24th of March 2011 - Technical Forex Market Overview

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

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


TECHNICAL DATA

EURUSD 1.3981 support.

EURUSD BULLISH As long as support at 1.3981 holds, look for resistance area 1.4249/82. Break above this would open up 1.4373 next.

USDJPY BEARISH Focus is on 80.00; a break here would expose 78.83. Near-term resistance lies at 82.01.

GBPUSD BULLISH Move above 1.6401 would pave the way for a climb to 1.6458 and 1.6500. Support is at 1.6204 ahead of 1.6143.

USDCHF BEARISH The pair eyes 0.9198 resistance. Overall focus is on the downside with initial support at 0.8964 ahead of 0.8852 key low.

AUDUSD BULLISH Break of 1.0162 would trigger a bull trend and open way to 1.0202. Initial support lies at 1.0038.

USDCAD BULLISH Near-term resistance is at 0.9867, while support lies at 0.9735. Only a break above 0.9974 would confirm the bull trend.

EURCHF BEARISH Move below 1.2660 would expose 1.2571. Resistance is at 1.2887.

EURGBP BULLISH While support at 0.8626 holds, expect the cross to target 0.8761/87 resistance area.

EURJPY BULLISH Break of 115.57 would signal scope for further gains towards 116.00/68 area; Support lies at 113.06.


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.