Thursday, July 28, 2011

28th of July 2011 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
28 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

EURCHF support 1.1374

EURUSD BULLISH Key resistance is at 1.4578; a break above this would open up 1.4697. Initial support lies at 1.4269.

USDJPY BEARISH A move below 77.41 would expose 76.25, a key low. Resistance is at 78.70.

GBPUSD BULLISH Clearance of 1.6442 would open 1.6496. Support lies at 1.6262.

USDCHF BEARISH Watch for a clear break of 0.8000, psychological level, to extend weakness towards 0.7927. Resistance is at 0.8178.

AUDUSD BULLISH The pair extends gains; resistance is at 1.1081, a clearance of which would pave the way towards 1.1198. Initial support lies at 1.0943.

USDCAD BEARISH Initial support lies at 0.9407, a break below which would expose 0.9385. Near-term resistance is at 0.9531.

EURCHF BEARISH Momentum is negative; focus is on 1.1374 where a break would open 1.1288. Initial resistance is at 1.1663.

EURGBP BEARISH Break of 0.8705 would confirm the bear trend opening 0.8657 next. Resistance is at 0.8848.

EURJPY BEARISH While resistance at 113.66 remain intact, expect a decline towards 111.46 ahead of 110.66.


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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