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EUR/USD: (1.4922) In channel off 1.3832

KBC Market Research Desk from KBC Bank at 11/20/09


Next report should be on Nov 24

Pair currently back below the inverted daily channel top off June low (1.4996 today) with the daily Uptrendline off March low at 1.4900 today.
Support area at 1.4868 (daily Bollinger midline), with next levels at 1.4847 (reaction low hourly + daily envelope bottom), ahead of 1.4807/ .4799 (current week low/ daily Stop And Reverse), where pause favored.
If wrong, next level at 1.4767 (weekly envelope bottom + daily projection band bottom): tough on 1st tests.
Resistance at 1.4943/ .4968 (breakdown hourly/ reaction high hourly), with next levels at 1.4991/ .5000 (daily envelope top/ reaction high hourly), ahead of 1.5017 (current week high), where pause favored.
If wrong, next level at 1.5049 (Nov 11 high + weekly envelope top + daily Bollinger top), ahead of 1.5064 (recovery high off 2008 low + monthly envelope top): tough on 1st attempts.

USD/JPY: (88.91) In channel off 92.33

EUR/GBP: (.8952) .8852 (2nd target off .9078) has been met

EUR/JPY: (132.70) Currently below Uptrendline off 129.03

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