Technical analysis for July 1, 2010

The pre-planned short positions from key resistance range levels have been implemented with attainment of minimal anticipated target. OsMA trend indicator, having marked fall in activity of both parties within the frames of descending trading channel case, still favors preference of planning sales, however, with a certain degree of risk of shifting priority in favor of buyers. Therefore, considering the chosen strategy, we can assume probability of rate return to close 1,0760/80 resistance 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 1,0700/20 and (or) further break-out variant up to 1,0640/60, 1,0580/1,0600. The alternative for buyers will be above 1,0860 with the targets of 1,0900/20, 1,0960/80.

GBP

The estimated test of key supports has been confirmed with conditions for implementation of the pre-planned buying positions. OsMA trend indicator, considering its current bullish direction favors holding of long positions with the targets of 1,4980/1,5000, 1,5040/60 and (or) further break-out variant up to 1,5100/20, 1,5160/80. The alternative for sales will be at break of Senkou Span B line in Ichimoku indicator below 1,4880 with the targets of 1,4820/40, 1,4740/60, 1,4680/1,4700.

JPY

The pre-planned short positions from key resistance range levels have been implemented with overlap of minimal anticipated target. OsMA trend indicator, having marked fall in activity of both parties does not clarify the choice of planning priorities for today. Therefore, as earlier, considering suppositions of further rate range movement, we can assume probability of rate return to 88,70/80 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 88,30/40, 87,90/88,00 and (or) further break-out variant up to 87,20/40, 86,40/60, 85,80/86,00. The alternative for buyers will be above 89,00 with the targets of 89,40/50, 89,80/90, 90,20/30.

EUR

The pre-planned short positions from key resistance range levels have been implemented with attainment of minimal anticipated target. OsMA trend indicator, having marked priority of bullish party activity, considering rate position below Ichimoku cloud and taking into account the chosen strategy, does not clarify the choice of planning priorities for today. Therefore, treating the currnt development as incompleteness of bearish activity period within descending trading channel, we can assume probability of retesting 1,2260/80 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 1,2200/20, 1,2120/40 and (or) further break-out variant up to 1,2080/1,2100, 1,2020/40, 1,1960/80. The alternative for buyers will be above 1,2360 with the targets of 1,2400/20, 1,2460/80.