• Online Forex trading Community

EUR/USD: (1.3958) Above channel off 1.4580

KBC Market Research Desk from KBC Bank at 02/03/10


Drop below the bearish Flag off 1.4218 sent the pair to a new reaction low and tested the daily channel bottom off 1.5142 (1.3851 today), but currently above channel from 1.4580 (see graph): Support area at 1.3924 (reaction low hourly), with next levels at 1.3886/ .3873 (reaction low hourly + daily envelope bottom/ break-up hourly) and 1.3851 (current reaction low off 1.5145 + see above), where pause favored, amid overextended readings.
If wrong, next level at 1.3771 (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 1.3976 (current week high), with next levels at 1.3988 (reaction highs hourly) and 1.3998 (daily envelop top), where pause favored.
If wrong, next levels at 1.4028/ .4053 (reaction highs hourly), ahead of 1.4071 (daily Medium Term Moving Average↓): tough on 1st attempts.

USD/JPY: (90.48) Currently toying back with 90.56

EUR/GBP: (.8724) Above channel off .9028

EUR/JPY: (126.42) Below 127.32

Main Menu