EUR/USD: (1.4244) Failed in its attempts above 1.4323 (neckline of Double Bottom: see graph)

Thu, Aug 27 2009, 06:14 GMT
by KBC Market Research Desk - KBC Bank | View company's profile

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Failed in its attempts above 1.4323 (neckline of Double Bottom: see graph).
Support area at 1.4225/ .4220 (daily Medium Term Moving Average↑/ today’s low?), with next levels at 1.4209/ .4205 (weekly envelope bottom/ current week low), ahead of 1.4197/ .4194 (break-up hourly + daily Long Term Moving Average↑), / daily envelope bottom), where pause favored.
If wrong, next levels at 1.4171 (61.8% 1.4045 to 1.4377), ahead of 1.4155/ .4127 (break-up daily Aug18/ breakup hourly): tough on 1st attempts.
Resistance at 1.4281 (broken daily Short Term Moving Average→), with next levels at 1.4299/ .4311/ (breakdown hourly/ daily envelope top), where pause favored.
If wrong, next levels at 1.4364/ .4377 (current week high/ reaction high hourly): tough on 1st attempts.

USD/JPY: (93.73) In channel off 97.79

EUR/GBP: (.8780) Above channel off .8458 and .8699

EUR/JPY: (133.45) Resistance at 134.08

Download Full Forex Technical Analysis

Published On Thu, Aug 27 2009, 06:43 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.