Forex Technical Analysis

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EUR/USD: (1.4792) In channel off 1.3832
Tue, Nov 3 2009, 06:29 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 1.4900 today), with daily Uptrendline off March low having been tested (1.4742 today).
Support area at 1.4762/ .4742 (broken daily Short Term Moving Average↓/ see above), with next levels at 1.4725 (reaction low hourly) and 1.4681 (current reaction low off 1.5064 + daily envelope bottom), where pause favored.
If wrong, next levels at 1.4641/ .4624 (daily Bollinger bottom/ weekly envelope bottom + daily projection band bottom): tough on 1st attempts.
Resistance at 1.4846 (current week high + daily envelope top), with next levels at 1.4860/ .4872 (reaction high hourly/ 50% 1.5064 to 1.4681 + daily Medium Term Moving Average↓), ahead of 1.4901 (weekly envelope top), where pause favored.
1.5064 = recovery high off 2008 low + daily Bollinger top: tough on 1st attempts.
USD/JPY: (90.26) Below Flag bottom off 88.01
EUR/GBP: (.9030) Below .9160 and .9078
EUR/JPY: (133.50) Drop from 138.49 retested broken channel top
Published on
Tue, Nov 3 2009, 06:36 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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http://www.kbc.be/dealingroom | piet.lammens@kbc.be
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