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EUR/USD: (1.4922) In channel off 1.3832

Fri, Nov 20 2009, 06:35 GMT
by KBC Market Research Desk

KBC Bank


Next report should be on Nov 24

Hourly
Pair currently back below the inverted daily channel top off June low (1.4996 today) with the daily Uptrendline off March low at 1.4900 today.
Support area at 1.4868 (daily Bollinger midline), with next levels at 1.4847 (reaction low hourly + daily envelope bottom), ahead of 1.4807/ .4799 (current week low/ daily Stop And Reverse), where pause favored.
If wrong, next level at 1.4767 (weekly envelope bottom + daily projection band bottom): tough on 1st tests.
Resistance at 1.4943/ .4968 (breakdown hourly/ reaction high hourly), with next levels at 1.4991/ .5000 (daily envelope top/ reaction high hourly), ahead of 1.5017 (current week high), where pause favored.
If wrong, next level at 1.5049 (Nov 11 high + weekly envelope top + daily Bollinger top), ahead of 1.5064 (recovery high off 2008 low + monthly envelope top): tough on 1st attempts.

USD/JPY: (88.91) In channel off 92.33

EUR/GBP: (.8952) .8852 (2nd target off .9078) has been met

EUR/JPY: (132.70) Currently below Uptrendline off 129.03


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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.

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