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Main » Articles » Technical Analysis

Technical analysis for October 16 , 2009

CHF

The estimated test of key resistance range levels has been confirmed but relative bullish activity rise, marked by OsMA trend indicator did not incline to the implementation of pre-planned short positions. At the moment considering relative bullish activity rise as a sign of rate rise period incompleteness but without confirmative priorities in the choice of planning direction we can assume probability of another test of 1,0180/1,0200 levels achieved before, 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 on condition of formation of topping signals, the targets will be 1,0120/40, 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 1,0240 with the targets of 1,0280/1,0300, 1,0340/60, 1,0420/40.

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  GBP

The pre-planned break-out variant for buyers was implemented but with overlap of estimated targets. OsMA trend indicator having marked bullish activity strengthening at the break of key resistance range levels gives grounds to keep to buyers planning priorities. On the assumption of it, as well as of the sign of rate overbought we can assume probability of rate return to close 1,6280/1,6300 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 1,6340/60, 1,6400/20 and (or) further break-out variant up to 1,6460/80, 1,6540/60, 1,6680/1,6720. The alternative for sales will be below 1,6180 with the targets of 1,6100/20, 1,6040/60, 1,5980/1,6000.

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  JPY

The pre-planned break-out variant for buyers was implemented with the achievement of minimal estimated target. OsMA trend indicator having marked considerable bullish activity rise at the break of key resistance range levels and gives grounds for the choice priority of sales direction of trading operations for today. On the assumption of it as well as the current sign of bearish corrective cycle we can assume probability of rate return to close 90,60/80 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 91,20/40, 91,80/92,00 and (or) further break-out variant up to 92,40/60, 93,00/20. The alternative for sales will be below 89,80 with the targets of 89,20/40, 88,60/80, 88,00/20.

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  EUR

The pre-planned break-out variant for sales was implemented and the achievement of minimal estimated target is supported by relative sales activity rise marked by OsMA trend indicator at the break of key supports. At the moment, considering current bearish activity cycle according to OsMA trend indicator version we can assume probability of the achievement of Ichimoku cloud borders at 1,4800/20 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 buying positions on condition of the formation of topping signals the targets will be 1,4860/80, 1,4920/40, 1,4980/1,5000 and (or) further break-out variant up to 1,5040/60, 1,5120/40, 1,5200/40. The alternative for sales will be below 1,4760 with the targets of 1,4700/20, 1,4640/60.

Category: Technical Analysis | Added by: forex-market (2009-10-16)
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