• Online Forex trading Community

EUR/USD: (1.3936) Below bearish Flag off 1.4218

KBC Market Research Desk from KBC Bank at 01/29/10


Drop below the bearish Flag off 1.4218 sent the pair to a new reaction low, in channel from 1.4580 (see graph) and testing daily channel bottom off 1.5142 (1.3915 today).
Support area at 1.3912 (today’s + current reaction low off 1.5145?), ahead of 1.3891/ .3888 (daily Bollinger bottom/ daily envelope bottom), where pause favored, amid overextended readings.
If wrong, next level at 1.3835 (weekly projection band bottom), ahead of 1.3808 (daily Starc bottom): tough on 1st attempts.
Resistance at 1.3987/ .3998 (reaction highs hourly/ daily envelope top), with next levels at 1.4026 (daily Short Term Moving Average↓), ahead of 1.4054 (reaction high hourly), where pause favored.
If wrong, next levels at 1.4107 (reaction high hourly), ahead of 1.4158 (breakdown hourly) and 1.4195 (current week high + daily Medium Term Moving Average↓): must sustain back above to call end on alert on €.

USD/JPY: (89.81) Retested 90.56

EUR/GBP: (.8645) In channel off .9028

EUR/JPY: (125.16) Below 127.32

Main Menu