7th of February 2011 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
7 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

USDJPY clears 81.31

EURUSD BULLISH Move above 1.3741 is required to refocus towards 1.3862 recent high while support lies at 1.3482.

USDJPY BEARISH Violation of 81.31 has exposed 80.93 ahead of 80.54. Resistance at 82.93.

GBPUSD BULLISH Push above 1.6279/99 resistance zone would expose 1.6379. Initial support is defined at 1.6037.

USDCHF NEUTRAL Rise above 0.9526 has exposed 0.9623, support is at 0.9451/0.9396 zone.

AUDUSD BULLISH Focus is towards 1.0256 key resistance. Support lies at 1.0083.

USDCAD BEARISH The pair targets 0.9832/20. Near term resistance at 0.9932.

EURCHF BULLISH Rise above 1.3069 would open up the way towards 1.3118. Support at 1.2781.

EURGBP NEUTRAL 0.8533 and 0.8377 mark the near term directional triggers.

EURJPY NEUTRAL Remains neutral; 112.92 and 110.32 mark the near term resistance and support level respectively.

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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