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Forex Technical Analysis

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EUR/USD: (1.4945) In channel off 1.3832

Tue, Nov 24 2009, 06:13 GMT
by KBC Market Research Desk

KBC Bank


Hourly

Pair currently back below the inverted daily channel top off June low (1.5008 today) with the daily Uptrendline off March low at 1.4929 today.
Support area at 1.4926/ .4909 (daily Medium Term Moving Average↑/ break-up hourly), with next levels at 1.4877/ .4873 (daily Bollinger midline/ daily envelope bottom), where pause favored.
If wrong, next level at 1.4833 (current week low), ahead of 1.4800 (last week low + daily projection band bottom): tough on 1st tests.
Resistance at 1.5000/ .5008 (current week high/ see above + weekly envelope top + broken weekly Uptrendline off March low), with next levels at 1.5017/ .5025 (last week high/ daily envelope top), where pause favored.
If wrong, next level at 1.5049 (Nov 11 high), ahead of 1.5058/ .5064 (daily Bollinger top/ recovery high off 2008 low + monthly envelope top): tough on 1st attempts.

USD/JPY: (88.85) In channel off 92.33

EUR/GBP: (.9015) Above .8979

EUR/JPY: (132.66) Currently still below Uptrendline off 129.03


Archive

KBC Bank  | Havenlaan 12, 1080 Brussels
http://www.kbc.be/dealingroom | piet.lammens@kbc.be

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.

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