•  
  • New York 02:43
  • London 06:43
  • Barcelona 07:43
  • Tokyo 15:43
  • Sydney 17:43
  • SignUp | Login

Forex Technical Analysis

EUR/USD: (1.4633) Drop from 1.4845 retested broken channel top from 1.3832

Tue, Sep 29 2009, 05:47 GMT
by KBC Market Research Desk

KBC Bank  |  View company's profile


Vote:

7

0

Analysis

Drop from 1.4845 (bearish Dark Cloud) retested the broken channel off 1.3832 and currently back in the inverted channel off June low (top at 1.4721 today), with 1.4611 being tested (see graph)
Support area at 1.4577/ .4561 (daily Bollinger midline/ reaction low hourly), with next levels at 1.4529 (daily envelope bottom), ahead of 1.4515/ .4502 (medium term reaction lows hourly).
1.4438/ .4411 = break-up hourly/ daily Uptrendline off March low: ideal area to stay above to keep current medium term mood intact on €.
Resistance at 1.4676/ .4680 (daily envelope top + broken daily Medium Term Moving Average↑/ reaction high hourly), with next levels at 1.4712/ .4721 (weekly Bollinger top/ current week high + see above), ahead of 1.4766 (breakdown hourly), where pause favored.
If wrong, next levels at 1.4803 (reaction high hourly), ahead of 1.4845/ .4867 (last week high + Equality C wave off 1.2457/ Sept 2008 spike) and 1.4899 (weekly envelope top): tough on 1st attempts amid bearish divergences.

USD/JPY: (89.90) Retested broken channel top

EUR/GBP: (.9180) New recovery high on move back above channel off .8453

EUR/JPY: (131.53) Reapproached broken channel top


Archive


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.
Vote:

7

0

Related reports

Greece the Skids by Alaron
Mon, Mar 22 2010, 05:36 GMT

Dollar Up as Stocks fall by Easy Forex
Mon, Mar 22 2010, 03:54 GMT

Market Morning Briefing by Kshitij Consultancy Services
Mon, Mar 22 2010, 03:37 GMT

The European and commodity currencies remained under pressure by CME Group
Mon, Mar 22 2010, 02:50 GMT

Japanese Yen-crosses by CMS Forex
Mon, Mar 22 2010, 02:22 GMT

eurusd, eurjpy, techbanks, eurgbp, usdjpy

[ View All ]

Related content

Euro recovering ground on weak cable
FXstreet.com | Mon, Mar 22 2010, 06:08 GMT

EUR/GBP catches updraft; next resistance .9065
Forex Live | Mon, Mar 22 2010, 04:29 GMT

Very quiet trade again in Asia
Forex Live | Mon, Mar 22 2010, 02:21 GMT

Quick look at the order books
Forex Live | Mon, Mar 22 2010, 01:25 GMT

Kospi -0.5%, Nikkei closed today
Forex Live | Mon, Mar 22 2010, 00:45 GMT

eurusd, eurjpy, techbanks, eurgbp, usdjpy

[ View All ]

Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer.

Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.

Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. FXstreet.com has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur.

Any opinions, news, research, analyses, prices or other information contained on this website, by FXstreet.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXstreet.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

©2010 "FXstreet.com. The Forex Market" All Rights Reserved.