12th of January 2011 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
12 January 2011 – 8:00 GMT
Wednesday

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

USDCHF breaks 0.9727/74.

EURUSD BEARISH Bearish pressure holds above 1.2830/1.2796 support area. Resistance is at 1.3021.

USDJPY NEUTRAL Model is neutral; 83.67 and 82.63 mark the near-term directional triggers.

GBPUSD NEUTRAL Move above 1.5665 would put odds in favor of bull trend; support at 1.5513.

USDCHF BULLISH Recovery through 0.9727/74 area has exposed 0.9852 next. Support is at 0.9605.

AUDUSD BEARISH Bearish outlook, break of 0.9812 favours extension of bear trend towards 0.9753. Resistance at 0.9956.

USDCAD BEARISH Lower boundary of 0.9889/25 support area holds; a break here would expose 0.9820.Resistance is at 0.9951.

EURCHF NEUTRAL Initial resistance at 1.2726; support at 1.2402.

EURGBP BEARISH Violation of 0.8285 would expose 0.8252; resistance at 0.8339.

EURJPY BEARISH Next big support lies at 105.97 key low, resistance at 108.55.

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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