Mizuho Corporate Bank

Technical Analysis 28 January 2010

EUR
EUR=EBS, Last Quote [Candle] EUR=, Bid [Ichimoku 9, 26, 52, 26] Daily
09Oct09 - 05Mar10
Pr
EUR=EBS , Last Quote, Candle
28Jan10 1.4025 1.4040 1.3930 1.4016 1.51
EUR= , Bid, Tenkan Sen 9
28Jan10 1.4174
EUR= , Bid, Kijun Sen 26
1.5
28Jan10 1.4259
EUR= , Bid, Senkou Span(a) 52
04Mar10 1.4216
EUR= , Bid, Senkou Span(b) 52 1.49
04Mar10 1.4540
EUR= , Bid, Chikou Span 26
24Dec09 1.4013
1.48

1.47

1.46

1.45

1.44

1.43

1.42

1.41
38.2

1.4

15Oct09 22Oct 29Oct 05Nov 12Nov 19Nov 26Nov 03Dec 10Dec 17Dec 24Dec 31Dec 07Jan 14Jan 21Jan 28Jan 04Feb 11Feb 18Feb 25Feb 04Mar

Comment: Dropping below Fibonacci retracement support and the psychological level at 1.4000, but be
careful because other currencies are not following suit (though of course the US Dollar Index is). 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. There is a chance that we will form a reversal candle (‘hammer’) today.
Watch and wait patiently.

Strategy: Attempt small longs at 1.4015; stop below 1.3930. Short term target 1.4100, then 1.4180.
Chart Levels:
Support Resistance Direction of Trade
1.4023 1.4040
1.3993 1.4088
1.3930* 1.4110
1.3900 1.4180
1.3800* 1.4195*

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.