EUR/USD: (1.4921) New high on rebound off broken inverted channel top from 1.4015 (see graph)

Fri, Nov 23 2007, 06:32 GMT
by KBC Market Research Desk - KBC Bank | View company's profile

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next report should be on nov 27

hourly charts

New high on rebound off broken inverted channel top from 1.4015 (see graph), with 1.4961 as redrawn daily channel top off 1.3358, amid overextended readings and thin trading.
1st Support area at 1.4904 (break-up hourly), with next levels at 1.4873 (break-up daily), ahead of 1.4822 (daily envelope bottom + daily Short Term Moving Average↑): key for ST bullish mood on €.
1.4576 = daily channel bottom off 1.3358: ideal area to stay above to keep current Medium Term upbias intact for €.
Resistance at 1.4961/ .4966 (see above/ new high + daily projection band top), with next levels at1.4985 (daily Starc top), ahead of 1.5000 (psycho), where a round of profit taking is favored to set in.

USD/JPY: (107.86) New reaction low off 117.95 below channel from there

EUR/GBP: (.7210) New year high on break above broadening pattern off .7007

EUR/JPY: (160.97) Currently back below the daily Uptrendline off 2006 low: stands today at 162.95

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Published On Fri, Nov 23 2007, 06:39 GMT

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KBC Bank

http://www.kbc.be/dealingroom

piet.lammens@kbc.be

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