27th of April 2011 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
27 April 2011 – 8:00 GMT
Wednesday

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


TECHNICAL DATA

EURUSD heads towards 1.4736/76

EURUSD BULLISH Following the break of 1.4685 the pair now heads towards 1.4736/76 area. Support lies at 1.4500.

USDJPY BEARISH Push below 81.55 has exposed 80.89, while resistance is at 82.43.

GBPUSD BULLISH Look for gains towards 1.6553/99 area ahead of 1.6672, while support at 1.6387 is intact.

USDCHF BEARISH The decline today took out 0.8700, support level, to expose 0.8665. Near-term resistance is at 0.8893.

AUDUSD BULLISH Climb through 1.0845 has exposed 1.1000. Near-term support is at 1.0677.

USDCAD BEARISH Support is at 0.9455/46 area, while resistance at 0.9600 holds.

EURCHF BEARISH Targets 1.2730 key support; a break here would pave the way for weakness towards 1.2624. Initial resistance is at 1.2880.

EURGBP BULLISH Focus is on 0.8924/42 area; next resistance at 0.9000. Support lies at 0.8800.

EURJPY NEUTRAL 120.39 and 118.27 mark the short-term directional triggers.

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.