5th of January 2011 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
5 January 2011 – 8:00 GMT
Wednesday

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

EURCHF support at 1.2402.

EURUSD BULLISH Momentum is positive; break of 1.3433 would expose 1.3499. Support at 1.3216.

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

GBPUSD NEUTRAL The 1.5345 support remains intact, a break here is required to confirm a resumption of the bear trend. Resistance is at 1.5775.

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

AUDUSD BULLISH Momentum is slowing; targets 0.9988 ahead of 0.9951/18 while resistance is at 1.0256.

USDCAD BEARISH Bearish outlook; targets 0.9889/25 support zone. Initial resistance is at 1.0073.

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

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