28th of January 2011 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
28 January 2011 – 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

EURGBP targets 0.8672/91.

EURUSD BULLISH Targets the upper boundary of the 1.3741/86 resistance zone; break through this would expose 1.3825. Support at 1.3637.

USDJPY BEARISH Rise through 82.67 and 83.13 has exposed 83.68. Near term support is at 81.85.

GBPUSD BULLISH The pair eyes initial resistance 1.6017 ahead of 1.6059. Support comes in at 1.5843.

USDCHF BEARISH Focus is on 0.9390 ahead of 0.9301 key low. Initial resistance is at 0.9523.

AUDUSD BEARISH Momentum has shifted downside towards 0.9833/0.9804 support zone. Near-term resistance is at 1.0022.

USDCAD NEUTRAL 1.0004 and 0.9889 mark the near term directional triggers.

EURCHF BULLISH Break of 1.3069 would expose 1.3118. Near term support is defined at 1.2827.

EURGBP BULLISH Remains bullish targeting 0.8672/91 resistance zone. Initial support lies at 0.8582.

EURJPY BULLISH Positive momentum; initial resistance is at 114.94, breach of this would expose 115.68 next. Initial support lies at 112.45.

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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