Forex Technical Analysis

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EUR/USD: (1.4728) Back in channel off 1.3832
Thu, Oct 29 2009, 06:23 GMT
by KBC Market Research Desk
KBC Bank

Drop from new recovery high puts the pair back in channel off 1.3832 and in the inverted daily channel off June low (top at 1.4883 today), with daily Uptrendline off March low being tested (1.4696 today).
Support area at 1.4684/ .4674 (today’s + current reaction low off 1.5064?/ reaction lows hourly + daily projection band bottom), with next levels at 1.4618/ .4608 (daily Starc bottom/ daily envelope bottom), where pause favored.
If wrong, next levels at 1.4570/ .4561(daily Bollinger bottom/ 38.2% 1.3748 to 1.5064): tough on 1st attempts.
Resistance at 1.4749/ .4762 (daily envelope top/ broken daily Long Term Moving Average→), with next levels at 1.4823/ .4828 (daily Short Term Moving Average↓/ daily Bollinger midline), ahead of 1.4883/ .4897 (see above/ daily Medium Term Moving Average↓), where pause favored: needs sustained activity above to signal return of better mood towards €.
USD/JPY: (90.41) Toying back with 90.42 and below Flag off 88.01
EUR/GBP: (.8988) Back below .9160 and .9078
EUR/JPY: (133.07) Drop from 138.49 reapproaching broken channel top
Published on
Thu, Oct 29 2009, 06:45 GMT
Archive
- EUR/USD: (1.4922) In channel off 1.3832
Published On Fri, Nov 20 2009, 06:35 GMT
- EUR/USD: (1.4914) In channel off 1.3832
Published On Thu, Nov 19 2009, 06:22 GMT
- EUR/USD: (1.4891) In channel off 1.3832
Published On Wed, Nov 18 2009, 06:35 GMT
- EUR/USD: (1.4956) In channel off 1.3832
Published On Tue, Nov 17 2009, 07:55 GMT
- EUR/USD: (1.4880) In channel off 1.3832
Published On Fri, Nov 6 2009, 06:14 GMT
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KBC Bank
| Havenlaan 12, 1080 Brussels
http://www.kbc.be/dealingroom | piet.lammens@kbc.be
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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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