Technical analysis for April 21, 2010

The pre-planned buying positions from key supports have been implemented with attainment of basic anticipated targets. OsMA trend indicator, having marked close parity of both party activity, considering the chosen strategy, suggests further rate range movement with no clear signs regarding choice of planning priorities for today. Hence, we can assume probability of rate return to close border of Ichimoku cloud at 1,0640/60 levels, where it is recommended to evaluate the development of the activity of both parties in accordance with the charts of a shorter time interval. As for short-term buying positions, on condition of the formation of topping signals the targets will be 1,0700/20 and (or) further break-out variant up to 1,0760/80, 1,0820/40, 1,0880/1,0900. The alternative for sales will be below 1,0590 with the targets of 1,0530/50, 1,0480/1,0500.

GBP

The estimated test of key resistance range levels has been confirmed with conditions for implementation of the pre-planned short positions. OsMA trend indicator, having marked small degree of development of bearish activity, significantly reduces prospects of holding open short positions. Nevertheless, considering current bearish sign of indicator chart, it is recommended to hold positions with the targets of 1,5300/20 and (or) further break-out variant up to 1,5240/60, 1,5180/1,5200. The alternative for buyers will be above 1,5460 with the targets of 1,5500/20, 1,5560/80, 1,5620/40.

JPY

The estimated test of key resistance range levels has been confirmed with conditions for implementation of the pre-planned short positions. OsMA trend indicator, considering current bearish sign of indicator chart, favors holding open short positions with the targets of 92,20/40, 91,60/80 and (or) further break-out variant up to 91,00/20, 90,40/60, 89,80/90,00. The alternative for buyers will be above 93,80 with the targets of 94,40/60.

EUR

The pre-planned sales from key resistance range levels have been implemented with overlap of minimal anticipated target. OsMA trend indicator, having marked parity of both party activity, considering downward trend, suggests preference of planning sales for today. Therefore, considering signs indicating that bullish reversal is formed, we can assume probability of rate return to channel line 1 at 1,3440/60 levels, where it is recommended to evaluate the development of the activity of both parties in accordance with the charts of a shorter time interval. As for short-term sales, on condition of the formation of topping signals the targets will be 1,3380/1,3400 and (or) further break-out variant up to 1,3320/40, 1,3260/80. The alternative for buyers will be above 1,3560 with the targets of 1,3600/20, 1,3660/80.