DAILY MARKET COMMENTARY
11 February 2011 – 8:00 GMT
Friday
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Market Analysis Desk
Foreign Exchange Research: www.fibosignals.com/5585/resources.html
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TECHNICAL DATA
USDJPY 83.68 resistance.
EURUSD NEUTRAL Break of 1.3572 has turned the model to neutral; Support zone is at 1.3509/1.3482 while resistance is at 1.3744.
USDJPY BULLISH Violation of 82.93 pressurises initial resistance 83.68, break of which would expose 83.91, support lies at 81.20.
GBPUSD BULLISH As long as support at 1.5922 holds, expect recovery towards 1.6186 ahead of 1.6279/99 zone. Near-term support is defined at 1.6010.
USDCHF BULLISH Breach of 0.9687 has exposed 0.9764 next; support at 0.9575/24 zone.
AUDUSD NEUTRAL Pressure on initial support 0.9964 builds, break of this would expose 0.9897. Initial resistance is at 1.0152.
USDCAD NEUTRAL 1.0011 and 0.9915 mark the near term directional triggers.
EURCHF BULLISH Momentum is positive; focus is on 1.3206/87 resistance zone. Support at 1.2973.
EURGBP BEARISH Focus is on initial support at 0.8420 ahead of 0.8377. Near-term resistance is at 0.8530.
EURJPY BULLISH Resistance zone is at 114.01/94. Initial support lies at 112.06.
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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