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
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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
Published on
Tue, Sep 29 2009, 05:51 GMT
Archive
- EUR/USD: (1.3508) Below Flag bottom off 1.3433 and 1.3639
Published On Mon, Mar 22 2010, 06:22 GMT
- EUR/USD: (1.3620) Below Flag bottom off 1.3433 and 1.3639
Published On Fri, Mar 19 2010, 06:28 GMT
- EUR/USD: (1.3688) Approaching Flag bottom off 1.3433
Published On Thu, Mar 18 2010, 06:21 GMT
- EUR/USD: (1.3783) In Flag off 1.3433
Published On Wed, Mar 17 2010, 06:27 GMT
- EUR/USD: (1.3691) In Flag off 1.3433
Published On Tue, Mar 16 2010, 06:18 GMT
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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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