3rd of December 2010 - Technical Forex Market Overview

DAILY Technical Forex Market Overview
3 December 2010 – 8:00 GMT
Friday

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Market Analysis Desk
Foreign Exchange Research: www.fibosignals.com/5585/resources.html
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TECHNICAL DATA

USDJPY stalled at 84.41.

EURUSD BEARISH Pullback from 1.4282 found support at 1.2969, scope for 1.2796 next. Resistance at 1.3354.

USDJPY BULLISH Stalled at 84.41; breach of the level would expose 85.40 reaction high. Initial support at 82.79.

GBPUSD BEARISH Sell-off from 1.6299 found support at 1.5485; move below the level would expose 1.5297. Near-term resistance at 1.5773.

USDCHF BULLISH Next big resistance lies at 1.0183. Near-term support at 0.9926.

AUDUSD BEARISH Recovery eyes 0.9818 resistance but overall outlook is bearish. Expect losses to target 0.9537 and 0.9477 next.

USDCAD BEARISH Abrupt fall through 1.0076 brings focus on the 0.9978/31 support zone. Resistance at 1.0190.

EURCHF BEARISH While resistance at 1.3229 breakout low holds, expect losses to target 1.2933 and 1.2766 next.

EURGBP BEARISH Focus is on 0.8329; a break here would expose 0.8202. Resistance at 0.8564.

EURJPY BEARISH Decline through 108.35 and 107.73 would open up the way towards 105.44 key low. Near-term resistance at 111.98.

SCHEDULE

Please visit Fibosignals.com’s Economic Calendar for a schedule of market news and events.

A. M. Negrin Bautista, CFA

Chief Analyst at Fibosignals.com

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