Forex Technical Analysis

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EUR/USD: (1.3706) Retesting channel top off 1.4580
Tue, Feb 9 2010, 06:27 GMT
by KBC Market Research Desk
KBC Bank

Rebound off 1.3585 retesting the channel top off 1.4580 (see graph), with pair below the daily channel bottom off 1.5142 (1.3772 today),: Support area at 1.3643 (reaction low hourly), with next levels at 1.3621 (current week low), ahead of 1.3585/ .3581 (current reaction low off 1.5145/ long term break-up on monthly charts), where pause favored, amid overextended readings.
If wrong, next level at 1.3534/ .3529 (daily Bollinger bottom + daily envelope bottom/ daily Starc bottom), ahead of 1.3504 (monthly envelope bottom): tough on 1st attempts.
Resistance at 1.3718/ .3729 (current week high/ daily Short Term Moving Average↓), with next levels at 1.3749 (weekly envelope top), ahead of 1.3749 (weekly envelope top) and 1.3772 (see above), where pause favored.
USD/JPY: (89.40) Currently back above channel off 93.78
EUR/GBP: (.8774) Retested .8796 and in Flag off .8603
EUR/JPY: (122.53) New reaction low on move below 127.32
Published on
Tue, Feb 9 2010, 06:37 GMT
Archive
- EUR/USD: (1.3706) Retesting channel top off 1.4580
Published On Tue, Feb 9 2010, 06:27 GMT
- EUR/USD: (1.3637) New reaction low in channel off 1.4580
Published On Mon, Feb 8 2010, 06:36 GMT
- EUR/USD: (1.3706) Still above channel off 1.4580
Published On Fri, Feb 5 2010, 06:30 GMT
- EUR/USD: (1.3889) Still above channel off 1.4580
Published On Thu, Feb 4 2010, 06:23 GMT
- EUR/USD: (1.3958) Above channel off 1.4580
Published On Wed, Feb 3 2010, 06:34 GMT
[ View All ]
KBC Bank
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http://www.kbc.be/dealingroom | piet.lammens@kbc.be
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This non-exhaustive information is based on short-term forecasts for expected developments on the financial markets. KBC Bank cannot guarantee that these forecasts will materialize and cannot be held liable in any way for direct or consequential loss arising from any use of this document or its content. The document is not intended as personalized investment advice and does not constitute a recommendation to buy, sell or hold investments described herein. Although information has been obtained from and is based upon sources KBC believes to be reliable, KBC does not guarantee the accuracy of this information, which may be incomplete or condensed. All opinions and estimates constitute a KBC judgment as of the data of the report and are subject to change without notice.
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