EUR/USD Correction Continues

By @ibtimes on

CHF

The planned breakout variant for buyers has been realized with achievement of the basic assumed targets. OsMA trend indicator, having marked close 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 bullish trend and taking into account the descending direction of the indicator chart, we assume a possibility of retracement to the nearest supports at 0,9160/80, 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 0,9220/40 and/or further breakout variant up to 0,9280/0,9300, 0,9340/60. Alternative for sales will be below 0,9100 targeting 0,9040/60, 0,8980/0,9000.

GBP

The planned short positions from the key resistance range have been realized with achievement of the basic assumed targets. OsMA trend indicator, having marked a relatively low level of parties’ activity, doesn’t introduce any certainty in relation to choice of priorities for today according to the chosen strategy. Nevertheless, sticking to the existing bearish trend as a favourable direction of planning trades for today and taking into account the ascending direction of the indicator chart, we assume a possibility of retracement to the nearest resistance levels 1,6040/60, 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 1,5980/1,6000 and/or further breakout variant up to 1,5920/40, 1,5860/80. Alternative for buyers will be above 1,6100 targeting 1,6140/60, 1,6200/20.

JPY

Rise of the rate and bullish sign of the indicator chart after certain stagnation give grounds to prefer bullish direction of planning trades. Thus, presently, being guided by signs of overbought condition of the pair according to the charts of smaller frame, we assume a possibility of retracement to the nearest supports 81,50/60, 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 81,90/82,10 and/or further breakout variant up to 82,40/50, 82,90/83,10. Alternative for sales will be below 81,30 targeting 80,90/81,00, 80,50/60.

EUR

The planned breakout variant for sales has been realized with loss in achievement of the assumed targets. OsMA trend indicator, having marked relative growth of bearish activity at the break of the key supports, gives grounds to assume incompleteness of downtrend period. Thus, presently, taking into account the ascending direction of the indicator chart, we assume a possibility of retracement to the nearest resistance levels at 1,4080/1,4100, 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 1,4020/40 and/or further breakout variant up to 1,3960/80, 1,3900/20. Alternative for buyers will be above 1,4140 targeting 1,4180/1,4200, 1,4240/60.

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