10th of October 2011 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
10 October 2011 – 8:00 GMT
Monday

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


TECHNICAL DATA

EURUSD BEARISH Support lies at 1.3242, a break below which would open 1.3146. Resistance is at 1.3601.

USDJPY NEUTRAL Initial resistance is at 77.76, top of the bear channel drawn off April 7 high ahead of 77.86. Support lies at 76.11.

GBPUSD BEARISH As long as resistance at 1.5716 holds, there is scope for a move towards 1.5423 and 1.5272.

USDCHF BULLISH Rise through 0.9340 would expose 0.9401, a Fibonacci level. Near-term support lies at 0.9078.

AUDUSD BEARISH Decline through 0.9622 would open 0.9488 next. Resistance is at 0.9986.

USDCAD BULLISH Initial resistance is at 1.0483, a move above which would open 1.0572. Support lies at 1.0235 ahead of 1.0144.

EURCHF BULLISH Break above 1.2469 would open the way for 1.2646. Support lies at 1.2218.

EURGBP BEARISH Key support lies at 0.8530, a break here would open the way towards 0.8430. Resistance is at 0.8740.

EURJPY BEARISH Move below 101.62 would expose the key low at 100.76. Resistance is at 104.96.


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.