EUR/USD Correction Continues

By @ibtimes on

CHF

The planned breakout variant for buyers has been realized with achievement of the minimum assumed target. OsMA trend indicator, having marked preservation of bulls in general plan, gives grounds to prefer planning long positions for today. Thus, taking into consideration bearish direction of the indicator chart, we assume a possibility of return to the nearest supports at 0,9700/20, 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 0.9760/80 and/or further breakout variant up to 0.9820/40, 0.9880/0.9900, 0.9940/60. Alternative for sales will be below 0.9600 targeting 0.9540/60, 0.9480/0.9500, 0.9420/40.

GBP

The assumed return of the rate to the key supports has not been confirmed in detail, but the expected growth revealed its overbought condition, which didn’t favour its further growth. Thus, presently, taking into account close parity of the parties’ activity as a sign of range movement of the rate, we assume a possibility of a test of highs at 1.5660/80, 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 1.5600/20, 1.5540/60 and/or further breakout variant up to 1.5480/1.5500, 1.5420/40. Alternative for buyers will be above 1.5720 targeting 1.5760/80, 1.5820/40, 1.5880/1.5900.

JPY

The assumed return of the rate to the key resistance levels has been confirmed with conditions for realization of the planned long positions. OsMA trend indicator, on the background of the current descending direction, «supports» preservation of open positions according to the trading plan setup earlier targeting 82.80/90 and/or further breakout variant up to 82.40/50, 82.00/10. Alternative for buyers will be above 83.70 targeting 84.00/10, 84.40/50.

EUR

The planned long positions from the key supports have been realized with overlapping of the minimum and basic assumed target. OsMA trend indicator, having marked activity decline of both parties, doesn’t introduce any certainty in relation to choice of priorities of planning for today according to the chosen strategy. Thus, supposing further rate’s correction period, we assume a possibility of its return to the nearest supports at 1.2940/60, 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 1.3000/20 and/or further breakout variant up to 1.3060/80, 1.3120/40. Alternative for sales will be below 1.2860 targeting 1.2800/20, 1.2740/60, 1.2680/1.2700.

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