EUR/USD: (1.4859) New high on rebound off broken inverted channel top from 1.4015 (see graph)

Thu, Nov 22 2007, 06:52 GMT
by KBC Market Research Desk - KBC Bank | View company's profile

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hourly charts

Now high on rebound off broken inverted channel top from 1.4015 (see graph), with 1.4874 as daily channel top off 1.3358 and daily Bollinger top.
1st Support area at 1.4818 (daily envelope bottom), with next levels at 1.4772/ .4770 (Short Term reaction low hourly/ daily Short Term Moving Average↑).
1.4557 = daily channel bottom off 1.3358: ideal area to stay above to keep current Medium Term upbias intact for €.
Resistance at 1.4873/ .4874 (new high/ see above), with next levels at1.4900 (hourly Starc top), ahead of 1.4935/ .4944 (daily envelope top + daily Starc top + potential of long Term daily channel break off 2005 low/ weekly Strarc top), where a round of profit taking is favored to set in.

USD/JPY: (109.00) New reaction low off 117.95 below channel from there

EUR/GBP: (.7190) New year high on break above broadening pattern off .7007

EUR/JPY: (161.93) Currently back below the daily Uptrendline off 2006 low: stands today at 162.89

Download Full Forex Technical Analysis

Published On Thu, Nov 22 2007, 06:58 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.