EUR/USD Overbought Condition Strengthens

By @ibtimes on

CHF

The planned long positions from the key supports have been realized with achievement of the minimum assumed targets. OsMA trend indicator, having marked further rate’s drop by a relatively high level of bearish activity within parity of activity of both parties, doesn’t introduce any certainty in relation to choice of priorities for today. Thus, presently, evaluating the existing technical picture as an incomplete fall of the rate, we assume a return to the nearest resistance levels at 0,9260/70, 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 0,9220/30, 0,9180/90 and/or further breakout variant up to 0,9140/50, 0,9100/10. Alternative for buyers will be above 0,9330 targeting 0,9360/70, 0,9400/10.

GBP

Earlier opened and preserved long positions had no positive result of achievement of the assumed targets. OsMA trend indicator, having marked the result of Friday by drop of activity of both parties, doesn’t provide any grounds to preserve open long positions targeting 1,6280/1,6300, 1,6340/60 and/or further breakout variant up to 1,6400/20, 1,6460/80, 1,6520/40. Alternative for sales will be below 1,6180 targeting 1,6120/40, 1,6060/80, 1,6000/20.

JPY

The planned breakout variant for buyers has been realized with overlapping of the minimum assumed target. OsMA trend indicator, having marked high of last week by formation of a topping bearish signal with further growth of sales activity, gives grounds to assume incompleteness of rate’s decline. Thus, presently, taking into account the ascending direction of the indicator chart, we assume a possibility of return to the nearest resistance levels at 82,40/50, 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 82,00/10 and/or further breakout variant up to 81,60/70, 81,20/30. 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 with loss in achievement of the assumed targets on Friday. OsMA trend indicator, having marked a break of the key resistance range by overbought condition of the rate, nevertheless, didn’t evince any confirming strengthening of bearish activity. Thus, presently, it is reasonable to preserve open long positions and, taking into account the descending direction of the indicator chart, we assume a return to the nearest supports at 1,3940/60, 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 1,4000/20 and/or further breakout variant up to 1,4060/80, 1,4120/40. Alternative for sales will be below 1,3860 targeting 1,3800/20, 1,3740/60.

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