18th of February 2011 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
18 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

USDCAD 0.9745/12 next support.

EURUSD NEUTRAL Move above 1.3621 exposes 1.3696. Support at 1.3537.

USDJPY BULLISH Upside potential held at 83.98 ahead of 84.21/51 resistance zone. Near-term support is at 83.10.

GBPUSD BULLISH Stalled at 1.6187; move above the level would expose 1.6279. Support is defined at 1.6076.

USDCHF NEUTRAL Initial resistance at 0.9602, while support comes in at 0.9451.

AUDUSD BULLISH Break of 1.0075 has exposed 1.0137 next, while support defined at 1.0018.

USDCAD BEARISH Decline through 0.9832/20 support zone has exposed 0.9745/12 area. Near-term resistance at 0.9905.

EURCHF NEUTRAL Model has turned neutral; initial resistance at 1.3029 ahead of 1.3131, support at 1.2867.

EURGBP BEARISH Focus is on initial support 0.8356; break of this would expose 0.8332. Near-term resistance is at 0.8450.

EURJPY BULLISH Move above 114.01/94 would open up the way towards 115.42/68. Near-term support holds at 112.32.

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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