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EUR/USD: (1.2925) New recovery high on move above 1.2454 has approached last target at
1.3032.
1.1876 1.185
1.180
28 7 14 21 28 5 12 19 26
2010 Jul
New recovery high on move above 1.2454 (see graph: neckline Head&Shoulders bottom) has approached last
target of pattern (1.3032).
Trying to extend back above channel off 1.1876 (see graph).
Support area at 1.2877/ .2872 (reaction low hourly/ broken daily Short Term Moving Average→), with next levels
at 1.2847 (weekly Bollinger midline), ahead of 1.2811 (daily Medium Term Moving Average↑) and 1.2803/ .2797
(daily/ weekly envelope bottoms), where pause favored.
If wrong, next levels at 1.2732/ .2722 (current reaction low off 1.3029/ break-up weekly): tough on 1st attempts..
Resistance at 1.2966/ .2976 (reaction high hourly/ daily envelope top), where pause favored.
If wrong, next levels at 1.3029/ .3032 (current recovery high off year low + modified weekly Standard Error band
top/ see above), ahead of 1.3053 (modified daily Alpha Beta trend top) and 1.3095/ .3124 (May 10 high/ daily
Bollinger top + 38.2% 2009 high to 1.1873): tough on 1st tests, amid overextended readings.
SUPPORT RESISTANCE
1.2877/.2872 (see above) 1.2966/ .2976 (see above/ daily envelope top)
1.2811 (daily MT MA↑) 1.3029/ .3032 (see above)
1.2803/ .2797 (daily/ weekly envelope bottoms) 1.3053/ .3095 (see above/ May 10 high)
KBC Bank N.V. - Treasury and Capital Markets Front Office, Market Research
Monday, July 26, 2010
USD/JPY: (87.63) New year low but currently back in channel off 94.99 (see graph)
FOREX JPY=EBS,39 (87.62, 87.64, 87.59, 87.62, -0.01)
92.89
93.0
92.5
92.0
91.5
91.0
90.5
90.0
89.5
89.15
89.0
88.5
88.0
88.11
87.58
87.5
87.0
86.96
86.5
86.27
86.0
28 7 14 21 28 5 12 19 26
2010 Jul
New year low scored on move below daily Uptrendline off 2009 low (90.55 today) but currently back in channel
off 94.99 (see graph).
Resistance at 87.76/ 87.80 (daily Bollinger midline + daily Medium Term Moving Average↓/ daily envelope top),
with next levels at 88.06/ .08 (breakdown daily/ hourly), where pause favored.
If wrong, next levels at 88.29/ .37 (reaction high hourly + modified daily Standard Error band top/ weekly enve-
lope top), ahead of 88.91 (daily Downtrendline off 94.99): tough on 1st attempts.
1st support area at 87.30/ 87.20 (daily Short Term Moving Average↑/ reaction low hourly), with next levels at
87.00 (daily envelope bottom), ahead of 86.73/ 86.59 (reaction lows hourly), where pause favored.
If wrong, next levels at 86.48 (daily Bollinger bottom), ahead of 86.34/ 86.27 (last week low/ current new year
low): tough on 1st attempts.
SUPPORT RESISTANCE
87.76/ 87.80 (daily MT MA↓ + see above/ daily enve-
87.30/ .20 (see above)
lope top)
87.00 (daily envelope bottom) 88.06/ .08 (breakdown daily/ hourly)
86.73/ .48 (see above/ daily Bollinger bottom) 88.29/ .37 (see above/ weekly envelope top)
KBC Bank N.V. - Treasury and Capital Markets Front Office, Market Research 2
Monday, July 26, 2010
EUR/GBP: (.8370) Rebound off new year low tested channel top off .8810 (see graph)
FOREX EURGBP=,22 (0.8362, 0.8371, 0.8359, 0.8371, +0.0007)
.8532
0.850
0.845
.8382 0.840
.8376
0.835
.8317 0.830
0.825
.8210 0.820
.8180
0.815
0.810
.8067 0.805
31 7 14 21 28 5 12 19 26
2010 J
Rebound off new year low broke daily channel off .9130 (broken top at .8297 today).
1st Support area at .8350/ .8345 (reaction low hourly/ daily Bollinger midline), with next levels at .8318/ .8317
(last week low/ July 13 low), where pause favored.
If wrong, next levels at .8306 (daily envelope bottom), ahead of .8301/ .8297 (weekly envelope bottom/ see
above): tough on 1st attempts.
1st Resistance area at .8381 (reaction high hourly), with next levels at .8404/ .8412 (daily Short Term Moving
Average↓/ daily envelope top + weekly Medium Term Moving Average↓), where pause favored.
If wrong, next levels at .8444 (reaction high hourly), ahead of .8466 (idem) and .8492/ .8495 (weekly envelope
top/ modified daily Alpha Beta trend top): tough on 1st attempts.
SUPPORT RESISTANCE
.8350/ .45 (see above/ daily Bollinger midline) .8381 (see above)
.8306/ .8301(daily/ weekly envelope bottoms) .8444/ .8466 (reaction highs hourly)
KBC Bank N.V. - Treasury and Capital Markets Front Office, Market Research 3
Monday, July 26, 2010
114.0
113.43
113.5
113.0
112.5
112.0
111.5
110.90 111.0
110.5
110.0
109.5
109.0
108.5
108.0
108.06 107.5
107.30 107.0
27 31 7 14 21 28 5 12 19 26
2010 June July
Rebound off new year low retesting 113.43: Resistance at 113.43/ .47 (June 21 high + neckline daily Double
bottom/ today’s high?), with next levels at 113.68/ .73 (23.6% year high to 107.30/ daily envelope top), where
pause favored.
If wrong, next levels at 114.07/ .16 (modified daily Alpha Beta trend top/ June 03 high), ahead of 114.40/ .47
(may 21 high/ daily Bollinger top): tough on 1st attempts
1st Support area at 112.47/ .40 (break-up hourly/ daily Short Term Moving Average↑), where pause favored.
If wrong, next levels at 111.99 (weekly Short Term Moving Average↑), ahead of 111.76 (daily envelope bottom) and
111.53/ .33 (modified daily Alpha Beta trend bottom/ daily Long Term Moving Average↑): tough on 1st tests.
SUPPORT RESISTANCE
112.47/ .40 (break-up hourly/ see above) 113.43/ .47 (see above)
111.99 (weekly ST MA↑) 113.68/ .73 (see above/ daily envelope top)
111.76/ .33 (daily envelope bottom/ daily LT MA↑) 114.16/ .47 (see above/ daily Bollinger top)
KBC Bank N.V. - Treasury and Capital Markets Front Office, Market Research 4
Monday, July 26, 2010
KBC Bank N.V. - Treasury and Capital Markets Front Office, Market Research 5