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EUR/USD: (1.3517) Below Triangle off 1.4719

Tue, Jan 6 2009, 06:31 GMT
by KBC Market Research Desk

KBC Bank


next report should be on jan 08

Hourly Charts
Pair has retraced 50% of rise from low to 1.4719 (1.3525).
Below Triangle off 1.4719 (see graph): Support area at 1.3505 (today’s low?), with next levels at 1.3468 (daily envelope bottom) and 1.3410 (daily Long Term Moving Average↑): tough on 1st attempts.

Resistance at 1.3656 (today’s high?), with next levels at 1.3727 (daily envelope top) and 1.3793 (daily Short Term Moving Average↓), where pause favored.
If wrong , next levels at 1.3837/ .3854 (breakdown daily/ daily Bollinger midline), ahead of 1.3916 (daily Medium Term Moving Average↓): tough on 1st attempts.

USD/JPY: (93.10) Above channel off 100.55

EUR/GBP: (.9260) Good correction off high

EUR/JPY: (125.86) Approaching 125.33


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http://www.kbc.be/dealingroom | piet.lammens@kbc.be

Legal disclaimer and risk disclosure

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.

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