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Analysts Comments

Igor Kulaga, Analytic and Risk manager at Forex Ltd

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09 May 2008 @ 05:32 am EST
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Forex Ltd - "The assumed test of the key support range has been confirmed but the relative rise of bearish activity revealed by OsMA indicator did not dispose to immediate realization of the pre-planned buyers' positions. At present taking into account the existent minimal advantage of bearish party as well as reversal bullish moment of indicator chart, we assume a possibility of pair return to resistance range 1.0500/20, where it is recommended to evaluate the activity development according to the charts of shorter time interval. For short-term sales on condition of formation of topping signals the targets will be 1.0440/60, 1.0400/20 and/or further breakout variant up to 1.0340/60, 1.0280/1.0300. An alternative for buyers will be above 1.0560 with the targets 1.0600/20, 1.0660/80."

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