28th of February 2011 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
28 February 2011 – 8:00 GMT
Monday

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

USDCAD eyes 0.9745/12.

EURUSD BULLISH Rise through 1.3838/62 would expose 1.3948. Near term support is at 1.3649.

USDJPY BEARISH Push below 81.13 would expose 80.93. Initial resistance defined at 82.52.

GBPUSD BULLISH Initial resistance is at 1.6255 ahead of 1.6279/99 zone. Support is defined at 1.6031.

USDCHF BEARISH Downtrend continues with focus on 0.9200 and potential for 0.8951 next. Near-term resistance at 0.9392.

AUDUSD BULLISH Pressure on 1.0200 initial resistance; next resistance at 1.0256. Support lies at 1.0002.

USDCAD BEARISH Outlook is bearish; the pair eyes 0.9745/12 zone. Near-term resistance at 0.9816, previous low.

EURCHF BEARISH While resistance at 1.2958 holds, expect losses towards 1.2706. Move below this level would open up 1.2686/1.2592.

EURGBP BULLISH Break of 0.8593 would expose 0.8619. Near-term support lies at 0.8470.

EURJPY NEUTRAL Model has turned neutral; 113.46 and 111.38 mark the near-term directional triggers.

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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