26th of January 2011 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
26 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 0.9301 key support.

EURUSD BULLISH Outlook is bullish; rise through 1.3741/86 resistance zone would expose 1.3825. Support at 1.3541.

USDJPY BEARISH The pair eyes 81.85; Move below the level would expose 81.61 ahead of 80.93. Near-term resistance at 82.67.

GBPUSD BULLISH Next support below 1.5752 lies at 1.5702. Resistance at 1.6017 yesterday's high.

USDCHF BEARISH Violation of 0.9415 favors extension of losses towards 0.9301 key low. Initial resistance is at 0.9523.

AUDUSD NEUTRAL Motion is sideways; 1.0077 and 0.9804 mark the near-term directional triggers.

USDCAD NEUTARL Initial resistance at 1.0031; support at 0.9909.

EURCHF BULLISH As long as support at 1.2815 holds view pullback as correction. Resistance at 1.3069.

EURGBP BULLISH Recovery has scope for 0.8691 next. Initial support lies at 0.8529.

EURJPY BULLISH Recovery stalled below 113.03; break of this would expose 113.59 Fibonacci level next. Initial support lies at 111.64.

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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