13th of January 2011 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
13 January 2011 – 8:00 GMT
Thursday

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

USDCAD holds above 0.9825.

EURUSD BEARISH Currently holds support at 1.2867 ahead of 1.2796 Fibonacci level. Resistance is at 1.3170.

USDJPY NEUTRAL 83.67 and 82.63 mark the near-term directional triggers.

GBPUSD BULLISH Sharp rise through 1.5709 has exposed 1.5822 ahead of 1.5911; support at 1.5583 yesterday's low

USDCHF BULLISH Upside potential with focus on 0.9852 ahead of 0.9916. Support is at 0.9605.

AUDUSD BEARISH The pair found support at 0.9804 ahead of 0.9753; resistance at 1.0015.

USDCAD BEARISH Lower boundary of 0.9889/25 support area holds; a break here would expose 0.9712.Resistance is at 0.9951.

EURCHF NEUTRAL Rise through 1.2726 has exposed 1.2797; initial support at 1.2517.

EURGBP BEARISH Violation of 0.8285 would expose 0.8252; resistance at 0.8339.

EURJPY BEARISH As long as resistance holds at 110.24, expect losses to target 106.83 ahead of 105.80/44 support zone.

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

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