18th of August 2011 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
18 August 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

GBPUSD clears 1.6547.

EURUSD BULLISH A move above 1.4536 would open the way towards 1.4697. Initial support lies at 1.4226.

USDJPY BEARISH A break below 76.25, the key low from Mar 17, would expose the psychological level of 75.00. Initial resistance is at 77.31.

GBPUSD BULLISH The rise through 1.6547 has opened the way for further gains towards 1.6661 and 1.6747. Initial support lies at 1.6323.

USDCHF NEUTRAL The near-term directional triggers are at 0.8278 and 0.7549.

AUDUSD BEARISH As long as the resistance at 1.0641, a key retracement level, holds, watch for a move below 1.0406 to expose 1.0331.

USDCAD BULLISH A clearance of 0.9872 would expose 0.9919. Near-term support lies at 0.9742.

EURCHF NEUTRAL The cross has resistance at 1.1781 while support lies at 1.0686.

EURGBP BEARISH The cross now heads towards 0.8643 and 0.8611. Initial resistance is at 0.8830.

EURJPY BEARISH A violation of 108.93 would expose 108.03, a key low from Aug 11. Initial resistance is at 112.71.


A. White
Analyst at Fibosignals.com

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