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EUR/USD: (1.4055) Below bearish Flag

KBC Market Research Desk from KBC Bank at 01/27/10


Drop from 1.4580 puts the pair below the bearish Flag off 1.4218 (see graph).
Support area at 1.4042/ .4029 (current week low/ current reaction low off 1.5145), with next levels at 1.4011/ .4007 (daily envelope bottom/ daily Bollinger bottom + Fibonacci Fan Line on weekly charts + 5th hourly off 1.4580), where pause favored.
If wrong, next level at 1.3959 (daily channel bottom off Dec high + monthly Medium Term Moving Average↑): tough on 1st tests.
Resistance at 1.4103/ .4111 (daily Short Term Moving Average↓/ breakdown hourly), with next levels at 1.4144/ .4158 daily envelope top/ breakdown hourly) and 1.4195 (current week high), where pause favored.
If wrong, next levels at 1.4220/ .4239 (reaction high hourly/ 38.2% 1.4580 to 1.4029?), ahead of 1.4252/ .4266 (breakdown daily/ hourly) and 1.4284 (daily Medium Term Moving Average↓): must sustain back above to call end on alert on €.

USD/JPY: (89.23)New reaction low off 93.78.

EUR/GBP: (.8723) Has approached 2nd target off .8852

EUR/JPY: (125.55) Currently back below 127.32

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