27th of May 2011 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
27 May 2011 – 8:00 GMT
Friday

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

EURCHF and USDCHF define new lows.

EURUSD BEARISH As long as resistance at 1.4346 holds, expect the pair to lose. Initial support is at 1.4068 ahead of 1.3970.

USDJPY BEARISH Decline through 80.94 has exposed 80.64. Resistance at 82.23 caps the upside.

GBPUSD NEUTRAL Model has turned neutral with 1.6517 and 1.6268 marking the near term directional triggers.

USDCHF BEARISH The pair cleared 0.8554, key support, to expose 0.8500. Resistance lies at 0.8663.

AUDUSD BEARISH Recovery through 1.0657 has exposed 1.0794. Initial support is at 1.0510 ahead of 1.0441.

USDCAD BULLISH Stalled at 0.9816 ahead of 0.9849. Near-term support lies at 0.9744.

EURCHF BEARISH The cross continues to fall; break below the trend channel lower boundary has left little support till 1.2000. Resistance is at 1.2360.

EURGBP BEARISH Break below 0.8590 would expose 0.8534. Initial resistance is at 0.8717.

EURJPY BEARISH Move below 113.88 would lead to 113.42/00 area. Resistance lies at 116.38.


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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