17th of January 2011 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
17 January 2011 – 8:00 GMT
Monday

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

GBPUSD pressure on 1.5911.

EURUSD BULLISH Resistance at 1.3500 holds, while initial support is at 1.3089.

USDJPY NEUTRAL Motion is sideways; 83.67 and 82.31 mark the near-term directional triggers.

GBPUSD BULLISH Pressure on 1.5911, break here would expose 1.5965; support at 1.5719.

USDCHF BULLISH Trading below 0.9784, break of this level 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 Outlook remains bearish; focus is on 0.9849/25 area ahead of 0.9712. Resistance is at 1.0004.

EURCHF BULLISH Positive tone continues targeting 1.3004; initial support at 1.2686.

EURGBP BEARISH Broader focus is on the downside at 0.8313 ahead of 0.8285 while resistance is at 0.8499 Friday's high.

EURJPY BULLISH Momentum is improving; targeting 111.53 ahead of 112.19. Support is 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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