EUR/USD: (1.4049) Drop from 1.4305 retested the broken Triangle Top (see graph)

Forex Technical Analysis

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Drop from 1.4305 retested the broken Triangle top (see graph), with the broken daily Downtrendline from historic high at 1.3996 today.
Currently below 1.4118 (see graph: neckline Double Top).
Support area at 1.4007/ .3987 (current week low + daily projection band bottom/ medium teem break-up hourly), with next levels at 1.3960/ .3954 (61.8% 1.3748 to 1.4305/ daily envelope bottom), ahead of 1.3944/ .31 (potential off 1.4118), where pause favored.
Resistance at 1.4074/ .4077 (daily Bollinger midline/ breakdown hourly), with next levels at 1.4112/ .4118 (daily envelope top/ see graph), ahead of 1.4140/ .4142 (broken daily Medium Term Moving Average↑/ daily short Term Moving Average↓), where pause favored.
If wrong, next levels at 1.4195 (reaction high hourly), ahead of 1.4222 (breakdown hourly): tough on 1st attempts.

USD/JPY: (94.94) Back in channel off 98.90

EUR/GBP: (.8578) Bullish Reversal Day at new reaction low puts the pair back in the channel off .9082

EUR/JPY: (133.44) Currently below channel off 127.00

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Published On Thu, Jul 30 2009, 06:12 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.