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EUR/USD: (1.4015) Below bearish Flag off 1.4218

KBC Market Research Desk from KBC Bank at 01/28/10


Drop below the bearish Flag off 1.4218 sent the pair to a new reaction low, in channel from 1.4580 (see graph) and tested daily Bollinger bottom + daily envelope bottom (1.3957).
Support area at 1.3938/ .3930 (daily channel bottom off Dec high/ today’s + current reaction low off 1.5145?), where pause favored.
If wrong, next level at 1.3842/ .3828 (weekly projection band bottom/ daily Starc bottom): tough on 1st tests.
Resistance at 1.4054 (reaction high hourly), with next levels at 1.4069/ .4077 (daily envelope top/ daily Short Term Moving Average↓), ahead of 1.4107 (reaction high hourly) and 1.4158 (breakdown hourly), where pause favored.
If wrong, next levels at 1.4195 (current week high), ahead of 1.4242 (daily Medium Term Moving Average↓): must sustain back above to call end on alert on €.

USD/JPY: (90.26) Reapproaching 90.56

EUR/GBP: (.8662) Has met 2nd target off .8852

EUR/JPY: (126.47) Currently back below 127.32

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