10th of June 2011 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
10 June 2011 – 8:00 GMT
Friday

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


TECHNICAL DATA

EURUSD BULLISH Resistance is at 1.4653/97 area, break above which would expose 1.4711. Pull back through 1.4419 would open next support at 1.4333.

USDJPY BEARISH Focus on the initial support at 79.70, break of this would expose key support at 79.57. Resistance lies at 81.01.

GBPUSD NEUTRAL Decline through 1.6325 has turned the model to neutral and exposed support at 1.6286/68 area. Initial resistance is at 1.6473.

USDCHF BEARISH Support is at 0.8327, break below this level would open 0.8300 next. Resistance lies at 0.8500.

AUDUSD BEARISH Break below 1.0510 is required to confirm the bear trend. Initial resistance is at 1.0726.

USDCAD BULLISH Key resistance is at 0.9852, break here would open 0.9910. Initial support is at 0.9697.

EURCHF BEARISH Clearance of initial resistance at 1.2318 is required for a short-term recovery, while support lies at 1.2161 ahead of 1.2108.

EURGBP BULLISH Focus is on 0.8918, move above this level would pave way for gains towards 0.8976. Support lies at 0.8846.

EURJPY NEUTRAL 117.47 and 115.21 mark the near-term directional triggers.


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.