EUR/USD: (1.4675) Drop from 1.4753 retested broken inverted channel top off 1.4015 (see graph)

Thu, Nov 15 2007, 07:14 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 1.4581 (daily envelope bottom), ahead of 1.4562 (daily Medium Term Moving Average↑) and 1.4521 (current reaction low off 1.4753).
1.4476 = daily channel bottom off 1.3358: ideal area to stay above to keep current Medium Term upbias intact for €.
Resistance at 1.4702 (daily envelope top), with next levels at 1.4725/ .4728 (yesterday high/ weekly Bollinger top), ahead of 1.4753 (new high) and 1.4773/ .4787 (daily Bollinger top/ daily channel top off July 2001), where a round of profit taking is favored to set in.

USD/JPY: (111.28) New reaction low off 117.95 but back in channel from there

EUR/GBP: (.7136) New year high on break above broadening pattern off .7007

EUR/JPY: (163.30) The daily Uptrendline off 2006 low has been retested on drop from 167.65: stands today at 162.59

Download Full Forex Technical Analysis

Published On Thu, Nov 15 2007, 07:19 GMT

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KBC Bank

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.