18th of April 2011 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
18 April 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

EURUSD BULLISH Focus is on 1.4520; a break here would expose 1.4579 and 1.4685. Initial support is at 1.4291.

USDJPY NEUTRAL Break of 82.55 would put odds in favour of a bear trend. Initial resistance is at 83.78 ahead of 84.26.

GBPUSD BULLISH Focus is on 1.6428/58 resistance zone. Near-term support is at 1.6227.

USDCHF BEARISH Outlook is bearish with focus on 0.8852/23 support area. Near-term resistance lies at 0.9076.

AUDUSD BULLISH Pressures 1.0584, break here would expose 1.0600/40 area. Support lies at 1.0458.

USDCAD BEARISH Momentum is negative; the pair targets 0.9557/27 support area. Near-term resistance is at 0.9670.

EURCHF BEARISH A move below 1.2837 would expose 1.2788, resistance is at 1.2958.

EURGBP BULLISH Violation of 0.8882 would open up the way towards 0.8924/42 zone, while support lies at 0.8793.

EURJPY BULLISH As long as support at 118.00 holds, pullback is seen as a correction. Initial resistance is at 120.35 ahead of 121.48.


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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