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Forex Technical Analysis

9

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EUR/USD: (1.4927) New year high in channel off 1.3832

Fri, Nov 27 2009, 06:18 GMT
by KBC Market Research Desk

KBC Bank


Next report should be on Dec 01

Analysis
New year high scored but currently back below the inverted daily channel top off June low (1.5030 today), with the daily Uptrendline off March low at 1.4965 under threat.
Support area at 1.4907/ .4904 (daily Long Term Moving Average↑/ today’s low?), with next levels at 1.4885/ .4870 (50% 1.4626 to 1.5145/ break-up hourly), where pause favored.
If wrong, next levels at 1.4833 (current week low), ahead of 1.4810/ .4800 (daily Stop And Reverse/ Nov 20 low + daily projection band bottom): tough on 1st tests.
Resistance at 1.5023/ .5056 (reaction high hourly/ breakdown hourly), with next levels at 1.5099/ .5115 (daily Bollinger top/ daily envelope top), ahead of 1.5145 (current new year high) and 1.5164/ .5168 (76.4% 1.6040 to 1.2331/ 1st Irregular B off 1.4626), where pause favored.
If wrong, next levels at 1.5232/ .5255 (2nd Irregular B/ daily Starc top): tough on 1st attempts.

USD/JPY: (86.10) Below channel off 92.33

EUR/GBP: (.9092) Currently above .9066

EUR/JPY: (128.50) Below 131.01


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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