DAILY MARKET COMMENTARY
19 May 2011 – 8:00 GMT
Thursday
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Market Analysis Desk
Foreign Exchange Research: www.fibosignals.com/5585/resources.html
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TECHNICAL DATA
USDJPY targets 81.85.
EURUSD BEARISH As long as resistance at 1.4389 holds, focus is on the downside with initial support at 1.4121 ahead of 1.4048/21 support area.
USDJPY NEUTRAL Recovery targets 81.85; a break here would trigger a positive tone. Support lies at 80.94.
GBPUSD BEARISH Momentum is negative with focus on 1.6091; break though the level would expose 1.6046 and 1.6000. Initial resistance is at 1.6288.
USDCHF NEUTRAL Near-term resistance is at 0.8951, while break of 0.8784 has exposed 0.8708.
AUDUSD BEARISH While resistance at 1.0717 holds, expect losses towards 1.0506 ahead of 1.0443.
USDCAD BULLISH Pullback through 0.9684 has exposed 0.9600. Initial resistance is at 0.9759 ahead of 0.9794.
EURCHF BEARISH Pressure builds on 1.2485/33 support zone. Near-term resistance lies at 1.2614.
EURGBP NEUTRAL Violation of 0.8858 would favour upside, while a pullback through 0.8757 would open 0.8674.
EURJPY BEARISH Recovery holds below 116.90, which keeps our focus on the downside. Initial support is at 115.23 ahead of 114.29.
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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