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TECHNICALS−Euro/dlr support at $1.2565/1.2544 –KBC

Thu, Nov 20 2008, 08:25 GMT
by Benny Menashe

Finotec Group Inc.


EUR/USD: "Drop from $1.3294 could not sustain below $1.2527 and toying with channel top off $1.4867. Support area at $1.2565/1.2544, with next levels at $1.2512/1.2503: tough on first attempts. "If wrong, next levels at $1.2448 and $1.2396/1.2388."

USD/JPY: "Pair retested daily break-up area of 94.48 yen and failed to extend below channel off 110.67. First resistance area at 97.31/97.40, with next levels at 97.55, where pause favored. "If wrong, next levels at 98.25, ahead of 98.68/98.85: tough on 1st attempts."

EUR/GBP: "Exploded to new high, with drop having met 23.6 percent retracement of the rise from 76.94 pence. First support area at 84.26, with next levels at 83.57/83.42, where pause favored."


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