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EUR/USD: (1.5000) New year high in channel off 1.3832

KBC Market Research Desk from KBC Bank at 12/01/09


New year high scored but currently back below the inverted daily channel top off June low (1.5039 today), with the daily Uptrendline off March low at 1.4991 under threat.
Support area at 1.4965/ .4963 (current week low/ daily Medium Term Moving Average↑), with next levels at 1.4946 (daily Bollinger midline), ahead of 1.4915/ .4912 (daily envelope bottom + daily Long Term Moving Average↑/ break-up hourly), where pause favored. If wrong, next levels at 1.4895 (weekly envelope bottom), ahead of 1.4827/ 4800 (reaction low off 1.5145/ Nov 20 low + daily Bollinger bottom): tough on 1st tests.
Resistance at 1.5039/ .5041 (see above/ reaction high hourly), with next levels at 1.5074/ .5085 (daily envelope top/ current week high + broken weekly Uptrendline off March low + daily Bollinger top), ahead of 1.5099 (reaction high hourly), where pause favored.
If wrong, next levels at 1.5145 (current new year high), ahead of 1.5164/ .5168 (76.4% 1.6040 to 1.2331/ 1st Irregular B off 1.4626): tough on 1st attempts.

USD/JPY: (87.40) Back in channel off 92.33

EUR/GBP: (.9136) Above .9066

EUR/JPY: (131.07) Retesting 131.01

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