14th of December 2010 - Technical Forex Market Overview

DAILY Technical Forex Market Overview
14 December 2010 – 8:00 GMT
Tuesday

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


TECHNICAL DATA

EURCHF 1.2766 support

EURUSD NEUTRAL Following the recovery yesterday, model has turned neutral. Initial resistance at 1.3471, support at 1.3337

USDJPY BULLISH Break of 83.45 exposes 82.34, but broader focus is on the upside with resistance defined at 84.41

GBPUSD NEUTRAL Push through 1.5892 exposes 1.5965. Support at 1.5720

USDCHF BEARISH Decline through 0.9726 opened up the way towards 0.9548. Resistance at 0.9727

AUDUSD BULLISH Break of 0.9965 exposes 1.0031. Support holds at 0.9833, yesterday's low

USDCAD BEARISH Look for a break below 0.9978/31 support zone for confirmation of bear trend. Resistance at 1.0141

EURCHF BEARISH Break of 1.2933 exposes 1.2766. Resistance at 1.3100

EURGBP BEARISH Sudden recovery cleared 0.8429 exposing 0.8528, but overall focus is on the downside at 0.8335/31 support zone.

EURJPY NEUTRAL Choppy action holding support at 109.57 ahead of 108.35. Resistance at 112.07.

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.