25th of January 2011 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
25 January 2011 – 8:00 GMT
Tuesday

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

USDCHF clears 0.9521/0.9486 zone.

EURUSD BULLISH While support holds at 1.3541, expect gain towards 1.3741/86 resistance zone ahead of 1.3825.

USDJPY BEARISH Break of 81.85 would open 80.94 while resistance at 83.68 holds.

GBPUSD BULLISH Focus is on 1.6059/94 resistance zone. Initial support defined at 1.5838.

USDCHF BEARISH Breach of 0.9521/0.9486 has exposed 0.9415 ahead of 0.9301 key low. Initial resistance is at 0.9623.

AUDUSD BEARISH Move below 0.9804 would expose 0.9753. Resistance is at 1.0077.

USDCAD BEARISH Remains below 1.0034 as focus is on 0.9889/0.9838 support zone.

EURCHF BULLISH Bullish outlook with focus on 1.3069 ahead of 1.3122. Initial support is defined at 1.2815.

EURGBP BULLISH Break of 0.8563 would open up the way towards 0.8648. Initial support lies at 0.8461.

EURJPY BULLISH The cross has potential to climb to 113.03 ahead of 113.59 Fibonacci level next. Initial support lies at 112.19.

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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