume probability of rate return to channel line «3» 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 shorter time interval. As for short-term sales positions on condition of the formation of topping signals the targets will be 1,0140/60, 1,0100/20 and (or) further break-out variant up to 1,0040/60, 0,9980/1,0000. The alternative for buyers will be above 1,0250 with the targets of 1,0290/1,0310, 1,0350/70, 1,0420/40.

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  GBP

The estimated test of key supports for the implementation of pre-planned buying positions has not exactly been confirmed but the estimated rate rise has marked signs of rate overbought and has considerably diminished the perspective of preservation of implemented long positions from variant of break-out of key resistance. Therefore, at the moment, considering activity fall of both parties as a probable period of rate range movement we can assume probability of rate return to close 1,6540/60 supports where it is recommended to evaluate the development of the activity of both parties in accordance with the charts of shorter time interval. As for short-term buying positions on condition of formation of topping signals the targets will be 1,6600/20, 1,6660/80, 1,6700/20 and (or) further break-out variant up to 1,6760/80, 1,6840/60, 1,6960/1,7000. The alternative for sales will be below 1,6460 with the targets of 1,6400/20, 1,6340/60, 1,6240/60.

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  JPY

The pre-planned test of key resistance range levels was confirmed with conditions for the implementation of pre-planned short positions. Therefore, considering the trading plan made before, the targets for opened sales will be 90,00/20 levels and (or) further break-out variant up to 89,40/60, 88,80/89,00, 88,20/40. The alternative for buyers will be above 91,40 with the targets of 91,80/92,00, 92,40/60.

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  EUR

The pre-planned long positions from key supports were implemented with the achievement of minimal estimated targets. OsMA trend indicator having marked activity fall of both parties, does not clarify the choice of planning priorities for today. Therefore, considering the suppositions of further rate range movement we can assume probability of rate return to 1,4820/40 levels where it is recommended to evaluate the development of the activity of both parties in accordance with the charts of shorter time interval. As for short-term buying positions on condition of the formation of topping signals the targets will be 1,4880/1,4900, 1,4920/40 and (or) further break-out variant up to 1,4980/1,5000, 1,5040/60. The alternative for sales will be above 1,4750 with the targets of 1,4690/1,4710, 1,4620/40.

Category: Technical Analysis | Added by: forex-market (2009-11-06)
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