EUR/USD: (1.4663) Drop from 1.4753 retested broken inverted channel top off 1.4015 (see graph)

Wed, Nov 14 2007, 06:25 GMT
by KBC Market Research Desk - KBC Bank | View company's profile

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Analysis Graph

Drop from 1.4753 retested the broken inverted channel top off 1.4015 (see graph).
1st Support area at 1.4632 (Short term break-up hourly), with next levels at 1.4600 (today’s low?), ahead of 1.4542 (daily Medium Term Moving Average↑) and 1.4521 (yesterday low + daily envelope bottom).
1.4459 = daily channel bottom off 1.3358: ideal area to stay above to keep current Medium Term upbias intact for €.
Resistance at 1.4687/ .98 (previous reaction highs hourly), with next levels at 1.4728 (weekly Bollinger top), ahead of 1.4753/ .4784 (new high + daily Bollinger top/ daily channel top off July 2001), where downwards reaction favored.

USD/JPY: (111.08) New reaction low off 117.95 but back in channel

EUR/GBP: (.7055) New year high on break above broadening pattern off .7007

EUR/JPY: (163.00) The daily Uptrendline off 2006 low has been retested on drop from 167.65: stands today at 162.51

Download Full Forex Technical Analysis

Published On Wed, Nov 14 2007, 06:31 GMT

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KBC Bank

http://www.kbc.be/dealingroom

piet.lammens@kbc.be

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