EUR/USD: (1.3142) Rebound from 1.2885 puts pair currently back above 1.3113 (see graph)

Fri, Apr 24 2009, 05:53 GMT
by KBC Market Research Desk - KBC Bank | View company's profile

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Rebound from 1.2885 puts the pair currently back above 1.3113 (neckline Triple Top: see graph).
Support area at 1.3111 (reaction low hourly), with next levels at 1.3073/ .3061 (break-up hourly/ daily envelope bottom), ahead of 1.3026/ .3002 (daily Short Term Moving Average↑/ reaction low hourly): ideal area to stay above to keep current better tone on €.
Failure to hold would see risk towards 1.2978/ .2966 (reaction low hourly/ break-up hourly), where pause favored..
Resistance at 1.3162 (today’s + current reaction high off 1.2885?), with next levels at 1.3204/ .3211 (daily Bollinger midline/ 38.2% 1.3739 to 1.2885), ahead of 1.3224/ .3226 (broken daily Long Term Moving Average↑/ daily envelope top): tough on 1st attempts.
If wrong, 1.3391/ .3398 = daily Starc top/ daily Downtrendline off 1.3735.

USD/JPY: (97.07) Trying to extend below Flag off 101.45

EUR/GBP: (.8970) Managed to recapture channel off .9490

EUR/JPY: (127.62) Below Uptrendline off 113.09

Download Full Forex Technical Analysis

Published On Fri, Apr 24 2009, 05:59 GMT

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KBC Bank

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piet.lammens@kbc.be

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