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EUR/USD: (1.3742) In Flag off 1.3585

KBC Market Research Desk from KBC Bank at 02/10/10


Rebound off 1.3585 puts the pair in Flag (see graph) and toying back with the broken daily channel bottom off 1.5142 (1.3750 today),: Support area at 1.3718 (broken daily Short Term Moving Average↓), with next levels at 1.3692/ .3686 (reaction low hourly/ daily envelope bottom) and 1.3643/ .3621 (reaction low/ current week low), where pause favored, amid overextended readings.
If wrong, next levels at 1.3585/ .3581 (current reaction low off 1.5145/ long term break-up on monthly charts), ahead of 1.3539 (daily Bollinger bottom) and 1.3504 (monthly envelope bottom + daily Starc bottom): tough on 1 st attempts.
Resistance at 1.3807 (reaction high hourly), with next levels at 1.3840/ .3851 (current week high + daily enve-lope top/ previous reaction low) and 1.3881 (daily Medium Term Moving Average↓), where pause favored.

USD/JPY: (89.61) Currently back above channel off 93.78

EUR/GBP: (.8770) Retested .8796 and in Flag off .8603

EUR/JPY: (123.22) New reaction low on move below 127.32

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