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Technical analysis: EUR/USD, USD/CHF, GBP/USD, USD/JPY (21.10.2008)


CHF

The pre-planned breakout variant for buyers was realized with attainment of basic assumed targets. OsMA trend indicator, having marked attainment of channel signal “2” by buying activity essential rise gives reasons for planning priority in buying direction but after rate correction period with key supports at 1.1460/80, where it is recommended to evaluate the activity development of both parties according to the charts of shorter time interval. For buying positions on condition of formation of topping signals the targets will be 1.1520/40 and/or further breakout variant up to 1.1580/1.1600, 1.1620/40. An alternative for sells will be below 1.1380 with targets 1.1320/40, 1.1260/80, 1.1200/20.



GBP

The assumed key supports test was confirmed but displayed by OsMA indicator essential bearish activity rise at the break of Ichimoku cloud bottom was not favorable for immediate realization of the pre-planned buying positions. Hence considering the chosen strategy based in the current situation on bearish planning priority we assume the possibility of further Ichimoku cloud bottom test at 1.7200/20, where it is recommended to evaluate the activity development of both parties according to the charts of shorter time interval. For sells on condition of formation of topping signals the targets will be 1.7120/40, 1.7060/80 and/or further breakout variant up to 1.7000/20, 1.6920/40, 1.6860/80, 1.6800/20. An alternative for buyers will be above 1.7340 with targets 1.7380/1.7400, 1.7460/80, 1.7540/60, 1.7600/20.



JPY

The presumed test of channel signal “2” was not confirmed but further situation development together with the pre-planned and not realized sells did not display confidence of bearish development reaction to the signs of pair overbought while testing mentioned signals. Hence considering the general situation of low activity preservation of both parties the earlier drawn up trading plans remain practically unchanged. We assume the possibility of channel “2” attainment at 102.40/50, where it is recommended to evaluate the activity development of both parties according to the charts of shorter time interval. For short-term sells on condition of formation of topping signals the targets will be 102.00/10, 101.40/60, 100.80/101.00 and/or further breakout variant below 100.40 with targets 99.80/100.00, 99.20/40. An alternative for buyers will be above 103.20 with targets 103.60/80, 104.40/60, 105.20/40.



EUR

The pre-planned positions for sell were realized with attainment of basic assumed targets. OsMA trend indicator, having marked the essential bearish activity rise gives reasons for the corresponding to sells planning priorities choice for today as well. Hence and considering the ascending direction of indicator chart we assume the possibility of pair return to 1.3380/1.3400 resistance range, where it is recommended to evaluate the activity development of both parties according to the charts of shorter time interval. For sells on condition of formation of topping signals the targets will be 1.3320/40, 1.3260/80 and/or further breakout variant below 1.3240 with targets 1.3180/1.3200, 1.3120/40, 1.3060/80. An alternative for buyers will be above 1.3520 with targets 1.3560/80, 1.3620/40, 1.3680/1.3700, 1.3760/80.