Technical analysis for February 27, 2008

The pre-planned breakout variant for sales has been realized with attainment of assumed target. OsMA trend indicator after the completion of the period of parties' low activity having marked the considerable rise of attendant bearish activity continues to support earlier chosen planning priority for today. Hence and because of ascending direction of indicator chart, we assume a possibility of insignificant rate correction to the nearest resistance range 1.0760/80, where it is recommended to evaluate the activity development according to the charts of shorter time interval. For sales on condition of formation of topping signals the targets will be 1.0700/20 and/or further breakout variant below 1.0680 with the targets 1.0620/40, 1.0580/1.0600, 1.0520/40. An alternative for buyers will be above 1.0820 with the targets 1.0860/80, 1.0900/20.

GBP

The pre-planned breakout variant for buyers has been realized with attainment of main assumed targets. OsMA trend indicator having marked the high level of bullish activity within the existent version of ascending trading channel continues to support a preservation of existent movement tendency with a priority of buying choice for today. Hence and because of descending direction of indicator chart, we assume a possibility of pair return to the nearest supports 1.9810/30, where it is recommended to evaluate the activity development according to the charts of shorter time interval. For buys on condition of formation of topping signals the targets will be 1.9870/90, 1.9920/40 and/or further breakout variant up to 1.9980/1.2000, 2.0050/70, 1.0110/30. An alternative for sales will be below 1.9750 with the targets 1.9680/1.9700, 1.9610/30.

JPY

The pre-planned breakout variant for sales has been realized with attainment of minimal assumed target. OsMA trend indicator having generally marked the activity parity of both parties because of chosen strategy gives grounds to presume a possibility of range movement of the rate. Nevertheless taking into account the existent tendency within the version of descending trading channel besides a preservation of this tendency there is a risk of sharp situation change in favor of bullish party. Hence and to reduce trading risks we assume a possibility of pair return to resistance range 107.30/50, 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 106.90/107.00, 106.40/60 and/or further breakout variant up to 105.80/106.00, 105.10/30, 104.80/90. An alternative for buyers will be above 107.80 with the targets 108.20/40, 109.00/20, 109.60/80.

EUR

The pre-planned buyers' positions from the key support range have been realized with attainment of assumed targets. OsMA trend indicator having marked the considerable rise of buyers' activity continues to support the corresponding planning priority choice for today. Hence and because of descending direction of indicator chart, we assume a possibility of pair return to supports 1.4950/70, where it is recommended to evaluate the activity development according to the charts of shorter time interval. For buys on condition of formation of topping signals the targets will be 1.5000/10, 1.5050/60 and/or further breakout variant up to 1.5100/20, 1.5160/80. An alternative for sales will be below 1.4900 with the targets 1.4830/50, 1.4790/1.4810.