28th of October 2011 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
28 October 2011 – 8:00 GMT
Friday

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

EURUSD BULLISH A clear break above 1.4202, the former trendline support that now marks resistance, would expose 1.4288 and then 1.4386. Support is at 1.3970.

USDJPY BEARISH The pair continues to move lower; our focus is on 75.00, the psychological level. Resistance is at 76.49.

GBPUSD BULLISH Recovery through 1.6104 has exposed 1.6203. Near-term support lies at 1.5955 ahead of 1.5891.

USDCHF BEARISH The break below 0.8647 has exposed support 0.8540 and 0.8458. Resistance is at 0.8825.

AUDUSD BULLISH The focus is on 1.0765; a break here would open the way for extension of gains towards 1.1007. Support lies at 1.0486 ahead of 1.0382.

USDCAD BEARISH The pair is testing a former trendline resistance drawn off the May 2010 high, now support, intersecting at 0.9894 today. A break here would open 0.9766. Resistance is at 1.0051.

EURCHF NEUTRAL Near-term directional triggers are at 1.2474 and 1.2123.

EURGBP BULLISH A move above 0.8842 would open 0.8886 next. Support lies at 0.8769.

EURJPY BULLISH Clearance of 107.68 has exposed 109.30. Support lies at 105.68.


A. White
Analyst at Fibosignals.com

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