Mizuho Corporate Bank

Technical Analysis 27 January 2010

EUR
EUR=EBS, Last Quote [Candle] EUR=, Bid [Ichimoku 9, 26, 52, 26] Daily
14Oct09 - 05Mar10
Pr

EUR=EBS , Last Quote, Candle

1.51
27Jan10 1.4072 1.4096 1.4054 1.4061
EUR= , Bid, Tenkan Sen 9 1.505
27Jan10 1.4268
EUR= , Bid, Kijun Sen 26 1.5
27Jan10 1.4304
EUR= , Bid, Senkou Span(a) 52 1.495
03Mar10 1.4286
EUR= , Bid, Senkou Span(b) 52 1.49
03Mar10 1.4585
EUR= , Bid, Chikou Span 26 1.485
23Dec09 1.4060
1.48

1.475

1.47

1.465

1.46

1.455

1.45

1.445

1.44

1.435

1.43
38.2
1.425

1.42

1.415

1.41

1.405
50.0
1.4
20Oct09 27Oct 03Nov 10Nov 17Nov 24Nov 01Dec 08Dec 15Dec 22Dec 29Dec 05Jan 12Jan 19Jan 26Jan 02Feb 09Feb 16Feb 23Feb 02Mar

Comment: Stuck, for the time being, in a surprisingly small range just above the 50% Fibonacci retracement
from April 2009’s low (not October 2008’s low). Over the next few weeks we feel the Euro should stabilise and form
a new interim low but this could be a slow, nerve-wracking process with a series of cautious downside probes.

Strategy: Possibly attempt very small longs at 1.4060; stop below 1.4000. Short term target 1.4180 but be
ready to re-buy on a sustained break above 1.4225 for 1.4400.
Chart Levels:
Support Resistance Direction of Trade
1.4050 1.4100
1.4042 1.4182/1.4195*
1.4029* 1.4220
1.4000** 1.4311
1.3900 1.4415

Produced by London Branch - Nicole Elliott +44-20-7786-2509

The information contained in this paper is based on or derived from information generally available to the public from sources believed to be reliable. No representation or
warranty is made or implied that it is accurate or complete. Any opinions expressed in this paper are subject to change without notice. This paper has been prepared
solely for information purposes and if so decided, for private circulation and does not constitute any solicitation to buy or sell any instrument, or to engage in any trading
strategy.

Charts provided by Reuters.