EUR/USD Bearish Trend Remains

 @ibtimes on May 16 2011 8:00 PM

CHF

The planned breakout variant for sales was realized with overlapping of the minimum assumed target. OsMA trend indicator, having marked a break of the key supports by substantial growth of bearish activity advantage of bearish activity, gives grounds to prefer sales for planning trades for today. Thus, taking into account the ascending direction of the indicator chart, we assume a possibility of retracement to the nearest resistance levels 0,8870/80, where it is recommended to evaluate activity development on the charts with smaller time frame. For sales, on condition of formation of topping signals, the targets will be 0,8830/40, 0,8790/0,8800 and/or further breakout variant up to 0,8750/60, 0,8710/20. Alternative for buyers will be above 0,8910 with targets 0,8940/50, 0,8980/90.

GBP

The assumed retracement to the key resistance levels was confirmed with conditions for realization of the planned short positions. OsMA trend indicator, having marked parity of parties’ activity, according to earlier composed trade plans doesn’t contradict with preservation of short positions targeting 0,6140/60 and/or further breakout variant up to 1,6080/1,6100, 1,6020/40, 1,5960/80. Alternative for buyers will be above 1,6260 with targets 1,6300/20, 1,6360/80, 1,6420/40.

JPY

The assumed retracement to the key resistance levels was confirmed, but growth of bullish activity, marked by OsMA trend indicator, didn’t dispose to immediate realization of the planned short positions. Thus, presently, on the background of general advantage of bullish direction, we assume a possibility of retracement to the nearest supports 81,10/20, 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 81,50/70 and/or further breakout variant up to 82,00/10, 82,40/50, 82,70/80. Alternative for sales will be below 80,60 with targets 80,20/30, 79,80/90, 79,50/60.

EUR

The planned breakout variant for buyers was realized with loss in achievement of the assumed targets. OsMA trend indicator, having marked close parity of parties’ activity, gives grounds to assume perspective of range movement without any certainty in relation to choice of priorities for today. Thus, presently, taking into account the ascending direction of the indicator chart, we assume a possibility of another retracement to Ichimoku cloud boarders at 1,4220/40, 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 1,4160/80, 1,4100/20 and/or further breakout variant up to 1,4040/60, 1,3980/1,4000. Alternative for buyers will be above 1,4360 with targets 1,4400/20, 1,4460/80.

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