EUR/USD: (1.4955) New recovery high on move back above channel from 1.3832
KBC Market Research Desk from KBC Bank at 10/15/09
Rebound off 1.4480 puts the pair back above channel off 1.3832 (see graph) and back above inverted daily channel top off June low (1.4806 today), with new recovery high.
Support area at 1.4929/ .4926 (broken daily Bollinger top/ today’s low?), with next levels at 1.4880 (daily envelope bottom), ahead of 1.4845/ .4839 (daily Short Term Moving Average↑ + previous recovery high/ reaction low hourly).
1.4722/ .4712 = daily Medium Term Moving Average↑/ daily Bollinger midline: ideal area to stay above to keep current short term outlook intact for €.
Resistance at 1.4960/ .4984 (today’s high?/ 2nd Irregular B off 1.4480), ahead of 1.5008/ .5021 (monthly + daily envelope tops/ 2nd target of daily Double Bottom off 1.3739), where pause favored.
If wrong, next level at 1.5059 (daily Starc top): tough on 1st attempts.
USD/JPY: (89.39) Pair retested the broken daily Downtrendline off 97.75 (88.83 today)
EUR/GBP: (.9309) Back below redrawn Uptrendline off .8769
EUR/JPY: (133.71) Trying to extend above channel off 138.72