Technical analysis for March 17, 2009

 @ibtimes on March 16 2009 8:00 PM

CHF

The pre-planned long positions from key supports were realized with attainment of minimal assumed target. OsMA trend indicator, having marked activity fall of both parties does not give definiteness in choosing planning priorities for today. Hence considering the chosen strategy based on assumptions about possible range rate movement as well as preservation of bearish party advantage we assume the possibility of rate return to 1.1800/20 supports, where it is recommended to evaluate activity development of both parties according to the charts of lesser time interval. For buying positions on condition of reverse signals formation the targets will be 1.1860/80, 1.1920/40, 1.1980/1.2000 and/or further breakout variant up to 1.2060/80, 1.2140/60, 1.2260/80. An alternative for sells will be below 1.1700 with targets 1.1620/40, 1.1560/80, 1.1500/20.

GBP

The pre-planned breakout variant for buyers was realized with overlap of minimal assumed targets. OsMA trend indicator, having marked advantage preservation of bullish party but with progress of sells activity strengthening gives reasons for the preservation of bullish planning direction but considering possible rate correction period with key supports at 1.4000/20, where it is recommended to evaluate activity development of both parties according to the charts of lesser time interval. For short-term buying positions on condition of reverse signals formation the targets will be 1.4060/80, 1.4140/60, 1.4220/40 and/or further breakout variant up to 1.4280/1.4300, 1.4360/80, 1.4420/60. An alternative for sells will be below 1.3960 with targets 1.3900/20, 1.3840/60, 1.3780/1.3800.

JPY

The assumed test of key supports for the realization of the pre-planned buying positions was not confirmed but low activity of both parties as the result of the previous trading day does not give definiteness in the choice of planning priorities for today. Hence and considering the current cycle of bullish development we assume the possibility of rate return to close 98.20/40 supports, where it is recommended to evaluate activity development of both parties according to the charts of lesser time interval. For short-term buying positions on condition of reverse signals formation the targets will be 98.80/99.00, 99.40/60, 100.00/20 and/or further breakout variant up to 100.60/80, 101.20/40, 101.80/102.00. An alternative for sells will be below 97.80 with targets 97.20/40, 96.60/80, 96.00/20.

EUR

The pre-planned breakout variant for long positions was realized but with failure in attainment of minimal assumed target. OsMA trend indicator, having marked high bullish activity level at the break of key resistance range and considering the chosen strategy gives reasons for preservation of bullish direction priority in trading operations planning for today. Nevertheless considering relative rise of bearish resistance we assume the possibility of rate correction with key supports at 1.2920/40, where it is recommended to evaluate activity development of both parties according to the charts of lesser time interval. For short-term buying positions on condition of reverse signals formation the targets will be 1.2980/1.3000, 1.3060/80, 1.3100/20 and/or further breakout variant up to 1.3160/80, 1.3240/60, 1.3300/20. An alternative for sells will be below 1.2880 with targets 1.2820/40, 1.2760/80, 1.2700/20.

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