Bullish Potential of EUR/USD is Not Yet Exhausted

By @ibtimes on

CHF

The planned breakout variant for sales has been realized with overlapping of the assumed targets. OsMA trend indicator, having marked decline of both parties’ activity, doesn’t introduce any certainty in relation to choice of priorities for today according to the chosen strategy. Nevertheless, taking into account the existing tendency as a preferable direction of planning trades for today, we assume a possibility of return to the nearest resistance levels at 0,9310/20, where it is recommended to evaluate activity development on the charts with smaller time frame. For short-term sales, on condition of formation of topping signals, the targets will be 0,9270/80 and/or further breakout variant up to 0,9230/40, 0,9190/0,9200. Alternative for buyers will be above 0,9370 targeting 0,9400/10, 0,9440/50.

GBP

The assumed return of the rate to the key resistance levels has been confirmed, but the relative growth of bullish activity marked by OsMA trend indicator didn’t dispose to realization of the planned short positions. Thus, presently, with absence of certainty in relation to choice of priorities, we assume a possibility of another return to the nearest supports at 1,6180/1,6200, where it is recommended to evaluate activity development on the charts with smaller time frame. For short-term long positions, on condition of formation of topping signals, the targets will be 1,6240/60, 1,6300/20 and/or further breakout variant up to 1,6360/80, 1,6420/40. Alternative for sales will be below 1,6100 targeting 1,6040/60, 1,5980/1,6000.

JPY

The planned breakout variant for sales has been realized with overlapping of the minimum assumed target. OsMA trend indicator, having marked a parity of parties activity in the general plan, doesn’t introduce any certainty in relation to choice of priorities for today according to the chosen strategy. Thus, sticking to the existing bias as a favourable one for planning trades, we assume a return to the nearest resistance levels at 82,30/40, where it is recommended to evaluate activity development on the charts with smaller time frame. For short-term sales, on condition of formation of topping signals, the targets will be 81,90/82,00 and/or further breakout variant up to 81,50/60, 81,10/20. Alternative for buyers will be above 82,70 targeting 83,00/10, 83,40/50.

EUR

The planned breakout variant for buyers has been realized and preservation of bullish activity in the general plan gives grounds to preserve open long positions. Presently, taking into the sign of overbought condition of the pair and tenuity of bearish counteraction, we assume a possibility of return to the nearest supports at 1,3720/40, where it is recommended to evaluate activity development on the charts with smaller time frame. For short-term long positions, on condition of formation of topping signals, the targets will be 1,3780/1,3800 and/or further breakout variant up to 1,3840/60, 1,3900/20, 1,3960/80. Alternative for sales will be below 1,3640 targeting 1,3580/1,3600, 1,3520/40, 1,3460/80.

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