20th of January 2011 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
20 January 2011 – 8:00 GMT
Thursday

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

USDCHF breaks 0.9542 support

EURUSD BULLISH Rise through 1.3500 puts 1.3575 in focus ahead of 1.3741/86. Near-term support lies at 1.3369

USDJPY BEARISH Breach of 81.89 has exposed 81.61. Initial resistance is at 82.69.

GBPUSD BULLISH Recovery held below 1.6074/94 resistance zone. Initial support defined at 1.5878

USDCHF BEARISH Violation of 0.9542 support initiates negative tone targeting 0.9469 next. Near term resistance is at 0.9687.

AUDUSD BEARISH While resistance holds at 1.0083, focus is on support 0.9898/56.

USDCAD NEUTRAL Model has turned neutral; 1.0034 and 0.9838 mark the near term directional triggers.

EURCHF BULLISH The pair targets 1.3038 ahead of 1.3122; initial support at 1.2770.

EURGBP NEUTRAL Pressure builds on initial resistance 0.8455 while support holds at 0.8377.

EURJPY BULLISH Rise through 111.16 would open up the way towards 112.19. Support at 109.58.

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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