10th of March 2011 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
10 March 2011 – 8:00 GMT
Tuesday

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


TECHNICAL DATA

EURJPY 114.19 support.

EURUSD BULLISH Rise through 1.3989 would open up 1.4036/86 area next. Support is defined at 1.3833.

USDJPY NEUTRAL Near-term resistance at 83.07, while support is at 82.21.

GBPUSD NEUTRAL Recovery through 1.6344 required for resumption of uptrend. On the downside, pullback through 1.6126 would expose 1.6072.

USDCHF BEARISH As long as resistance at 0.9392 holds, expect losses towards 0.9262/00 zone ahead of 0.8951 next.

AUDUSD NEUTRAL 1.0202 and 0.9944 mark the near-term directional triggers.

USDCAD BEARISH Currently holds support at 0.9668 ahead of 0.9600. Resistance is defined at 0.9776.

EURCHF BULLISH Support at 1.2788 holds, initial resistance at 1.3040 ahead of 1.3086.

EURGBP BULLISH Move above 0.8636 would open up 0.8654/72 area. Near-term support is at 0.8479.

EURJPY BULLISH As long as the cross maintains above 114.19, expect gains to target 116.00/65 and 118.07.


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.