25th of February 2011 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
25 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 support.

EURUSD BULLISH Upside potential targets upper boundary of the 1.3826/62 resistance zone. Near term support is at 1.3705.

USDJPY BEARISH Momentum is negative; expect losses towards 81.13 ahead of 80.93. Resistance lies at 82.52.

GBPUSD BULLISH Tough resistance zone at 1.6279/99. Near-term support comes in at 1.6085.

USDCHF BEARISH Bearish conditions remain intact; look for downside towards 0.9200 ahead of 0.8951. Near-term resistance at 0.9336.

AUDUSD BULLISH Focus is on initial resistance 1.0158 ahead of 1.0200. Support lies at 1.0002.

USDCAD BEARISH Move below 0.9816 exposes 0.9745/12 support area. Resistance at 0.9902.

EURCHF BEARISH Support is at 1.2686 ahead of 1.2592. Near-term resistance at 1.2882.

EURGBP BULLISH Rise above 0.8533 and 0.8577 exposes 0.8619. Near-term support lies at 0.8470.

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

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