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Forex Technical Analysis

EUR/USD: (1.3410) Could not regain 1.3822

Mon, Jan 12 2009, 06:30 GMT
by KBC Market Research Desk

KBC Bank  |  View company's profile


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Analysis
Pair has approached 61.8% of rise from low to 1.4719 (1.3243).
Rebound could not regain 1.3822 and in Flag off 1.4719 (see graph), with daily Bollinger bottom under test (1.3382 today): Support area at 1.3374 (today’s low?) (broken with next levels at 1.3312 (reaction low off 1.4719) and 1.3294/ .3280 (1st wave up hourly off 1.2331/ daily envelope bottom + reaction low hour), ahead of 1.3500 (tough on 1st attempts.
If wrong, next levels at 1.3243 (see above), where pause favored.

Resistance at 1.3475/ .3503 (today’s high?/ broken daily Long Term Moving Average↑), with next levels at 1.3539 (daily Short Term Moving Average↓), ahead of 1.3617 (daily envelope top), where pause favored.
If wrong, next level at 1.3789 (daily Medium Term Moving Average↓): tough on 1st attempts.

USD/JPY: (90.14) Has met potential of channel break off 100.55

EUR/GBP: (.8888) Good correction off high

EUR/JPY: (120.88) Has met targets off 125.33


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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.
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