Technical analysis for February 24, 2010

The earlier opened and held short positions had a positive result in attainment of minimal anticipated target. OsMA trend indicator, having marked relative rise of bullish activity at the break of key resistance range levels, suggests preference of sales in planning trading operations for today. Hence and considering descending direction of indicator chart, we can assume probability of rate return to Senkou Span B line in Ichimoku indicator at 1,0780/1,0800 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 1,0840/60, 1,0900/20 and (or) further break-out variant up to 1,0940/60, 1,01000/20. The alternative for sales will be below 1,0740 with the targets of 1,0680/1,0700, 1,0620/40.

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 fall in activity of both parties in the bigger picture, does not clarify the choice of planning priorities for today. Therefore, considering probable rate range movement and ascending direction of indicator chart, we can assume probability of rate return to borders of Ichimoku cloud at 1,5480/1,5500 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 1,5420/40, 1,5360/80, 1,5300/20 and (or) further break-out variant up to 1,5240/60, 1,5160/80, 1,5080/1,5120. The alternative for buyers will be above 1,5600 with the targets of 1,5640/60, 1,5700/20, 1,5780/1,5800.

JPY

The pre-planned break-out variant for sales has been implemented with overlap of minimal anticipated target. OsMA trend indicator, having marked relative rise of sales activity at break of key supports, suggests preference of bearish direction in planning trading operations for today. Hence and considering ascending direction of indicator chart, we can assume probability of rate return to channel line 2 at 90,40/60 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 89,80/90,00 and (or) further break-out variant up to 89,20/40, 88,60/80. The alternative for buyers will be above 91,20 with the targets of 91,60/80, 92,10/20.

EUR

The earlier opened and held long positions had a positive result in overlap of minimal anticipated target. OsMA trend indicator, having marked break of key supports by relative rise of bearish party activity, suggests incompleteness of rate decline and, as a result, 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 borders of Ichimoku cloud at 1,3580/1,3600 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 1,3520/40, 1,3440/60 and (or) further break-out variant up to 1,3380/1,3400, 1,3320/40. The alternative for buyers will be above 1,3640 with the targets of 1,3680/1,3700, 1,3760/80.