17th of March 2011 - Technical Forex Market Overview DAILY MARKET COMMENTARY

DAILY MARKET COMMENTARY
17 March 2011 – 8:00 GMT
Thursday

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


TECHNICAL DATA

EURUSD BULLISH Remains below 1.4013/36 resistance area, move above this would open way towards 1.4086. Initial support lies at 1.3855.

USDJPY BEARISH The pair defined an all time low at 76.36. Initial resistance is at 80.22, previous low.

GBPUSD BEARISH Focus is on support zone 1.5977/64; break of this would confirm the bear trend and open up 1.5845 next. Near-term resistance lies at 1.6200.

USDCHF BEARISH The pair cleared 0.9014 and 0.8951; next support at 0.8795. Initial resistance is at 0.9198.

AUDUSD BEARISH Break below 0.9804 key support has opened up the way towards 0.9625 and 0.9537. Initial resistance lies at 0.9963.

USDCAD BULLISH Initial resistance is at 0.9974, move above this would open 1.0011/58 area. Near-term support is at 0.9807.

EURCHF BEARISH Fall through 1.2727/06 support zone has exposed 1.2402, key low from Dec 30. Resistance at 1.2706, previous low.

EURGBP BULLISH Upside potential, the cross targets 0.8787 Fibonacci level ahead of 0.8818. Near-term support is at 0.8626.

EURJPY BEARISH Sudden sell-off today found support at 106.61 ahead of 105.80/44 support zone. Near-term resistance is at 111.31.


SCHEDULE

Please visit Fibosignals.com’s Economic Calendar for a schedule of market news and events.

A. White
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.