Technical analysis for January 06, 2009

The pre-planned breakout variant for buyers was realized with overlap of assumed targets. OsMA trend indicator, having marked high bullish activity development at the break of key resistance range gives reasons for supporting buying planning priorities for today. Hence at the moment considering signs of rate correction incompleteness we assume the possibility of pair return to close 1.1020/40 supports, where it is recommended to evaluate the activity development of both parties according to the charts of shorter time interval. For buying positions on condition of formation of topping signals the targets will be 1.1090/1.1110, 1.1180/1.1200 and/or further breakout variant up to 1.1260/80, 1.1320/40, 1.1380/1.1400. An alternative for sells will be below 1.0940 with targets 1.0880/1.0900, 1.0820/40, 1.0760/80.

GBP

The assumed test of key resistance range was confirmed but relative bullish activity rise displayed by OsMA trend indicator was not favorable for immediate realization of the pre-planned positions for sell. Further situation development with realization of the breakout buying variant did not have positive result in attainment of assumed targets but displayed general situation of bullish advantage preservation giving reasons for supporting this direction in trading operations planning for today. At the moment and considering relative bearish activity rise and rate position within indefiniteness range of Ichimoku cloud we assume the possibility of low boundary test of the mentioned indicator at 1.4520/40, where it is recommended to evaluate the activity development of both parties according to the charts of shorter time interval. For short term buying positions on condition of formation of topping signals the targets will be 1.4580/1.4600, 1.4660/80, 1.4720/40 and/or further breakout variant up to 1.4790/1.4810, 1.4870/90, 1.4980/1.5000. An alternative for sells will be below 1.4450 with targets 1.4380/1.4400, 1.4320/40.

JPY

The pre-planned breakout variant for buyers was realized with overlap of minimal assumed target. OsMA trend indicator, having marked confirmation of bullish party advantage nevertheless displayed tendency to strengthening bearish resistance activity. Hence and considering the current cycle of bearish development and supporting buying direction of planning we assume the possibility of rate return to 92.20/40 supports, where it is recommended to evaluate the activity development of both parties according to the charts of shorter time interval. For short term buying positions on condition of formation of topping signals the targets will be 92.80/93.00, 93.40/60 and/or further breakout variant up to 94.00/20, 94.60/80, 95.40/60. An alternative for sells will be below 91.80 with targets 91.20/40, 90.60/80, 90.00/20.

EUR

The pre-planned breakout variant was realized with overlap of assumed targets. OsMA trend indicator, having marked advantage in bearish activity development at the break of key supports gives reasons for sells planning priority in trading operations for today. At the moment and considering relative strengthening of bullish resistance we assume the possibility of pair correction incompleteness and as a result rate return to 1.3600/20, where it is recommended to evaluate the activity development of both parties according to the charts of shorter time interval. For sells on condition of formation of topping signals the targets will be 1.3520/40, 1.3480/1.3500 and/or further breakout variant up to 1.3420/40, 1.3300/20, 1.3120/40. An alternative for buyers will be above 1.3770 with targets 1.3820/40, 1.3890/1.3910, and 1.3960/80.