KBC Technical Analysis Forex From KBC Market Research Desk - More research on

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1 Friday, 28, From KBC Market Research Desk - More research on NEXT REPORT SHOULD BE ON NOV 02 EUR/USD: (1.4170) Rebound has met 2 nd target off (see graph) at FOREX EUR=EBS,39 ( , , , , ) HOURLY CHARTS Move above (see graph: neckline Double Bottom) has met 2 nd target of pattern (1.4215) and approached 61.8% Retracement of drop from year high (1.4254): currently back in Flag off Support at /.4146 (today s low?/ break-up hourly), with next levels at (daily envelope bottom), ahead of (break-up hourly + daily modified Alpha Beta trend bottom) and daily Short Term Moving Average ): ideal area to stay above to keep current short tone on. Failure to hold would see next levels at (break-up daily), ahead of (break-up hourly) and /.3865 (daily Medium Term Moving Average / reaction low hourly), where pause favored.. Resistance at (reaction high hourly), with next levels at /.4254 (current recovery high off daily Bollinger top/ 61.8% to ) and (daily modified Alpha Beta trend top), where pause favored. Failure to cap would see next levels at ahead of (daily envelope top), ahead of /.4359 (daily Starc top/ breakdown daily): suspect tough on 1 st attempts, amid overextended readings /.4146 (see above/ break-up hourly) (see (see /.4254 (see above + daily Bollinger to/ 61.8% to ) /.4017 (break-up hourly + see above/ daily ST MA ) /.4330 (daily envelope top/ daily Starc top) KBC Bank N.V. - Treasury and Capital Markets Front Office, Market Research

2 Friday, Oct 28, USD/JPY: (75.86) New historic low on move below Triangle pattern (see graph) FOREX JPY=EBS,39 (75.890, , , , ) New historic low has been scored on move below Triangle pattern (see graph): pair currently back above daily Downtrendline off (75.70) and currently back below the daily Downtrendline off (76.46 today). Resistance at 76.33/ (reaction high hourly + daily enveloped top/ current week high), with next levels at 76.67/ (breakdown daily/ weekly envelope top), ahead of 77.23/ (daily Starc top/ daily Bollinger top), where pause favored. Failure to cap would see next levels at 77.48/ (Oct 12 high + daily Starc top/ reaction high hourly), ahead of 77.86/ (Sept 09 high % to 75.66) and ( Aug breakdown daily): tough on 1 st attempts. 1 st Support area at 75.82/ (daily Bollinger bottom/ today s low?), ahead of 75.68/ (weekly envelope bottom/ new historic low), where pause favored. Failure to hold would see next levels at (daily projection band bottom), ahead of 75.03/ (monthly envelope bottom/ daily Starc bottom): tough on 1 st attempts 75.82/ (daily Bollinger bottom/ see 76.33/ (see above/ current week high) 75.68/ (weekly envelope bottom / new historic low) 76.67/ (breakdown daily/ see 75.03/ (see above/ daily Starc bottom) 77.35/ (daily Bollinger top/ Oct 12 high) KBC Bank N.V. - Treasury and Capital Markets Front Office, Market Research 2

3 Friday, Oct 28, EUR/GBP: (.8813) Above.8795 (see graph).8531 FOREX EURGBP=,22 (0.8810, , , , ) Pair above.8795 (see graph) and back above the daily Uptrendline off year low (.8786 today). Support at.8803 (reaction low hourly), with next levels at.8786/.8772 (see above/ break-up hourly + daily envelope bottom), ahead of.8742/.8739 (daily Short Term Moving Average + daily modified Alpha Beta trend bottom/ daily Medium Term Moving Average ), where pause favored. Failure to hold would see next levels at.8708/.8706 (daily Long Term Moving Average / daily Bollinger midline) tough on 1 st attempts. 1 st Resistance at.8831 (current week high? + daily projection band top), ahead of.8842/.8846 (Sept 06 high + daily Bollinger top/ daily modified Alpha Beta trend top + daily envelope top), where pause favored. Failure to cap would see next levels at.8872 (61.8%.9084 to.8531), ahead of.8886 (Aug Highs + neckline daily Triple Bottom): tough on 1 st attempts (see.8831 (see.8786/.8772 (see above/ break-up hourly + see.8742/.8739 (daily ST MA + see above/ daily MT MA ).8842/.8846 (Sept 06 high + daily Bollinger top/ see.8872/.8886 (61.8%.9084 to.8531/ Aug highs + see KBC Bank N.V. - Treasury and Capital Markets Front Office, Market Research 3

4 Friday, Oct 28, EUR/JPY (107.57) Has met 1 st target off (see graph) at FOREX EURJPY=EBS ( , , , , ) Rebound off has sent the pair settling back in the daily channel off and above (see graph), with 1 st target having been met (107.98) and broken Uptrendline retested. Resistance at (current recovery high off ), with next levels at /.48 (daily modified Alpha Beta trend top/ daily envelope top + broken daily Uptrendline off low), where pause favored. Failure to cap would see next levels at /.75 (daily Bollinger top/ breakdown hourly), ahead of / (2 nd target off / 38.2% to ): tough on 1 st attempts. Support at /.04 (today s low?/ daily envelope bottom), with next levels at (daily modified Alpha Beta trend bottom), ahead of /.48/ (daily Short Term Moving Average / break-up hourly), where pause favored Failure to hold would see next levels at /.11 (daily Medium Term Moving Average / reaction low hourly), ahead of (idem) and (daily Bollinger midline) : tough on 1 st attempts /.04 (today s low?/ see (see (see /.46 (daily ST MA / see /.48 (see above/ broken daily Uptrendline off year low + see / (daily Bollinger top/ 38.2% to ) KBC Bank N.V. - Treasury and Capital Markets Front Office, Market Research 4

5 Friday, Oct 28, Brussels Research (KBC) Global Sales Force Piet Lammens Peter Wuyts Brussels Didier Hanesse Corporate Desk Mathias Van Der Jeugt Commercial Desk Joke Mertens Institutional Desk Dublin Research (IIB) Austin Hughes London Prague Research (CSOB) Frankfurt Jan Cermak Paris Jan Bures New York Petr Baca Singapore Bratislava Research (CSOB) Marek Gabris Prague Bratislava Warsaw Research (Kredytbank) Budapest Piotr Radzewicz Warsaw Budapest Research (K&H) Moscow Gyorgy Barcza Our reports are also available on: 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. KBC Bank N.V. - Treasury and Capital Markets Front Office, Market Research 5