16th of November 2010 - Technical Forex Market Overview

DAILY Technical Forex Market Overview
16 November 2010 – 8:00 GMT
Tuesday

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


TECHNICAL DATA

EURUSD support at 1.3235.

EURUSD BEARISH Breach of 1.3574 exposes 1.3235. Resistance at 1.3777 ahead of 1.4282.

USDJPY BULLISH Focus on 83.99, only a break above 85.93 would confirm a bull trend. Initial support at 81.66 reaction low.

GBPUSD BULLISH Upside potential holds below 1.6379 ahead of 1.6458. Support holds at 1.5952.

USDCHF BULLISH Push through 0.9972 would expose 1.0183. Support at 0.9671 ahead of 0.9463.

AUDUSD NEUTRAL Pullback from 1.0183 has support at 0.9652 ahead of 0.9542 reaction low.

USDCAD BEARISH Stalled in front of 0.9931, push through the level would expose 0.9820 with scope for 0.9712 next. Resistance at 1.0156.

EURCHF BEARISH Push through 1.3229 and 1.3072 would expose 1.2766. Sustained break of 1.3834 required for resumption of bull trend.

EURGBP BEARISH Move below 0.8390 would expose 0.8311. Resistance at 0.8638.

EURJPY BEARISH Remains heavy below 115.68; break of 111.05 reaction low would expose 107.73.

SCHEDULE

Please visit Fibosignals.com’s Economic Calendar for a schedule of market news and events.

A. M. Negrin Bautista, CFA

Chief 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.