• Online Forex trading Community

EUR/USD: (1.3928) In channel off 1.4580

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

 


Drop below the bearish Flag off 1.4218 sent the pair to a new reaction low, in channel from 1.4580 (see graph) but failed so far to extend below the daily channel bottom off 1.5142 (1.3873 today).
Support area at 1.3873 (see above + break-up hourly), with next levels at 1.3851/ .3843 (current reaction low off 1.5145/ daily envelope bottom), where pause favored, amid overextended readings.
If wrong, next level at 1.3788/ .3873 (daily Bollinger bottom/ broken daily Donwtrendline off Sept 2008), ahead of 1.3748/ .3738 (June 2009 low/ 50% 2008 low to 1.5145): tough on 1st attempts.
Resistance at 1.3939 (current week high + daily Short Term Moving Average↓), with next levels at 1.3961 (daily + weekly envelope tops), ahead of 1.3988 (reaction highs hourly), where pause favored.
If wrong, next levels at 1.4028/ .4053 (reaction highs hourly), ahead of 1.4100 (daily Medium Term Moving Average↓): tough on 1st attempts.

USD/JPY: (90.75) Currently above 90.56

EUR/GBP: (.8733) Above channel off .9028

EUR/JPY: (126.38) Below 127.32

Main Menu

  •