10th of February 2011 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
10 February 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

EURJPY breaks 112.92.

EURUSD BULLISH Violation of 1.3741 has made the pair target 1.3779, break of this would expose 1.3826/62. Near term support is at 1.3572.

USDJPY NEUTRAL Rise through 82.67 would expose 82.93 while support lies at 81.78.

GBPUSD BULLISH Expect gains to target 1.6186 ahead of 1.6279/99 zone. Near-term support is defined at 1.6010.

USDCHF BULLISH Focus is on 0.9687 with scope for 0.9764 next; support at 0.9524.

AUDUSD BULLISH Resistance zone lies at 1.0200/56 while near term support lies at 1.0002.

USDCAD NEUTRAL Resistance lies at 0.9978 while initial support is at 0.9869.

EURCHF BULLISH Momentum is positive; focus is on 1.3206/87 resistance zone. Support at 1.2973.

EURGBP NEUTRAL Move above 0.8508 has turned the model to neutral; 0.8577 and 0.8520 mark the near term directional triggers.

EURJPY BULLISH Rise through 112.92 has exposed 114.01/94 resistance zone. Initial support lies at 112.06 yesterday's low.

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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