Technical analysis for April 6, 2010

on April 05 2010 8:00 PM

CHF

The pre-planned break-out variant for buyers has been implemented, but sign of rate overbought, marked by OsMA trend indicator at break of key resistance range levels, is not considered as a positive signal for further holding of open long positions. Therefore, at this point, considering no clear choice of planning trading operations for today, we can assume probability of rate range movement, where attainment of 1,0680/1,0700 levels should pave the way for evaluation of both party development for planning short-term sales. In case of emerging of sign confirming formation of reversal signals on charts of a shorter time interval for open sales from the indicated levels, the targets will be 1,0620/40, 1,0560/80 and (or) further break-out variant up to 1,0500/20, 1,0440/60. The alternative for buyers will be above 1,0760 with the targets of 1,0800/20, 1,0860/80.

GBP

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, does not clarify the choice of planning priorities for today. Therefore, considering suppositions of rate range movement, we can assume probability of rate return to close 1,5180/1,5200 supports, 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 1,5240/60, 1,5300/20 and (or) further break-out variant up to 1,5360/80, 1,5420/40. The alternative for sales will be below 1,5140 with the targets of 1,5080/1,5100, 1,5020/40, 1,4940/60.

JPY

The estimated test of key supports has been confirmed with conditions for implementation of the pre-planned buying positions. At this point, considering signs of formation of reversal bullish signals, there are grounds for holding of open long positions, but with risk of further rate decline to channel line 1 at 93,70/80 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 94,10/20, 94,60/70 and (or) further break-out variant up to 95,10/20, 95,60/80. The alternative for sales will be below 93,40 with the targets of 92,80/93,00, 92,20/40.

EUR

The pre-planned short positions from key resistance range levels have been implemented with attainment of basic anticipated targets. OsMA trend indicator, having marked sign of rate oversold considering priority of bearish party activity, suggests probable rate correction period, however, with preference of sales in planning trading operations for today. Hence, we can assume probability of rate return to close 1,3460/80 resistance 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 1,3400/20, 1,3360/80 and (or) further break-out variant up to 1,3300/20, 1,3260/80. The alternative for buyers will be above 1,3540 with the targets of 1,3580/1,3600, 1,3640/60.

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