DAILY MARKET COMMENTARY
26 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 stalled in front of 82.23
EURUSD BEARISH Bounce back through 1.4147 has exposed 1.4202. Initial support is at 1.3970 ahead of 1.3903.
USDJPY BULLISH Stalled in front of 82.23, break above this would confirm the bull trend and expose 82.55. Key support is at 81.32.
GBPUSD BEARISH Recovery through 1.6305 has exposed 1.6402, but overall focus is on the downside with initial support at 1.6132 ahead of 1.6058.
USDCHF BEARISH Pressure on 0.8706; a break here would open up the way towards 0.8554 key support. Resistance lies at 0.8814.
AUDUSD BEARISH Focus on 1.0390/59 support area. Initial resistance is at 1.0657.
USDCAD BULLISH Momentum is positive with scope for gains towards 0.9828/49 resistance area. Initial support is at 0.9724.
EURCHF BEARISH Trend channel lower at 1.2263 forms the initial support, while resistance is at 1.2415.
EURGBP BEARISH Next support lies at 0.8618 ahead of 0.8590. Initial resistance is at 0.8717.
EURJPY BEARISH Initial support is at 114.73; break of this level would expose 113.88. Resistance is at 116.18.
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.
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