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 March 12, 2010

  CHF

The pre-planned sales from key resistance range levels have been implemented with attainment of minimal and basic anticipated target. OsMA trend indicator, having marked fall in both party activity, does not clarify the choice of planning priorities for today. Therefore, considering signs of probable rate range movement, as earlier, we can assume probability of rate return to close 1,0700/20 resistance range 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 1,0640/60 and (or) further break-out variant up to 1,0580/1,0600, 1,0520/40. The alternative for buyers will be above 1,0800 with the targets of 1,0840/60, 1,0900/20.

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  GBP

The estimated test of key resistance range levels has been confirmed, but relative rise of bullish activity, marked by OsMA trend indicator, did not favor implementation of the pre-planned short positions. As a result, with relative strengthening of bullish activity, there are grounds for bullish direction in planning trading operations for today. Hence and considering descending direction of indicator chart, we can assume probability of rate return to close 1,5000/20 support 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 1,5060/80, 1,5100/20 and (or) further break-out variant up to 1,5160/80, 1,5240/60. The alternative for sales will be below 1,4940 with the targets of 1,4860/80, 1,4800/20.

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  JPY

The estimated test of key supports for implementation of the pre-planned buying positions has not been confirmed, fall in activity of both parties, marked as a result of the previous trading day, suggests minor correction to the earlier designed trading plans for today. Therefore, we can assume probability of rate return to close 90,20/40 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 90,80/91,00 and (or) further break-out variant up to 89,80 with the targets of 89,20/40, 88,60/80.

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  EUR

The estimated test of key supports has not accurately been confirmed, the estimated rate rise revealed signs of rate overbought not favoring prospects of further rate rise with new tops for this month. Therefore, at this point, considering the chosen strategy, we can assume probability of rate return to Senkou Span B line of Ichimoku indicator at 1,3640/60, 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 1,3700/20, 1,3740/60 and (or) further break-out variant up to 1,3800/20, 1,3860/80. The alternative for sales will be below 1,3540 with the targets of 1,3480/1,3500, 1,3420/40.

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