EUR/USD: (1.3007) Drop from 1.3581 puts pair below 1.3113 (see graph)

Forex Technical Analysis

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Drop from 1.3581 puts the pair below 1.3113 (neckline Triple Top: see graph).
Support area at 1.2976/ .2966 (broken daily Short Term Moving Average↓/ break-up hourly), with next levels at 1.2888/ .2885 (daily Bollinger bottom + daily envelope bottom/ current week low), where pause favored.
If wrong, risk towards 1.2835 (1st target off 1.3113): tough on 1st attempts, amid oversold readings.
Resistance at 1.3036/ .3050 (yesterday high + daily envelope top/ reaction high hourly), ahead of 1.3086 (23.6% 1.3739 to 1.2885), where pause favored.
If wrong, next levels at 1.3136 = daily Medium Term Moving Average↓), ahead o 1.3205/ .3211 (broken daily Long Term Moving Average↑/ 38.2% 1.3739 to 1.2885): must sustain back above to signal turn for the better for € .

USD/JPY: (97.81) Below channel bottom off year low

EUR/GBP: (.8978) Managed to recapture channel off .9490

EUR/JPY: (127.32) Below Uptrendline off 113.09

Download Full Forex Technical Analysis

Published On Thu, Apr 23 2009, 05:51 GMT

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KBC Bank

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.