14th of January 2011 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
14 January 2011 – 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

GBPUSD breaks 1.5822 resistance

EURUSD NEUTRAL As long as key resistance at 1.3500 holds, view recovery as correction. Initial support at 1.3089 while resistance is at 1.3433.

USDJPY NEUTRAL Downside potential with break of 82.63; 83.67 and 82.31 mark the near-term directional triggers.

GBPUSD BULLISH Rise through 1.5822 has exposed 1.5911 ahead of 1.5965; support at 1.5719 yesterday's low.

USDCHF BULLISH Focus is on 0.9784; a break here would expose 0.9852. Support is at 0.9605.

AUDUSD BEARISH The pair found support at 0.9804 ahead of 0.9753; resistance at 1.0020.

USDCAD BEARISH Bear trend remains; eyeing 0.9849/25, a break here would expose 0.9712. Resistance is at 0.9951.

EURCHF NEUTRAL Push above 1.2871 has exposed 1.3004; initial support at 1.2686.

EURGBP BEARISH Sharp rise through 0.8427 has exposed 0.8489; broader focus is on the downside with initial support defined at 0.8313 yesterdays' low.

EURJPY NEUTRAL Break of 110.24 due to heavy intraday upward movement has exposed 111.13 Fibonacci level; support lies at 108.69.

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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