Monday, January 31, 2011

31st of January 2011 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
31 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


USDCHF pressures 0.9390 support


EURUSD BULLISH Resistance at 1.3786 holds while support zone is at 1.3573/41.


USDJPY BEARISH Break of 81.85 has exposed 81.61 ahead of 81.23. Resistance at 82.93 Friday's high.


GBPUSD BULLISH Support at 1.5752 holds, focus is on 1.6017 ahead of 1.6059 next.


USDCHF BEARISH Pressure on 0.9390, breach of this level would expose 0.9301 key low. Initial resistance is at 0.9523.


AUDUSD BEARISH Support zone at 0.9833/04 holds. Near-term resistance is at 1.0022.


USDCAD NEUTRAL 1.0067 and 0.9838 mark the near term directional triggers.


EURCHF NEUTRAL Pressure builds on initial support 1.2774, near term resistance lies at 1.3002.


EURGBP BULLISH Focus is on 0.8672/91 resistance zone. Initial support lies at 0.8529.


EURJPY BULLISH Upside potential with resistance at 114.01/94, breach of this zone would expose 115.68 next. Initial support lies at 110.51.



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

DISCLAIMER: Fibosignals.com’s Daily Market Commentary is provided for informational purposes only. The information contained in these reports is gathered from reputable news sources and is not intended to be used as investment advice. Fibosignals.com assumes no responsibility or liability from gains or losses incurred by the information herein contained. Opinions, conclusions and other information expressed in this message are not given or endorsed by Fibosignals.com unless otherwise indicated by an authorized representative.

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