19th of April 2011 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
19 April 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

EURUSD 1.4152 support

EURUSD NEUTRAL Abrupt fall through 1.4291 has turned the model neutral with initial support at 1.4152. Resistance is at 1.4450.

USDJPY NEUTRAL Move below 82.55 has exposed 82.00 and 81.55. Resistance is at 83.27 ahead of 83.78.

GBPUSD BULLISH Move below 1.6227 has exposed 1.6125; while this level holds expect the pair to gain towards 1.6385 and 1.6428.

USDCHF BEARISH Focus is on 0.8852/23 support area. Near-term resistance lies at 0.9076.

AUDUSD BULLISH Resistance is at 1.0584, break of this would expose 1.0600/40 area. Support lies at 1.0390.

USDCAD BEARISH Break of initial resistance 0.9698 has exposed 0.9750, but overall outlook is bearish with focus on 0.9557/27 support area.

EURCHF BEARISH Extension of losses through 1.2736 has opened up the way towards 1.2624. Initial resistance is at 1.2891.

EURGBP NEUTRAL Pull back through 0.8714/07 area would favour negative tone. Near-term resistance lies at 0.8800

EURJPY NEUTRAL Following the break of 118.00 and 116.94, model has turned neutral. Break of 116.00 would trigger negative tone, while resistance is at 119.10.


SCHEDULE

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

A. White
Analyst at Fibosignals.com

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