Monday, March 14, 2011

14th of March 2011 - Technical Forex Market Overview DAILY MARKET COMMENTARY

DAILY MARKET COMMENTARY
14 March 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 80.62 support.

EURUSD BULLISH Opens gap up; the pair targets 1.4000/36 resistance area ahead of 1.4086. Near-term support lies at 1.3752.

USDJPY BEARISH Sell-off during the day found support at 80.62 ahead of 80.22 key low. Resistance lies at 83.30.

GBPUSD NEUTRAL Violation of 1.5977/64 would trigger a negative tone and expose 1.5892 Fibonacci level next. Initial resistance is defined at 1.6213.

USDCHF BEARISH Focus is maintained on 0.9236/00 support zone, move below this would expose 0.8951. Initial resistance is at 0.9369 ahead of 0.9421.

AUDUSD NEUTRAL 1.0202 and 0.9944 mark the near-term directional triggers with key resistance defined at 1.0256.

USDCAD BEARISH Move below 0.9668 would expose 0.9600. Near-term resistance lies at 0.9803.

EURCHF BULLISH A push above 1.3040 would expose 1.3086, while initial support is at 1.2827.

EURGBP BULLISH Following the recovery through 0.8654/72 resistance area, the pair pressures 0.8691 ahead of 0.8777. Near-term support is at 0.8534.

EURJPY BULLISH As long as support at 111.96 holds, focus is on upside with initial resistance at 115.29 ahead of 116.00.


SCHEDULE

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A. M. Negrin Bautista, CFA
Chief Analyst at Fibosignals.com

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