DAILY MARKET COMMENTARY
3 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
EURCHF 1.3069 resistance.
EURUSD BULLISH Climb through 1.3888/1.3948 resistance zone would expose 1.4086. Initial support lies at 1.3690.
USDJPY BEARISH Momentum is negative; scope for 80.93 and 80.54 next. Resistance at 82.15.
GBPUSD BULLISH Move above 1.6299 key high would open up the way towards 1.6379. Support lies at 1.6128.
USDCHF BEARISH Focus is on 0.9301; break of the level would leave little support till 0.9018. Initial resistance is at 0.9482.
AUDUSD BULLISH Recovery found resistance at 1.0149 Fibonacci level; break of this would expose 1.0256. Support lies at 0.9964.
USDCAD BEARISH Expect losses to target 0.9838/20 support area. Near term resistance at 0.9916.
EURCHF BULLISH Rise above 1.3002 exposes 1.3069. Support at 1.2873.
EURGBP BULLISH Break of 0.8619 would expose 0.8672/91 resistance zone. Initial support lies at 0.8510.
EURJPY BULLISH Need to break through 114.01 to confirm the bull trend and aim for 114.94 ahead of 115.68. Support lies at 111.28.
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
DISCLAIMER: Fibosignals.com’s Daily Market Commentary is provided for informational purposes only. The information contained in these reports is gathered from reputable news sources and is not intended to be used as investment advice. Fibosignals.com assumes no responsibility or liability from gains or losses incurred by the information herein contained. Opinions, conclusions and other information expressed in this message are not given or endorsed by Fibosignals.com unless otherwise indicated by an authorized representative.
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