• Online Forex trading Community

EUR/USD: (1.4487) Tested Flag Top

KBC Market Research Desk from KBC Bank at 01/13/10


Rebound off 1.4218 tested Flag top (see graph), but pair still below the neckline of a daily Double Top off (1.4626: 1st target at 1.4188 having been approached on drop from last year high).
Support area at 1.4453/ .4444 (reaction low hourly/ daily envelope bottom + daily Short Term Moving Average↑), with next levels at 1.4427 (break-up hourly), ahead of 1.4393 (broken weekly Short Term Moving Average↓ + daily Medium Term Moving Average↑) and 1.4371 (daily Bollinger midline): ideal area to stay above to keep current better mood on €.
Resistance at 1.4506/ .4508 (daily Bollinger top/ breakdown hourly), with next levels at 1.4552/ .4557 (daily Long Term Moving Average↓/ current week high), ahead of 1.4572 (38.2% 1.5145 to 1.4218) and 1.4590 (daily envelope top): tough on 1st attempts.

USD/JPY: (91.06) Drop from 93.78 retested 90.78

EUR/GBP: (.8954) Failed to extend above Triangle pattern

EUR/JPY: (131.94) Drop from 134.37 retesting 131.60

Main Menu