15th of March 2011 - Technical Forex Market Overview DAILY MARKET COMMENTARY

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

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


TECHNICAL DATA

EURJPY 111.96 key support.

EURUSD BULLISH Upside potential stalled in front of 1.4000/36 resistance area; a break here would expose 1.4086. Near-term support lies at 1.3752.

USDJPY BEARISH Initial resistance defined at 83.30; while support at 80.62 holds, move below this level would open way towards key low at 80.22.

GBPUSD NEUTRAL Resistance is at 1.6200, while support lies at 1.5977/64 area.

USDCHF BEARISH Bearish pressure holds above 0.9236/00 support zone, move below this would expose 0.8951. Initial resistance is at 0.9369 ahead of 0.9421.

AUDUSD BEARISH Break below 0.9944 triggers the bear trend, next support lies at 0.9867. Initial resistance at 1.0107 intraday high.

USDCAD NEUTRAL Recovery through 0.9803 renders the model neutral with next resistance at 0.9902. Support defined at 0.9735 intraday low.

EURCHF NEUTRAL 1.3040 and 1.2827 mark the near-term directional triggers.

EURGBP BULLISH Outlook remains bullish; focus is on through 0.8692 ahead of 0.8777. Near-term support is at 0.8590.

EURJPY NEUTRAL While 111.96 marks the key support, resistance lies at 116.00.


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.