Bearish EUR/USD Rally May Continue

  • Rate this Story
  • 0
  • 0

December 6, 2013 2:49 AM EST

CHF

The planned breakout variant for buyers was realized with overlapping of the minimum assumed target. OsMA trend indicator, having marked general drop of parties’ activity, doesn't introduce any certainty in relation to choice of priorities for today. Thus, presently, taking into account the descending direction of the indicator chart, we assume a retracement to the nearest supports 0,8500/10, where it is recommended to evaluate activity development on the charts with smaller time frame. For short-term long positions, on condition of formation of topping signals, the targets will be 0,8540/50 and/or further breakout variant up to 0,8580/90, 0,8620/30. Alternative for sales will be below 0,8440 with targets 0,8400/10, 0,8360/70.

GBP

The planned breakout variant for sales was realized with achievement of the basic assumed targets. OsMA trend indicator, having marked advantage of bears, gives grounds to prefer sales for planning trades for today. Thus, presently, we assume a retracement to the nearest resistance levels at 1,6200/20, where it is recommended to evaluate activity development on the charts with smaller time frame. For sales, on condition of formation of topping signals the targets will be 1,6140/60 and/or further breakout variant up to 1,6080/1,6100, 1,6020/40. Alternative for buyers will be above 1,6300 with targets 1,6340/60, 1,6400/20.

JPY

The planned breakout variant for buyers was realized with the minimum assumed target. OsMA trend indicator, having marked preservation of the bullish activity, gives grounds to preserve preferences of planning long positions for today. Thus, we assume a possibility of retracement to the nearest supports 80,60/70, where it is recommended to evaluate activity development on the charts with smaller time frame. For short-term long positions, on condition of formation of topping signals, the targets will be 81,00/10 and/or further breakout variant up to 81,40/50, 81,80/90, 82,20/30. Alternative for sales will be below 80,30 with targets 79,90/80,00, 79,50/60.

EUR

The planned breakout variant for sales was realized with overlapping of the assumed targets. OsMA trend indicator, having marked the advantage of bearish activity at the break of the key supports, gives grounds to prefer sales for planning trades for today. Thus, taking into account the ascending direction of the indicator chart, we assume a retracement to the nearest resistance levels 1,4160/80, where it is recommended to evaluate activity development on the charts with smaller time frame. For sales, on condition of formation of topping signals the targets will be 1,4100/20 and/or further breakout variant up to further 1,4040/60, 1,3960/1,4000. Alternative for buyers will be above 1,4320 with targets 1,4360/80, 1,4420/40.

  • Rate this Story
  • 0
  • 0
For more forex information, go to www.forexltd.co.uk

Join the Conversation

IBTimes TV
E-Newsletters

We value your privacy. Your email address will not be shared.