24th of February 2011 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
24 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

USDCHF clears 0.9329/01.

EURUSD BULLISH Rise through 1.3744 exposes 1.3826 and 1.3862 next. Near term support is at 1.3647.

USDJPY NEUTRAL Decline through 82.34 has exposed 81.78, while resistance lies at 82.89.

GBPUSD BULLISH Bullish pressure holds below 1.6279/99 resistance zone. Near-term support comes in at 1.6101.

USDCHF BEARISH Negative momentum continues; breach of 0.9329/01 support area has exposed 0.9241. Near-term resistance at 0.9506.

AUDUSD NEUTRAL 1.0158 and 0.9944 mark the near-term directional triggers.

USDCAD BEARISH Initial support is at 0.9816 ahead of 0.9745/12 area. Resistance at 0.9959.

EURCHF BEARISH Push below 1.2774 would expose 1.2709. Initial resistance at 1.2958.

EURGBP NEUTRAL Move above 0.8514 would expose 0.8533. Near-term support lies at 0.8384.

EURJPY BULLISH Focus is on 114.19, breach of this level would expose 114.94. 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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