Technical Analysis Reports Technical Analysis Forex
| Tuesday, 26 August 2008 09:37 | ||
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| Technical Analysis ForexEUR/USD (1.4720)Drop from 1.6040 highlights daily Double Top off 1.5285 (see graph: 2nd target at 1.4530): 1st Support area at 1.4648 (break-up hourly), with next levels at 1.4570/ .4563 (yesterday low/ daily envelope bottom), ahead of 1.4530 (see above): tough on 1st attempts. Resistance at 1.4760/ .4763 (reaction high hourly/ daily Short Term Moving Average↓), with next levels at 1.4791/ .4807 (daily Medium Term Moving Average↓/ current week high) and 1.4843 (weekly envelope top): tough on 1st attempts. Needs sustained trade above 1.4908 (see graph) to indicate improvement on €.
SUPPORT
RESISTANCE
USD/JPY (108.97) Has met 1st target of Double Bottom off 107.75 (see graph: 110.51)Strong rebound off 103.77 has met 1st target o Double Bottom off 107.75 (see graph: 110.051). 1st Resistance area at 109.71 (today's high?), with next levels at 110.28 (current week high + daily envelope top), ahead of 110.67/ .90 (reaction high off 95.77/ daily Bollinger top), where pause favored. If wrong, next levels at 111.40 (weekly envelope top), ahead of 111.53/ .73 (daily Starc top/ 2nd target off 107.75): suspect tough to sustain through on 1st attempts. 1st support area at 108.91 (today's low?), with next levels at 108.35/ .29 (see graph/ daily Long Term Moving Average↑), ahead of 108.12/ 107.98 (Aug 21 low/ daily projection band bottom): tough on 1st attempts. If wrong, next levels at 107.27/ .15 (reaction low hourly/ 23.6% 95.77 to 110.67), where pause favored.
SUPPORT
RESISTANCE
EUR/GBP (.7970) Back in channel off .7795 (see graph)Currently back in channel off .7795 (see graph) 1st support area at .7949/ .7938 (daily envelope bottom/ break-up hourly), with next levels at .7920/ .7916 (daily Medium Term Moving Average↑/ weekly envelope bottom), ahead of .7908 (daily Bollinger midline): tough on 1st attempts. If wrong, risk towards .7869/ .7863 (reaction lows hourly), where pause favored. 1st Resistance area at .7983 (reaction high hourly), with next levels at .7995/ .8004 (daily envelope top/ currnet week high): tough on 1st tests. If wrong, .8022/ .8034 = Long Term reaction highs, where pause favored.
SUPPORT
RESISTANCE
EUR/JPY (160.41)Drop from 169.97 extended to 159.92 and testing daily channel off 2000 low (160.23 today). 1st Resistance area at 161.33/ .40 (daily Short Term Moving Average↓/ daily envelope top), with next levels at 161.51/ .73 (reaction high hourly/ breakdown hourly), ahead of 162.12 (daily Medium Term Moving Average↓), where pause favored. If wrong, next levels at 163.13/ .51 (see graph/ weekly envelope top): tough on 1st attempts. 1st Support area at 160.23/ 159.92 (see above/ current reaction low off 169.97), with next levels at 159.76 (daily envelope bottom), where pause favored.
SUPPORT
RESISTANCE
Disclaimer: This non-exhaustive information is based on short-term forecasts for expected developments on the financial markets. KBC Bank cannot guarantee that these forecasts will materialize and cannot be held liable in any way for direct or consequential loss arising from any use of this document or its content. The document is not intended as personalized investment advice and does not constitute a recommendation to buy, sell or hold investments described herein. Although information has been obtained from and is based upon sources KBC believes to be reliable, KBC does not guarantee the accuracy of this information, which may be incomplete or condensed. All opinions and estimates constitute a KBC judgment as of the data of the report and are subject to change without notice.              |
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