24th of January 2011 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
24 January 2011 – 8:00 GMT
Monday

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

EURUSD clears 1.3575.

EURUSD BULLISH Break of 1.3575 has exposed 1.3741/86. Near-term support lies at 1.3449 Friday's low.

USDJPY BEARISH Focus is on 81.85, break of this level would confirm the bear trend and expose 81.58 next. Initial resistance is at 83.68.

GBPUSD BULLISH Momentum is positive with focus on the 1.6059/94 resistance zone. Initial support defined at 1.5838.

USDCHF BEARISH Support is at 0.9521, break of this level would expose 0.9486 Fibonacci level. Near term resistance is at 0.9784.

AUDUSD BEARISH The pair eyes 0.9804, breach of this level would expose 0.9753 while resistance is at 1.0009.

USDCAD NEUTRAL Move below 0.9912 would trigger resumption of bear trend towards 0.9838; initial resistance at 0.9988.

EURCHF BULLISH Focus is on 1.3122, break here would expose 1.3206; initial support at 1.2815.

EURGBP BULLISH Positive momentum; recovery found resistance at 0.8563, break of which would confirm bull trend. Support lies at 0.8461.

EURJPY BULLISH Remains positive and focus is on 113.03 ahead of 113.67; initial support is at 110.32.

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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