7th of February 2012 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
7 February 2012 – 8:00 GMT
Tuesday

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

EURUSD BULLISH As long as support at 1.3026 holds, look for a move above 1.3234, the Jan. 27 key high, to expose 1.3386.

USDJPY BEARISH Two key supports are at 76.04 and 75.35. Resistance is at 77.15.

GBPUSD BULLISH Focus is on 1.5883, a break above which would open 1.5947. Support lies at 1.5699.

USDCHF NEUTRAL Support lies at 0.9115 ahead of 0.9066, the Nov. 30 key low. Resistance is at 0.9339 ahead of 0.9396.

AUDUSD BULLISH Clearance of 1.0794 has opened the way for further gains towards 1.1007 and 1.1081, July 27 2011 high. Support lies at 1.0672.

USDCAD BEARISH Focus is on 0.9892, a decline through this would signal scope for losses towards 0.9725. Resistance is at 1.0034.

EURCHF BEARISH Support lies at 1.2032 ahead of 1.2000 and resistance is at 1.2086.

EURGBP BEARISH Initial support lies at 0.8255 ahead of key low at 0.8222. Resistance is at 0.8344.

EURJPY BULLISH Clearance of 100.89 would open 101.58. Support is at 99.25.


SCHEDULE

Please visit our Economic Calendar for a for a schedule of market news and events: http://www.fibosignals.com/5585/calendar.html.

A. White
Analyst at Fibosignals.com

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