Forex Technical Analysis

EUR/USD: (1.4800) Drop from 1.6040 has approached 2nd target of daily Double Top off 1.5285

Thu, Aug 28 2008, 06:25 GMT
by KBC Market Research Desk

KBC Bank


next report should be on sept 02

Analysis
Drop from 1.6040 has approached 2nd target of daily Double Top off 1.5285 (1.4530), with rebound testing daily Medium Term Moving Average↓ (1.4782 today): 1st Support area at 1.4726 (break-up hourly), with next levels at 1.4665/ .4648 (yesterday low/ break-up hourly), ahead of 1.4610 (daily envelope bottom): tough on 1st attempts.Resistance at 1.4807 (current week high?), with next levels at 1.4843/ .4858 (weekly envelope top/ daily projection band top): tough on 1st attempts.
Needs sustained trade above 1.4908/ .4916 (see graph/ 23.6% 1.6040 to 1.4570) to indicate improvement on €.

USD/JPY: (109.06) Has met 1st target of Double Bottom off 107.75

EUR/GBP: (.8047) New recovery high: trying to extend above channel off .7795

EUR/JPY: (161.33) Drop from 169.97 extended to 159.92 and tested daily channel bottom off 2000 low

Published on  Thu, Aug 28 2008, 06:25 GMT

Archive

KBC Bank  | Havenlaan 12, 1080 Brussels
http://www.kbc.be/dealingroom | piet.lammens@kbc.be

Legal disclaimer and risk disclosure

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.

Interested in forex trading? forex brokerage firms!


MF Global UK Limited
Contact the broker/FDM
Open a demo account		MG Financial Group
Contact the broker/FDM
Open a demo account
NordMarkets.com
Contact the broker/FDM
Open a demo account		Interactive Brokers LLC
Contact the broker/FDM
Open a demo account		Crown Forex SA
Contact the broker/FDM
Open a demo account

FXstreet.com will give you a 3 months membership as soon as minimum rebates have been generated (€150 for private trader/ €300 for corporate trader)

[Read Premium full description]


Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer.

Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management.

Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

©2008 "FXstreet.com. The Forex Market" All Rights Reserved.