8th of February 2011 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
8 February 2011 – 8:00 GMT
Tuesday

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

USDJPY 80.93 support.

EURUSD BULLISH Focus is on 1.3741, break of this is required to refocus towards 1.3862 recent high while support lies at 1.3482.

USDJPY BEARISH Violation of 80.93 would expose 80.54 next. Resistance at 82.93.

GBPUSD BULLISH Initial resistance at 1.6186 ahead of 1.6279/99 zone. Near-term support is defined at 1.6037.

USDCHF NEUTRAL 0.9623 and 0.9329 mark the near term directional triggers.

AUDUSD BULLISH Focus is on 1.0200/56 resistance zone. Support lies at 1.0083.

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

EURCHF BULLISH Pressure on 1.3069; move above this would open up the way towards 1.3118. Support at 1.2867.

EURGBP BEARISH Move below 0.8377 is required to confirm the negative trend. Resistance is at 0.8477.

EURJPY BULLISH Focus is on 112.92, break of this would confirm the uptrend and expose 114.01 next. Support zone is at 110.78/32.

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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