DAILY MARKET COMMENTARY
18 May 2011 – 8:00 GMT
Wednesday
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Market Analysis Desk
Foreign Exchange Research: www.fibosignals.com/5585/resources.html
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TECHNICAL DATA
USDJPY bull trigger at 81.85.
EURUSD BEARISH Bounce off from 1.4048 targets 1.4340; while this is intact, expect decline towards 1.4048/21 support area ahead of 1.3903.
USDJPY NEUTRAL Model has turned neutral; 81.85 and 80.34 mark the near-term directional triggers.
GBPUSD BEARISH Focus is on 1.6147/28 support zone, move below which would open 1.6091. Resistance lies at 1.6308.
USDCHF NEUTRAL Pressure on 0.8784; a break here would favor resumption of the bear trend. Near-term resistance is at 0.8951.
AUDUSD BEARISH Clearance of 1.0513 has exposed 1.0443. Resistance is at 1.0717.
USDCAD BULLISH Upside potential held at 0.9794 ahead of 0.9828/49 resistance area. Near-term support lies at 0.9684.
EURCHF BEARISH Focus is on 1.2485 ahead of 1.2433. Near-term resistance lies at 1.2614.
EURGBP BEARISH Break through 0.8674/55 support zone would open 0.8618. Resistance lies at 0.8800.
EURJPY BEARISH Initial support is at 113.42, move below this level would expose 113.00 key Fibonacci level. Near-term resistance is at 116.90.
SCHEDULE
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A. White
Analyst at Fibosignals.com
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