ANALYSIS

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Note: Presented technical analysis is a general market commentary. It has informative value only and cannot be treated as a guide to action. Any copying or reproducing of analytical materials found in this section without placing a direct hyperlink to www.forexltd.co.uk, and any use of this information for commercial purposes without preliminary agreement with Forex Ltd is prohibited.

Technical analysis for September 3, 2010

  CHF

The estimated test of key resistance range levels for implementation of the pre-planned sales has not accurately been confirmed, however, the result of activity parity of both parties, suggests tiny correction to earlier designed trading plans. Namely, we can assume probability of rate return to 1,0180/1,0200 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 1,0120/40, 1,0060/80 and (or) further break-out variant up to 1,0000/20, 0,9940/60, 0,9880/0,9900. The alternative for buyers will be above 1,0260 with the targets of 1,0300/20, 1,0380/1,0420.

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  GBP

The anticipated test of key supports has been confirmed with conditions for implementation of the pre-planned buying positions. At this point, current bullish position of OsMA indicator favors holding of long positions with the earlier set targets of 1,5440/60, 1,5500/20 and (or) further break-out variant up to 1,5560/80, 1,5620/40, 1,5680/1,5700. The alternative for sales will be below 1,5300 with the targets of 1,5240/60, 1,5180/1,5200, 1,5120/40.

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  JPY

The estimated test of key resistance range levels for implementation of the pre-planned sales has not been confirmed, but fall in activity of both parties, marked by OsMA trend indicator, suggests preservation of earlier designed trading plans for today. Namely, we can assume testing of 84,60/80 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 sales, on condition of the formation of topping signals the targets will be 84,00/20, 83,60/80 and (or) further break-out variant up to 83,00/20, 82,40/60. The alternative for buyers will be above 85,20 with the targets of 85,60/80, 86,20/40.

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  EUR

The pre-planned buying positions from key supports have been implemented with overlap of minimal anticipated target. OsMA trend indicator, having marked preserved priority of bullish party activity in the bigger picture, suggests preference of bullish direction in planning trading operations for today. At this point, considering fall in activity of both parties, we can assume probability of further rate correction period with its return to close 1,2780/1,2800 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 1,2840/60 and (or) further break-out variant up to 1,2900/20, 1,2960/80, 1,3020/40. The alternative for sales will be below 1,2700 with the targets of 1,2640/60, 1,2580/1,2600.

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