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EUR/USD: (1.4880) In channel off 1.3832

Fri, Nov 6 2009, 06:14 GMT
by KBC Market Research Desk

KBC Bank


Next reoprt should be on Nov 17

Hourly

Drop from new recovery high puts the pair back in channel off 1.3832, with rebound off 1.4626 having retested the inverted daily channel top off June low (1.4928 today) and putting the pair currently back above the daily Uptrendline off March low (1.4771 today).
Support area at 1.4851/ .4844 (broken daily Medium Term Moving Average↓/ reaction low hourly), with next levels at 1.4801 (break-up hourly + daily envelope bottom), ahead of 1.4786 (daily Long Term Moving Average↑), where pause favored.
If wrong, next levels at 1.4739 (reaction low hourly), ahead of 1.4698/ .4676 (break-up hourly/ daily Bollinger bottom): tough on 1st attempts.
Resistance at 1.4918/ .4928 (current week high/ see above + reaction high hourly), with next levels at1.4960/ .4964 (76.4% 1.5064 to 1.4626/ daily envelope top + medium term breakdown hourly), where pause favored. If wrong, next levels at 1.4985 (breakdown daily), ahead of 1.5064/ .5071 (recovery high off 2008 low + daily Bollinger top/ monthly envelope top): tough on 1st attempts.

USD/JPY: (90.66) Below Flag bottom off 88.01

EUR/GBP: (.8954) Below .9160 and .9078

EUR/JPY: (134.90) Drop from 138.49 retested broken channel top


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KBC Bank  | Havenlaan 12, 1080 Brussels
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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