22nd of October 2010 - Technical Forex Market Overview

DAILY Technical Forex Market Overview
22 October 2010 – 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

EURCHF 1.3665 next resistance.

EURUSD BULLISH Need a break below 1.3637/1.3559 support zone to trigger the bear trend. Resistance at 1.4159 ahead of 1.4373.

USDJPY BEARISH While resistance holds at 83.03, expect extension of downleg towards 79.75 ahead of 77.91.

GBPUSD BULLISH Remains constructive above 1.5606 keeping our focus on the upside. Resistance at 1.5942 ahead of 1.6107.

USDCHF BEARISH Rise through 0.9729 exposes 0.9918 breakout low. Next big support below 0.9463 at 0.9225.

AUDUSD BULLISH Upside gains held at 1.0004; move above the level would expose 1.0166. Support defined at 0.9662 ahead of 0.9542 reaction low.

USDCAD BEARISH Tough resistance in 1.0380/1.0407 area. Initial support at 1.0162 ahead of 0.9981.

EURCHF BULLISH Climb through 1.3494 clears the way for a run towards 1.3665 and 1.3924 next. Near-term support at 1.3265 ahead of 1.3072.

EURGBP BULLISH Sudden recovery through 0.8840 and 0.8894 exposes 0.9039 next. Near-term support defined at 0.8773.

EURJPY BULLISH Focus is back on the upside; expect gains to target 115.68 and 116.68 next.

SCHEDULE

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A. M. Negrin Bautista, CFA

Chief Analyst at Fibosignals.com

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