Technical analysis for February 9, 2010

The estimated test of key supports has been confirmed, however, relative rise of sales activity, marked by OsMA trend indicator, did not favor implementation of the pre-planned buying positions. Therefore, considering the developing technical picture from the position of incompleteness and probable rate range movement, we can assume reaching of close borders of Ichimoku cloud at 1,0660/80 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 1,0720/40, 1,0780/1,0800 and (or) further break-out variant up to 1,0840/60, 1,0920/40, 1,0980/1,1000. The alternative for sales will be below 1,0600 with the targets of 1,0540/60, 1,0480/1,0500.

GBP

The pre-planned- short positions have been implemented with attainment of minimal anticipated target. OsMA trend indicator, having marked rising bullish activity, suggests correction period incompleteness, but with preference of sales planning. Hence, we can assume probability of reaching 1,5680/1,5700 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 1,5620/40, 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 estimated test of key resistance range levels has not been confirmed, but fall in both party activity, marked by OsMA trend indicator, suggests preservation of earlier designed trading plans practically unchanged. Namely, we can assume probability of test of 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 sales, on condition of the formation of topping signals the targets will be 89,00/20, 88,40/60 and (or) further break-out variant up to 87,80/88,00, 87,20/40. The alternative for buyers will be above 90,20 with the targets of 90,60/80, 91,20/40.

EUR

The estimated test of key resistance range levels has been confirmed, however, relative rise of bullish activity, marked by OsMA trend indicator, did not favor implementation of the pre-planned short positions. OsMA trend indicator, having marked close parity of both party activity, does not clarify the choice of planning priorities for today. Therefore, considering the chosen strategy based on supposition of probable rate range movement and short-term bullish activity incompleteness, we can assume probability of reaching borders of Ichimoku cloud at 1,3760/80 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 1,3700/20, 1,3640/60 1,3560/80 and (or) further break-out variant up to 1,3500/20, 1,3440/60, 1,3380/1,3400. The alternative for buyers will be above 1,3860 with the targets of 1,3900/20, 1,3960/80, 1,4020/40.