Technical analysis for July 7, 2010

The pre-planned sales from key resistance range levels have been implemented with overlap of basic anticipated target. OsMA trend indicator, having marked fall in activity of both parties, suggests further rate range movement with no clear signs regarding choice of planning priorities for today. Therefore, at this point, considering ascending direction of indicator chart, we can assume probability of testing close border 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 sales, on condition of the formation of topping signals the targets will be 1,0600/20, 1,0540/60 and (or) further break-out variant up to 1,0480/1,0500, 1,0420/40.

GBP

The earlier opened and held long positions had a positive result in attainment of basic anticipated targets. OsMA trend indicator, having marked close parity of both party activity, suggests further rate range movement with no clear signs regarding planning priorities for today. Therefore, at this point, considering current bearish sign of indicator chart, we can assume probability of attaining channel line 1 and further test of close borders of Ichimoku cloud at 1,05080/1,5100 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 1,5140/60, 1,5200/40 and (or) further break-out variant up to 1,5280/1,5300, 1,5360/80, 1,5460/1,5500. The alternative for sales will be below 1,5040 with the targets of 1,4980/1,5000, 1,4920/40, 1,4860/80.

JPY

The pre-planned short positions from key resistance range levels have been implemented with attainment of minimal anticipated targets. OsMA trend indicator, having marked parity of both party activity, does not clarify the choice of planning priorities, however, giving grounds for preservation of earlier designed trading plans for today. Namely, we can assume probability of another rate return to close 87,80/88,00 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 87,20/40, 86,80/87,00 and (or) further break-out variant up to 86,20/40, 85,60/80, 85,00/20. The alternative for buyers will be above 88,40 with the targets of 88,80/89,00, 89,40/60.

EUR

The earlier opened and held long positions had a positive result in attainment of basic anticipated targets. OsMA trend indicator, having marked no evident priority of either party, considering the chosen strategy, does not clarify the choice of planning priorities for today. Nevertheless, considering trend rate direction as favoring further planning sales, we can assume probability of rate return to close 1,2560/80 supports, 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 1,2620/40, 1,2680/1,2700 and (or) further break-out variant up to 1,2740/60, 1,2800/20, 1,2880/1,2920. The alternative for sales will be below 1,2460 with the targets of 1,2400/20, 1,2340/60, 1,2280/1,2300.