Bearish Trend of EUR/USD is Under Doubt

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December 10, 2013 6:49 AM EST

CHF

Earlier opened and preserved long positions had no positive result of achievement of the assumed targets. Nevertheless, low level of bearish activity and the corresponding direction of the indicator chart, give grounds to preserve existing positions for today with earlier defined targets 0,8540/50 and/or further breakout variant up to 0,8580/90, 0,8620/30. Alternative for sales will be below 0,8440 targeting 0,8400/10, 0,8360/70.

GBP

The planned long positions from the key supports were realized with overlapping of the minimum assumed target. OsMA trend indicator, having marked preservation of minimum advantage of bullish activity, gives grounds to preserve priorities of planning long positions for today. Thus, taking into account the descending direction of the indicator chart as earlier we assume a retracement to the nearest supports 1,6080/1,6100, 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 1,6140/60, 1,6200/40 and/or further breakout variant up to 1,6280/1,6300, 1,6340/60. Alternative for sales will be below 1,6040 targeting 1,5980/1,6000, 1,5920/40.

JPY

The planned breakout variant for sales was realized with achievement of the minimum assumed target. OsMA trend indicator, having marked relative growth of bullish activity preserving preferable sales gives grounds to assume a retracement to the nearest resistance levels 80,30/40, where it is recommended to evaluate activity development on the charts with smaller time frame. For short-term sales, on condition of formation of topping signals, the targets will be 79,90/80,00, 79,50/60 and/or further breakout variant up to 79,10/20, 78,70/80, 78,30/40. Alternative for buyers will be above 81,20 targeting 81,50/60, 81,90/82,00.

EUR

The planned breakout variant for buyers was realized with achievement of the assumed targets. OsMA trend indicator, having marked relative growth of sales activity on the background of high level of bullish activity, gives grounds to assume further corrective decline with preservation of preferences of planning long positions for today. Thus, we assume a possibility of achievement of supports 1,4200/20, 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 1,4260/80, 1,4320/40 and/or further breakout variant up to 1,4380/1,4400, 1,4440/60. Alternative for sales will be below 1,4140 targeting 1,4080/1,4100, 1,4020/40.

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