2nd of May 2011 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
2 May 2011 – 8:00 GMT
Monday

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

AUDUSD targets 1.1017

EURUSD BULLISH While support at 1.4633 is intact, expect the pair to gain towards 1.4905 and 1.5000.

USDJPY BEARISH Focus is on 80.89/69 support area; a break here would expose 80.00. Resistance lies at 82.28.

GBPUSD BULLISH Initial resistance is at 1.6747, move above the level would expose 1.6878. Support is at 1.6432.

USDCHF BEARISH Push below 0.8600 would expose 0.8569. Near-term resistance is at 0.8835.

AUDUSD BULLISH Following the break through 1.1000, the pair targets 1.1017 next. Near-term support is at 1.0852.

USDCAD BEARISH The pair found support at 0.9446, a break here would open 0.9400 next. Resistance lies at 0.9576.

EURCHF BEARISH The cross fails to break through 1.2974 resistance; while this level holds, break of 1.2730 would favour further losses towards 1.2624.

EURGBP BULLISH Upside potential targets 0.8942, move above this would open 0.9000 next. Support lies at 0.8847.

EURJPY BULLISH Initial resistance is at 121.84, break above this would signal scope for a run towards 122.41 and 123.33. Support is at 12000.


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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