The Expected Test of Monthly Support in EUR/USD

By @ibtimes on

CHF

The planned breakout variant for buyers has been realized with overlapping of the assumed target. OsMA trend indicator, having marked overbought condition of the rate, lowers the perspective of expectations in relation to further rate’s growth. Nevertheless, on the background of preferable bullish direction for planning trades for today, we assume a possibility of return to supports at 0,9660/70, 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 0,9700/10 and/or further breakout variant up to 0,9740/50, 0,9770/80. Alternative for sales will be below 0,9620 targeting 0,9580/90, 0,9540/50, 0,9510/20.

GBP

Earlier opened and preserved short positions had positive result of overlapping of the minimum assumed target. OsMA trend indicator, having marked the result of previous day by close parity of parties activity, gives grounds to assume further period of range movement without any certainty in relation to choice of priorities for today. Thus, taking into account incomplete bearish cycle, we assume a possibility of another test of the nearest supports at 1,6000/20, 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 1,6060/80, 1,6120/40, 1,6180/1,6200 and/or further breakout variant up to 1,6240/60, 1,6300/20. Alternative for sales will be below 1,5960 targeting 1,5900/20, 1,5840/60, 1,5760/1,5800.

JPY

Earlier opened and preserved long positions had positive result in achievement of the basic assumed targets. OsMA trend indicator, having marked a tendency of strengthening of bullish activity, gives grounds to support priorities of bullish direction for planning trades for today. Thus, presently, taking into account the descending direction of the indicator chart, we assume a possibility of return to the nearest supports at 83,10/20, 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 83,50/70 and/or further breakout variant up to 84,00/10, 84,40/50. Alternative for sales will be below 82,70 targeting 82,30/40, 81,90/83,00.

EUR

The planned breakout variant for sales has been realized and the relative growth of bearish activity, marked by OsMA trend indicator, supports preservation of open short positions for achievement of the target level. Nevertheless, presently, taking into account the oversold condition of the pair, there’s a possibility of return to Ichimoku cloud boarders at 1,3600/20, 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 1,3500/40 and/or further breakout variant up to 1,3440/60, 1,3360/1,3400. Alternative for buyers will be above 1,3700 targeting 1,3740/60, 1,3800/20, 1,3860/80.

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