4th of February 2011 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
4 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

EURUSD stalls in front of 1.3888/1.3948.

EURUSD BULLISH Stalled in front of 1.3888/1.3948 resistance zone. Initial support lies at 1.3571.

USDJPY BEARISH Support lies at 81.31, break below this would expose 80.93 next. Resistance at 82.15.

GBPUSD BULLISH Focus is on 1.6299 key high with scope for 1.6379 next. Support lies at 1.6010.

USDCHF BEARISH While initial resistance is at 0.9526, focus is on 0.9329/01 support zone.

AUDUSD BULLISH Breach of 1.0149 has put focus on key resistance 1.0256 next. Support lies at 1.0083 yesterday's low.

USDCAD BEARISH Momentum is negative; break of 0.9861/38 support area would expose 0.9820. Near term resistance at 0.9978.

EURCHF BULLISH Rise through 1.3002 has exposed 1.3069 ahead of 1.3118. Support at 1.2781.

EURGBP NEUTRAL Sharp fall through 0.8510 puts pressure on 0.8433, break of this would expose 0.8413 next. On the upside initial resistance is defined at 0.8533.

EURJPY NEUTRAL Decline through 111.28 has turned the model to neutral; 112.92 and 110.32 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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