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EUR/USD: (1.5535) Back below 1.5593 (neckline Double Bottom: see graph)

Mon, Jun 2 2008, 07:26 GMT
by KBC Market Research Desk

KBC Bank


hourly chart

Back below 1.5593 (neckline of Double Bottom: see graph) and below daily Flag bottom off 1.5285 (1.5744 today): 1st Support area at 1.5460/ .5455 (last week low + daily projection band bottom/ daily envelope bottom), ahead of 1.5432 (weekly envelope bottom) and 1.5417/ .5411 (potential of daily Flag break/ 76.4% 1.5285 to 1.5819), where pause favored.
Resistance at 1.5572/ .5584 (daily Bollinger midline/ daily envelope top + daily Short Term Moving Average↓), with next levels at 1.5628/ .5630 (broken daily Medium Term Moving Average↑/ daily Long Term Moving Average↓), ahead of 1.5669 (breakdown hourly): suspect tough on 1st attempts.
If wrong, next levels at 1.5744/ .5745 (see above/ weekly envelope top): must sustain back above to call end of alert for €.

USD/JPY: (105.40) Above Triangle pattern

EUR/GBP: (.7870) Below .7922

EUR/JPY: (163.80) Currently back above 163.10


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KBC Bank  | Havenlaan 12, 1080 Brussels
http://www.kbc.be/dealingroom | piet.lammens@kbc.be

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