EUR/USD’s Oversold Condition – a Chance for Bulls

By @ibtimes on

CHF

The planned breakout variant for buyers has been realized with loss in achievement of the minimum assumed target. OsMA trend indicator, having marked a relative growth of activity of both parties, substantially lowers the perspective of expectations of immediate rate’s rise. Thus, according to the assumptions about further period of rate’s correction, we assume a possibility of return to the nearest resistance levels at 0,9560/80, 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 0,9500/20 and/or further breakout variant up to 0,9440/60, 0,9380/0,9400. Alternative for buyers will be above 0,9620 targeting 0,9660/80, 0,9720/40, 0,9780/0,9800.

GBP

The planned long positions from the key supports have been realized with achievement of the minimum assumed target. OsMA trend indicator, having marked a tendency of strengthening of bullish activity on the background of bearish activity decline, gives grounds to prefer long positions for planning trades for today. Thus, we assume a possibility of another return to Ichimoku cloud boarders at 1,6080/1,6100, 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 1,6140/60, 1,6200/20 and/or further breakout variant up to 1,6260/80, 1,6320/40. Alternative for sales will be below 1,6000 targeting 1,5940/60, 1,5880/1,5900, 1,5820/40.

JPY

The planned breakout variant for buyers has been realized and achievement of the assumed targets is supported by substantial growth of bullish activity marked by OsMA trend indicator at the break of the key resistance levels. Presently, taking into account the descending direction of the indicator chart, there’s a possibility of further correction with bounce back to the nearest supports at 82,00/10, where it is recommended to evaluate activity development on the charts with smaller time frame. For long positions, on condition of formation of topping signals, the targets will be 82,40/50 and/or further breakout variant up to 82,80/90, 83,20/30, 83,60/70. Alternative for sales will be below 81,70 targeting 81,40/50, 81,00/10.

EUR

The planned short positions from the key resistance range have been realized with achievement of the basic assumed targets. OsMA trend indicator, having marked Low of the previous week by formation of a topping bullish signal with further relative growth of buying activity, gives grounds to assume incompleteness of the period of rate’s correction and thus to prefer long positions for today. Thus, presently, we assume a possibility of return to the nearest supports at 1,3560/80, 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 1,3620/40, 1,3680/1,3700 and/or further breakout variant up to 1,3740/60, 1,3800/20, 1,3860/80. Alternative for sales renewal will be below 1,3500 targeting 1,3440/60, 1,3380/1,3400.

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