Thursday, July 14, 2011

14th of July 2011 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
14 July 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 pressures 78.44 support

EURUSD BEARISH Break of 1.3951 would open 1.3837 key low. Resistance is at 1.4342 Fibonacci level.

USDJPY BEARISH Pressure on 78.44 Fibonacci support; a break here would open 76.25 key low. Near-term resistance is at 79.57 previous low.

GBPUSD BEARISH The pair bounced back through 1.6141 to expose 1.6263. Overall outlook is negative and we expect weakness towards 1.5906 and 1.5781.

USDCHF BEARISH Bear trend continues; decline through 0.8165 has triggered further weakness towards 0.8000 psychological level. Resistance is at 0.8276 previous low.

AUDUSD BULLISH Break of 1.0790 has exposed 1.0889, while support lies at 1.0580,

USDCAD BEARISH Violation of 0.9566 has exposed 0.9513, a key level. Resistance is at 0.9669.

EURCHF BEARISH The cross continues to weaken. Support is at 1.1458, where a break would open up the way for eventual move towards parity. Resistance is at 1.1752.

EURGBP BEARISH Clearance of 0.8749 would expose 0.8722. Initial resistance is at 0.8906.

EURJPY BEARISH Support lies at 109.58, a move below the level would open 107.99 and 106.61 next. Near-term resistance is at 112.95.


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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