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EUR/USD: (1.4728) Back in channel off 1.3832

KBC Market Research Desk from KBC Bank at 10/29/09


Drop from new recovery high puts the pair back in channel off 1.3832 and in the inverted daily channel off June low (top at 1.4883 today), with daily Uptrendline off March low being tested (1.4696 today).
Support area at 1.4684/ .4674 (today’s + current reaction low off 1.5064?/ reaction lows hourly + daily projection band bottom), with next levels at 1.4618/ .4608 (daily Starc bottom/ daily envelope bottom), where pause favored.
If wrong, next levels at 1.4570/ .4561(daily Bollinger bottom/ 38.2% 1.3748 to 1.5064): tough on 1st attempts.
Resistance at 1.4749/ .4762 (daily envelope top/ broken daily Long Term Moving Average→), with next levels at 1.4823/ .4828 (daily Short Term Moving Average↓/ daily Bollinger midline), ahead of 1.4883/ .4897 (see above/ daily Medium Term Moving Average↓), where pause favored: needs sustained activity above to signal return of better mood towards €.

USD/JPY: (90.41) Toying back with 90.42 and below Flag off 88.01

EUR/GBP: (.8988) Back below .9160 and .9078

EUR/JPY: (133.07) Drop from 138.49 reapproaching broken channel top

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