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Monday, January 19, 2009

EUR Technical Analysis for October 10, 2008


The presumed test of key support range was confirmed with conditions for the realization of the pre-planned buying positions. OsMA trend indicator, having marked the sign of pair oversold supports the preservation of buying positions but also considering the general minimal bearish advantage we assume the possibility of another test 1.3480/1.3500 supports, where it is recommended to evaluate the activity development of both parties according to the charts of shorter time interval. For short-term buying positions on condition of formation of topping signals the targets will be 1.3540/60, 1.3600/20, 1.3660/80 and/or further breakout variant up to 1.3720/40, 1.3780/1.3800, 1.3860/80. An alternative for sells as before will be below 1.3400 with targets 1.3340/60, 1.3260/80, 1.320/20.

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