Forex Technical Analysis
EUR/USD: (1.4709) Back above channel 1.3832
Wed, Oct 7 2009, 06:07 GMT
by KBC Market Research Desk
KBC Bank | View company's profile
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Rebound off 1.4480 puts the pair back above channel off 1.3832 (see graph) and retested reinstalled inverted daily channel top off June low (1.4770 today).
Support area at 1.4669/ .4655 (break-up hourly/ daily Bollinger midline + daily envelope bottom), with next levels at 1.4633 (daily Short Term Moving Average↑), ahead of 1.4593/ .4582 (reaction low hourly/ current week low), where pause favored.
1.4519 = daily Bollinger bottom + daily Long Term Moving Average↑: tough on 1st attempts.
Resistance at 1.4766/ .4777 (breakdown hourly + weekly envelope top/ broken weekly channel bottom off 2002 low), ahead of 1.4784/ .4788 (daily envelope top/ daily Bollinger top), where pause favored.
If wrong, next levels at 1.4821/ .4845 (broken monthly channel bottom off 2002 low/ last week high + Equality C wave off 1.2457), ahead of 1.4867 (Sept 2008 spike): tough on 1st attempts amid bearish divergences.
USD/JPY: (88.77) 1st Resistance area at 89.27/ 89.32
EUR/GBP: (.9248) Below Uptrendline off .8769
EUR/JPY: (130.47) In Falling Wedge pattern
Published on
Wed, Oct 7 2009, 06:14 GMT
Archive
- 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
- EUR/USD: (1.3740) Above 1.3693
Published On Mon, Mar 15 2010, 06:25 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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