DAILY Technical Forex Market Overview
21 October 2010 – 8:00 GMT
Thursday
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Market Analysis Desk
Foreign Exchange Research: www.fibosignals.com/5585/resources.html
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TECHNICAL DATA
EURJPY break of 111.77 exposes 110.66
EURUSD BULLISH Break of 1.3775 reaction low exposes 1.3637/1.3559 support zone.
USDJPY BEARISH Next support at 79.75 ahead of 77.91. Upside potential capped at 83.03.
GBPUSD BULLISH Look for a break below 1.5606; till then pullback is seen as a correction. Resistance at 1.5942 ahead of 1.6107.
USDCHF BEARISH Rise through 0.9729 exposes 0.9918 breakout low. Next big support below 0.9463 at 0.9225.
AUDUSD BULLISH Upside gains held at 1.0004; move above the level would expose 1.0166. Support defined at 0.9662 ahead of 0.9542 reaction low.
USDCAD BEARISH Tough resistance in 1.0380/1.0407 area. Initial support at 1.0162 ahead of 0.9981.
EURCHF BULLISH While 1.3494 continues to cap recoveries, support lies at 1.3265 ahead of 1.3072.
EURGBP BULLISH Momentum is positive; expect gains to target 0.8840 with scope for 0.8894 and 0.9039 next. Near-term support holds at 0.8689.
EURJPY BULLISH Move below 111.77 exposes 110.66 ahead of 107.73. Upside capped at 115.68.
SCHEDULE
Please visit Fibosignals.com’s Economic Calendar for a schedule of market news and events.
A. White
Analyst at Fibosignals.com
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