Technical analysis for July 27, 2009

The estimated rate return to key supports has been confirmed, but relative bearish activity rise was not the positive moment for the implementation of pre-planned buying positions. At the moment, considering sign of bearish development incompleteness, as well as overall outlook of uncertainty of planning priorities choice we can assume probability of rate return to close reistance range levels to the channel line «2» at 1,0740/60 levels where it is recommended to evaluate the development of the activity of both parties in accordance with the charts of shorter time interval. As for short-term sales on condition of the formation of topping signals the targets will be 1,0680/1,0700, 1,0620/40 and (or) even break-out variant below 1,0580 with the targets of 1,0520/40, 1,0440/60, 1,0380/1,0400. The alternative for buyers will be above 1,0840 with the targets of 1,0880/1,0900, 1,0940/60, 1,1000/20.

GBP

The estimated rate return to close supports range has been confirmed, but the progress of bearish activity, marked by OsMA trend indicator against the background of preservation of rate overbought were not the positive moments for the implementation of preplanned buying positions. Therefore, at the moment, considering general outlook of uncertainty of planning priorities choice as well as ascending direction of indicator chart we can assume probability of rate return to close 1,6480/1,6500 resistance levels where it is recommended to evaluate the development of the activity of both parties in accordance with the charts of shorter time interval. As for short-term sales on condition of the formation of topping signals the targets will be 1,6420/40, 1,6340/60, 1,6260/80 and (or) further break-out variant up to 1,6200/20, 1,6100/40, 1,6000/40. The alternative for buyers will be above 1,6600 with the targets of 1,6640/60, 1,6700/20.

JPY

The estimated test of key supports for the implementation of pre-planned buying positions has not been confirmed but activity fall of both parties, marked by OsMA indicator gives grounds for the preservation of trading plans made earlier. Namely, as it was before, we can assume probability of rate return to close 94,20/40 supports where it is recommended to evaluate the development of the activity of both parties in accordance with the charts of shorter time interval. As for short-term buying positions on condition of the formation of topping signals the targets will be 94,80/95,00, 95,40/60 and (or) further break-out variant up to 96,00/20, 96,60/80. The alternative for sales will be below 93,80 with the targets of 93,20/40, 92,60/80, 92,00/20.

EUR

The estimated rate return to key resistance range levels has been confirmed, but relative bullish activity rise, marked by OsMA indicator and rate position above Ichimoku cloud did not incline to the implementation of pre-planned short positions. At the moment considering activity parity of both parties but favouring to bullish party, we can assume probability of rate return to channel line “1” at 1,4180/1,4200 levels where it is recommended to evaluate the development of the activity of both parties in accordance with the charts of shorter time interval. As for short-term buying positions on condition of the formation of topping signals the targets will be 1,4240/60, 1,4300/20 and (or) further break-out variant up to 1,4360/80, 1,4440/60, 1,4500/20. The alternative for sales will be below 1,4100 with the targets of 1,4040/60, 1,3980/1,4000, 1,390/20.