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EUR/USD: (1.4848) In channel off 1.3832

KBC Market Research Desk from KBC Bank at 10/30/09


Next report should be on Nov 03

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 1.4892 today), with daily Uptrendline off March low having been tested (1.4708 today).
Support area at 1.4822/ .4813 (reaction low hourly/ broken daily Short Term Moving Average↓), with next levels at 1.4745 (break-up hourly), ahead of 1.4717/ .4708 (daily envelope bottom/ see above) and 1.4683/ .4674 (current reaction low off 1.5064?/ reaction lows hourly + daily projection band bottom), where pause favored.
 If wrong, next level at 1.4625 (daily Bollinger bottom): tough on 1st attempts.
 Resistance at 1.4873 (daily envelope top + 50% 1.5064 to 1.4683), with next levels at 1.4906/ .4918 (daily Medium Term Moving Average→/ 61.8%), ahead of 1.4928/ .4964 (reaction high hourly/ breakdown hourly), where pause favored.
 1.5064/ 1.5070 = recovery high off 2008 low/ daily Bollinger top: tough on 1st attempts.

USD/JPY: (91.02) Retested 90.42 and currently toying back with Flag bottom off 88.01

EUR/GBP: (.8967) Below .9160 and .9078

EUR/JPY: (134.98) Drop from 138.49 reapproached broken channel top 

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