Technical analysis for February 15, 2010

The estimated test of key supports has not been confirmed, the anticipated rate rise has marked signs of rate overbought, reducing the prospect of further implementation of the break-out variant for buyers. OsMA trend indicator, having marked relative strengthening of bearish counteraction, suggests rate correction period and rate return to close 1,0740/60 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 short-term buying positions on condition of the formation of topping signals the targets will be 1,0800/20 and (or) further break-out variant up to 1,0860/80, 1,0920/40, 1,0980/1,1000. The alternative for sales will be below 1,0680 with the targets of 1,0620/40, 1,0540/60, 1,0480/1,0500.

GBP

The pre-planned short positions from key resistance range levels 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 another rate return to 1,5740/60 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 1,5680/1,5700, 1,5620/40, 1,5520/60 and (or) further break-out variant up to 1,5440/60, 1,5360/80, 1,5260/1,5300. The alternative for buyers will be above 1,5820 with the targets of 1,5860/80, 1,5960/1,6000.

JPY

The pre-planned short positions from key resistance range levels have been implemented with loss of several points in attainment of minimal anticipated target. OsMA trend indicator, having marked preserved low level of both party activity, does not clarify the choice of planning priorities for today. Hence, we can assume probability of rate return to close borders of Ichimoku cloud at 89,60/80 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 90,20/40 and (or) further break-out variant up to 90,80/91,00, 91,40/60. The alternative for sales will be below 89,20 with the targets of 88,40/60, 87,80/88,00.

EUR

The pre-planned break-out variant for sales has been implemented, but with loss of several points in attainment of minimal anticipated target. OsMA trend indicator, having marked rate oversold with further relative rise of bullish counteraction, suggests further rate correction period, however, with preserved bearish preference in planning trading operations for today. Hence, we can assume probability of rate return to 1,3660/80 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 sales on condition of the formation of topping signals the targets will be 1,3600/20, 1,3540/60, 1,3480/1,3500 and (or) further break-out variant up to 1,3420/40, 1,3360/80, 1,3300/40. The alternative for buyers will be above 1,3800 with the targets of 1,3840/60, 1,3900/20, 1,3960/80.