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EUR/USD: (1.4510) Tested Flag Top

KBC Market Research Desk from KBC Bank at 01/11/10



Rebound off 1.4218 testing daily Bollinger top (1.4526), 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).
Tested Flag top (see graph): Support area at 1.4404/ 1.4393 (daily Short Term Moving Average↑/ broken weekly Short Term Moving Average↓): ideal area to stay above to keep current better mood on €..
If unable to hold, next level at 1.4375 (daily Bollinger midline + daily Medium Term Moving Average↑), ahead of 1.4327 (daily envelope bottom): tough on 1st tests.
Resistance at 1.4526/ .4534 (daily Bollinger top/ today’s high?), ahead of 1.4542 (weekly envelope top) and 1.4572/ .4586 (38.2% 1.5145 to 1.4218/ daily Long Term Moving Average↓): tough on 1st attempts. 

USD/JPY: (92.26) Failed to regain channel off 84.82 

EUR/GBP: (.9022) Trying to extend above Triangle pattern 

EUR/JPY: (133.88) Reapproaching 134.54  

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