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EUR= (1.5960) Trying to extend above channel top off Aug 2007
Wed, Apr 23 2008, 12:09 GMT
by KBC Market Research Desk
DAILY CHARTS: New historic high, with pair trying to extend
above the channel top off Aug 2007 (see graph) and the monthly channel top off
2002 (1.5966 this month), amid very wide spread between the price and the 200
Day Moving Average.
Would not chase the € higher, with
tightened stops on long exposures warranted.
Support at 1.5879 (break-up hourly),
with next levels at 1.5801/ .5790 (daily Bollinger midline/ current week low):
sustained trade below would be 1st indications of
lost short term upwards momentum.
Resistance at 1.6007 (daily Bollinger
top), with next levels at 1.6020/ .16038 (current new historic high/ 1st Irregular B off 1.5341 and weekly envelope top), ahead of 1.6120/ .6148
(2nd Irregular B/ weekly Bollinger top): suspect tough to
sustain through on 1st attempts.
Published on Wed, Apr 23 2008, 12:12 GMT
Archive
- EUR= (1.5960) Trying to extend above channel top off Aug 2007
Published On Wed, Apr 23 2008, 12:09 GMT - EURJPY= (154.35) Long Term Uptrendline under threat
Published On Tue, Mar 18 2008, 13:28 GMT - EURSKK= (32.3600) New historic low testing channel bottom off 35.4500
Published On Wed, Mar 5 2008, 14:28 GMT - EURCZK= (25.2200) Trying to extend below channel bottom off 28.7970
Published On Fri, Feb 15 2008, 15:31 GMT - EURCHF= (1.6295) Testing neckline of Double Top (1.6300: see graph)
Published On Thu, Jan 10 2008, 15:20 GMT
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