EUR/USD: (1.4070) Tested Triangle Top (see graph)

Forex Technical Analysis

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Tested Triangle top (see graph).
Support area at 1.4036 (daily envelope bottom), with next levels at 1.4010/ .4004 (daily Short Term Moving Average↑/ daily Long Term Moving Average→), ahead of 1.3987 (break-up hourly): ideal area to stay above to keep current mood on €.
Failure to hold would see next levels at 1.3911/ .3898 (reaction low hourly/ current week low), ahead of 1.3878 (reaction low hourly), where pause favored.
If wrong, next levels at 1.3832/ .3822 (July 08 low + daily Bollinger bottom/ June 22 low + weekly envelope bottom): tough on 1st attempts.
Resistance at 1.4135/ .4144 (current week high + daily projection band top/ daily Bollinger top), with next levels at 1.4187 (daily envelope top)), where pause favored.
If wrong, next levels at 1.4202/ .4215 (July 01 high/ daily Downtrndline off Sept 2008): tough on 1st attempts.

USD/JPY: (93.86) Currently back in channel off 98.90

EUR/GBP: (.8585) Back below .8605

EUR/JPY: (132.08) Above Flag

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Published On Thu, Jul 16 2009, 05:54 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.