EUR/USD: (1.4125) Drop from 1.4305 retested the broken Triangle Top (see graph)

Forex Technical Analysis

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Summer break: next report should be on Aug 25

Drop from 1.4305 retested the broken Triangle top (see graph) and reapproached the broken daily Downtrendline from historic high (1.3984 today).
Currently trying to settle back above 1.4118 (see graph: neckline Double Top).
Support area at 1.4088/ .4083 (break-up hourly/ daily Bollinger midline), with next levels at 1.4059/ .4039 (reaction low hourly/ daily Long Term Moving Average↑) and 1.4007/ .3984 (current week low / see above + daily projection band bottom, where pause favored.
Resistance at 1.4130/ .4154 (daily short Term Moving Average↓/ broken daily Medium Term Moving Average↑), ahead of 1.4195 (reaction high hourly), where pause favored.
If wrong, next levels at 1.4222 (breakdown hourly), ahead of 1.4250 (idem) and 1.4305/ .4306 (current week high/ daily Bollinger top): tough on 1st attempts.

USD/JPY: (95.34) Tested channel top off 98.90

EUR/GBP: (.8540) Toying back with .8537

EUR/JPY: (134.78) Currently back in channel off 127.00

Download Full Forex Technical Analysis

Published On Fri, Jul 31 2009, 06:15 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.