Technical analysis for August 9, 2010

The pre-planned short positions from key resistance range have been implemented with attainment of basic anticipated targets. OsMA trend indicator, having marked priority of bearish activity, suggests preference of choosing sales in planning trading operations for today. Therefore, at this point, considering ascending direction of indicator chart, we can assume probability of rate return to close 1,0400/20 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 sales, on condition of the formation of topping signals the targets will be 1,0340/60, 1,0300/20 and (or) further break-out variant up to 1,0240/60, 1,0180/1,0200, 1,0120/40. The alternative for buyers will be above 1,0460 with the targets of 1,0500/20, 1,0560/80.

GBP

The pre-planned buying positions from channel line 1 have been implemented with attainment of minimal anticipated targets. OsMA trend indicator, having marked relatively high level of bullish activity as a result of the previous trading day, suggests preference of buying positions in planning trading operations for today. Hence and considering descending direction of indicator chart, we can assume probability of rate return to close 1,5920/40 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 1,5980/1,6000 and (or) further break-out variant up to 1,6040/60, 1,6100/20, 1,6180/1,6220. The alternative for sales will be below 1,5800 with the targets of 1,5740/60, 1,5680/1,5700.

JPY

The pre-planned break-out variant for sales has been implemented with overlap of minimal anticipated target. OsMA trend indicator, having marked relatively high level of bearish activity at break of key supports, considering no clear level of bullish counteraction, suggests preference of sales in planning trading operations for today. Hence and considering ascending direction of indicator chart, we can assume probability of rate return to close 85,60/70 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 85,20/30, 84,80/90 and (or) further break-out variant up to 84,20/40, 83,60/80. The alternative for buyers will be above 86,20 with the targets of 86,60/80, 87,20/40.

EUR

The pre-planned break-out variant for buyers has been implemented with attainment of minimal anticipated target. OsMA trend indicator, having marked progress of bullish activity at break of key resistance range levels, suggests preference of planning buying positions for today. Hence and considering descending direction of indicator chart, we can assume probability of rate return to close 1,3240/60 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 buying positions, on condition of the formation of topping signals the targets will be 1,3300/20, 1,3340/60 and (or) further break-out variant up to 1,3400/20, 1,3460/80, 1,3520/40. The alternative for sales will be below 1,3180 with the targets of 1,3120/40, 1,3040/60.