Technical analysis for April 25, 2008

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CHF

The pre-planned breakout variant for sales has been realized with overlap of assumed targets. OsMA trend indicator having preserved the minimal advantage of bullish party continues to support the choice of buying planning priorities for today but taking into account the moment of strengthening of bearish counteraction the perspective of further considerable rise now is not decisive. In this case because of chosen strategy we assume a possibility of pair return to the nearest supports 1.0300/20, where it is recommended to evaluate the activity development according to the charts of shorter time interval. For short-term buys on condition of formation of topping signals the targets will be 1.0360/80, 1.0400/20 and/or further breakout variant up to 1.0460/80, 1.0500/20. An alternative for sales will be below 1.0270 with the targets 1.0210/30, 1.0160/80, 1.0100/20.

GBP

The pre-planned breakout variant for sales has been realized but without attainment of assumed targets within previous trading session. OsMA trend indicator having marked the short-term break of boundary support range with the features of reversal bullish signal revealed the factor of relative but not decisive strengthening of buyers' activity that gives grounds to preserve bearish planning priorities with condition of completion of rate correction period for which the key resistance range will be 1.9790/1.9820, where it is recommended to evaluate the activity development according to the charts of shorter time interval. For short-term sales on condition of formation of topping signals the targets will be 1.9700/20, 1.9640/60 and/or further breakout variant up to 1.9580/1.9600, 1.9500/20. An alternative for buyers will be above 1.9860 with the targets 1.9900/20, 1.9980/2.0000.

JPY

The pre-planned buyers' positions from the key support range have been realized with attainment of assumed targets. OsMA trend indicator having marked the strengthening of parties' activity does not give grounds to choose planning priorities for today. Keeping the chosen strategy with presumptions of possible range movement of the rate and taking into account a possibility of sharp situation change in favor of any party to minimize trading risks, we assume a possibility of pair return to supports 103.45/65, where it is recommended to evaluate the activity development according to the charts of shorter time interval. For short-term buyers' positions on condition of formation of topping signals the targets will be 103.90/104.00, 104.40/60 and/or further breakout variant up to 105.00/20, 105.60/80. An alternative for sales will be below 103.20 with the targets 102.60/80, 102.00/20, 101.40/60.

EUR

The pre-planned breakout variant for sales has been realized with overlap of assumed targets. OsMA trend indicator having preserved the bearish advantage continues to support the corresponding planning priorities for today. Nevertheless according to indicator version the relatively high level of bullish counteraction is not a positive moment for perspectives of considerable rate fall and brings in risks of sharp situation change in favor of bullish party. Hence and because of bullish character of indicator chart, we assume a possibility of rate correction to the nearest resistance range 1.5700/20, where it is recommended to evaluate the activity development according to the charts of shorter time interval. For short-term sales on condition of formation of topping signals the targets will be 1.5640/60, 1.5580/1.5600 and/or further breakout variant up to 1.5520/40, 1.5480/1.5500. An alternative for buyers will be above 1.5760 with the targets 1.5800/20, 1.5860/80, 1.5900/20.

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