DAILY Technical Forex Market Overview
8 December 2010 – 8:00 GMT
Wednesday
_____________________________________________________________________
Market Analysis Desk
Foreign Exchange Research: www.fibosignals.com/5585/resources.html
_____________________________________________________________________
TECHNICAL DATA
USDJPY targets 84.41.
EURUSD BEARISH Recovery pressured 1.3448; but overall focus is on downside with initial support defined at 1.3193 ahead of 1.2969.
USDJPY BULLISH Following the sudden recovery yesterday, the pair now targets 84.41. Support at 83.46 intraday low.
GBPUSD BEARISH Expect downside momentum to target 1.5656 with scope for 1.5485 next. Resistance at 1.5823.
USDCHF NEUTRAL Initial support at 0.9726. Resistance at 0.9951.
AUDUSD NEUTRAL 0.9965 and 0.9739 mark the key near-term directional triggers.
USDCAD BEARISH Break through the 0.9978/31 support zone would open up the way towards 0.9820. Resistance at 1.0190.
EURCHF BEARISH Remains heavy below 1.3229 breakout low keeping our focus on downside; expect losses to target 1.2933 and 1.2766 next.
EURGBP BEARISH Momentum is negative; eyes 0.8390 ahead of 0.8335. Upside capped at 0.8528.
EURJPY BEARISH Look for a break below 108.35 and 107.73 to trigger another bearish run 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
DISCLAIMER: Fibosignals.com’s Daily Market Commentary is provided for informational purposes only. The information contained in these reports is gathered from reputable news sources and is not intended to be used as investment advice. Fibosignals.com assumes no responsibility or liability from gains or losses incurred by the information herein contained. Opinions, conclusions and other information expressed in this message are not given or endorsed by Fibosignals.com unless otherwise indicated by an authorized representative.
No comments:
Post a Comment