Technical analysis for March 3, 2010

The estimated test of key supports has been confirmed with conditions for implementation of the pre-planned buying positions. OsMA trend indicator, having marked preserved priority of bullish party, considering the chosen strategy, suggests preference of earlier opened long positions with the targets of 1,0780/1,0800, 1,0840/60, 1,0900/20 and (or) further break-out variant up to 1,0960/80, 1,1020/40. The alternative for sales will be below 1,0680 with the targets of 1,0620/40, 1,0580/1,0600.

GBP

The estimated rate return to the key resistance range levels has been confirmed, strengthening of bullish activity, marked by OsMA trend indicator, has not been a positive sign for implementation of the pre-planned short positions. Hence, we can assume probability of rate correction period with attainment of Ichimoku cloud border at 1,5100/20, 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 1,5000/40, 1,4940/60 and (or) further break-out variant up to 1,4860/80, 1,4780/1,4800. The alternative for buyers will be above 1,5210 with the targets of 1,5260/80, 1,5320/40, 1,5380/1,5400.

JPY

The pre-planned break-out variant for has been implemented, but with loss of several points in attainment of minimal anticipated target. OsMA trend indicator, having marked strengthening of sales, suggests preference of bearish direction in planning trading operations for today. Hence and considering ascending direction of indicator chart, we can assume probability of rate return to the border of Ichimoku cloud at 89,10/20 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 88,40/60 and (or) further break-out variant up to 87,80/88,00, 87,20/40. The alternative for buyers will be above 89,60 with the targets of 90,00/20, 90,40/60.

EUR

The estimated test of key resistance range levels has been confirmed with conditions for implementation of the pre-planned short positions. OsMA trend indicator, having marked generally preserved priority of bearish party combined with formation of bearish reversal signal, suggests holding of open short positions with the targets of 1,3580/1,3600,0, 1,3520/40, 1,3440/60 and (or) further break-out variant up to 1,3380/1,3400, 1,3320/40. The alternative for buyers will be above 1,3700 with the targets of 1,3760/80, 1,3820/40.