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EUR/USD: (1.4888) New recovery high on move back above channel from 1.3832

KBC Market Research Desk from KBC Bank at 10/14/09


Rebound off 1.4480 puts the pair back above channel off 1.3832 (see graph: potential at 1.4911) and back above inverted daily channel top off June low (1.4802 today), with new recovery high. 
Support area at 1.4839 (reaction low hourly), with next levels at 1.4802/ .4797 (daily Short Term Moving Average↑ + see above/ daily envelope bottom), ahead of 1.4740 (break-up hourly).
1.4699/ .4693 = daily Bollinger midline/ daily Medium Term Moving Average↑: ideal area to stay above to keep current short term outlook intact for €. 
Resistance at 1.4911/ .4918 (see above/ daily envelope top), with next levels at 1.4931 (1st Irregular B off 1.4480), where pause favored. 
If wrong, next levels at 1.4984 (2nd Irregular B), ahead of 1.5008/ .5021 (monthly envelope top/ 2nd target of daily Double Bottom off 1.3739): tough on 1st attempts amid bearish divergences.

USD/JPY: (89.00) Back below 89.40

EUR/GBP: (.9327) Toying back with redrawn Uptrendline off .8769

EUR/JPY: (132.44) Reapproached channel top off 138.72 

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