Technical analysis for January 18, 2010

 @ibtimes
on January 17 2010 7:00 PM

CHF

The estimated test of key resistance range levels has been confirmed, but strengthening of bullish activity, marked by OsMA trend indicator, did not favor implementation of the pre-planned short positions. At this point, considering the abovementioned observation and the rate position above Ichimoku cloud as a sign favoring bullish party in planning trading operations for today, we can assume probability of rate return to the border of Senkou Span B line at 1,0240/60, 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 1,0300/20 and (or) further break-out variant up to 1,0360/80, 1,0420/40, 1,0480/1,0500. The alternative for sales will be below 1,0200 with the targets of 1,0140/60, 1,0080/1,0100.

GBP

The pre-planned break-out variant for sales has been implemented, but with loss in attainment of the assumed targets within the frames of the previous trading day. At this point, considering no clear choice of planning priorities, we can assume probability of rate range movement with attainment of close border of Ichimoku cloud at 1,6220/40, 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 1,6280/1,6300, 1,6340/60 and (or) further break-out variant up to 1,6400/20, 1,6480/1,6520, 1,6580/1,6600. The alternative for sales will be below 1,6180 with the targets of 1,6120/40, 1,6040/60.

JPY

The estimated test of key resistance range levels for implementation of sales has not been confirmed, however, fall in activity of both parties as the result of the previous trading day gives grounds for preservation of the earlier designed trading plans for today. Namely, preservation of assuming rate return to close border of Ichimoku cloud at 91,30/40, 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 90,60/80, 90,00/20 and (or) further break-out variant up to 89,40/60, 88,80/89,00. The alternative for buyers will be above 92,30 with the targets of 92,70/90, 93,40/60.

EUR

The estimated test of key resistance range levels for implementation of sales has not been confirmed, but anticipated rate decline has revealed signs of rate oversold not favoring positive implementation the break-out variant. Therefore, at this point, considering ascending direction of OsMA trend indicator, we can assume probability of rate return to the border of Senkou Span B in Ichimoku cloud at 1,4400/20, 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 1,4320/40 and (or) further break-out variant up to 1,4260/80, 1,4200/20. The alternative for buyers will be above 1,4460 with the targets of 1,4500/20, 1,4560/80.

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