Thursday, February 17, 2011

17th of February 2011 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
17 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


GBPUSD 1.6186 resistance.


EURUSD NEUTRAL 1.3621 and 1.3428 mark the near-term bull and bear triggers respectively.


USDJPY BULLISH Focus is on 84.21/51 resistance zone. Support at 83.10.


GBPUSD BULLISH Recovery stalled in front of 1.6186; move above the level would expose 1.6279. Support is defined at 1.5987.


USDCHF BULLISH Pullback through 0.9575 exposes 0.9524. Initial resistance at 0.9739 ahead of 0.9776.


AUDUSD NEUTRAL Initial resistance at 1.0075, while support is defined at 0.9944.


USDCAD BEARISH The pair eyes 0.9832/20 support zone; break through this would expose 0.9712. Near-term resistance at 0.9905.


EURCHF BULLISH As long as support at 1.2973 holds, expect gains to target 1.3131 ahead of 1.3206.


EURGBP BEARISH Move below initial support 0.8356 would expose 0.8332. Near-term resistance is at 0.8450.


EURJPY BULLISH Targets 114.01/94 resistance area. Support lies at 11291.



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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