EUR/USD: (1.4358) Back above 1.4323 (neckline of Head & Shoulders Bottom: see graph)

Fri, Aug 28 2009, 06:54 GMT
by KBC Market Research Desk - KBC Bank | View company's profile

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Currently back above 1.4323 (neckline of Head & Shoulders Bottom: see graph).
Support area at 1.4309 (daily Short Term Moving Average↑), with next levels at 1.4280/ .4274 (break-up hourly/ (daily envelope bottom), ahead of 1.4249 (daily Medium Term Moving Average↑) and 1.4217/ .4205 (daily Long Term Moving Average↑/ current week low), where pause favored.
If wrong, next levels at 1.4183 (61.8% 1.4045 to 1.4407), ahead of 1.4155/ .4127 (break-up daily Aug18/ breakup hourly): tough on 1st attempts.
|Resistance at 1.4377 (reaction high hourly), with next levels at 1.4407/ .4412 (current week high/ daily envelope top), where pause favored.
If wrong, next levels at 1.4448/ .4458 (Aug 05 high/ daily Bollinger top) and 1.4481 (weekly envelope top): tough on 1st attempts.

USD/JPY: (93.70) In channel off 97.79

EUR/GBP: (.8819) .8860 = potential of channel break off .8458

EUR/JPY: (134.52) Approaching Downtrendline

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Published On Fri, Aug 28 2009, 07:10 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.