4th of January 2011 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
4 January 2011 – 8:00 GMT
Tuesday

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


TECHNICAL DATA

USDCAD 0.9889/25 support zone.

EURUSD BULLISH Momentum is positive; break of 1.3425 would expose1.3499. Support at 1.3251.

USDJPY BEARISH The outlook remains bearish; focus is on 80.93 ahead of 80.54. Resistance is at 84.51.

GBPUSD BEARISH Support zone 1.5297/65 holds while initial resistance at 1.5665.

USDCHF BEARISH Bearish outlook remains; focus is on 0.9301 ahead of 0.9202; initial resistance is at 0.9734.

AUDUSD BULLISH Bull trend is intact; focus is on 1.0256 resistance while support lies at 0.9951/18.

USDCAD BEARISH Bearish outlook; targets 0.9889/25 support zone. Initial resistance is at 1.0008.

EURCHF BEARISH Outlook remains bearish; break of 1.2402 would expose 1.2283; resistance at 1.2714.

EURGBP BULLISH Upside momentum with focus on 0.8692, a break here exposes 0.8777. Support at 0.8503.

EURJPY BEARISH Support holds at 107.61, break here would expose 105.80. Resistance at 110.82.

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.