6th of January 2011 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
6 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

EURGBP support is at 0.8446.

EURUSD BEARISH Break of 1.3199 Fibonacci support exposes 1.3084/55 area.

USDJPY NEUTRAL Move above 83.10 has exposed 83.67, with the big resistance at the 84.51 mid-December high; support at 81.89.

GBPUSD NEUTRAL 1.5695 and 1.5345 mark the near term directional triggers.

USDCHF NEUTRAL Focus on the tough 0.9774 Fibonacci resistance. Support is at 0.9469 yesterday's low.

AUDUSD NEUTRAL Support lies at 0.9951/18 while resistance is at 1.0256.

USDCAD BEARISH Bearish outlook; break of 0.9917 exposes 0.9889/25 area. Initial resistance is at 1.0034.

EURCHF NEUTRAL Model has turned neutral; rise above 1.2699/1.2702 exposes 1.2847/88. Support is at 1.2456.

EURGBP NEUTRAL Pressure on 0.8446 support holds while resistance is at 0.8637.

EURJPY NEUTRAL Focus is on 110.82 resistance while support lies at 107.61.

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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