22nd of February 2011 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
22 February 2011 – 8:00 GMT
Tuesday

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Market Analysis Desk
Foreign Exchange Research: www.fibosignals.com/5585/resources.html
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TECHNICAL DATA

EURCHF 1.2867 support.

EURUSD BULLISH A move above 1.3744 would expose 1.3826. Near-term support at 1.3546.

USDJPY BULLISH As long as 82.34 continue to cap the downside risks, expect recovery towards 83.98.

GBPUSD BULLISH Upside gains are stalled at 1.6279/99 resistance zone. Support is defined at 1.6076.

USDCHF BEARISH Currently holds support at 0.9425, a move below this would expose 0.9329/01 support area. Initial resistance at 0.9539.

AUDUSD BULLISH Break of 1.0018 exposes 0.9944, but overall focus in on the upside with initial resistance at 1.0158 ahead of 1.0200.

USDCAD BEARISH Move below 0.9816 would expose 0.9745/12 area. Near-term resistance at 0.9905.

EURCHF NEUTRAL A break below 1.2867 would trigger negative tone. Initial resistance is at 1.3029.

EURGBP BEARISH Break of 0.8356 would lead to the extension of losses towards 0.8332/13 support zone. Near-term resistance is at 0.8450.

EURJPY BULLISH Look for a break above114.94 for extension of the bull trend towards 115.42/68. Near-term support holds at 112.09.

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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