1st of March 2011 - Technical Forex Market Overview

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

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

GBPUSD pressures 1.6299.

EURUSD BULLISH The pair eyes 1.3862 resistance; break of the level would expose 1.3948/74 zone. Near term support is at 1.3705.

USDJPY BEARISH Bearish pressure found support at 81.62 ahead of 81.13. Initial resistance is at 82.52.

GBPUSD BULLISH Upside rally held at upper boundary of the 1.6279/99 resistance zone, a break would open 1.6379. Support is defined at 1.6072.

USDCHF BEARISH Support zone is at 0.9228/00, breach of this would expose 0.8951 next. Near-term resistance at 0.9392.

AUDUSD BULLISH Break of 1.0200 has opened up the way towards 1.0256. Support lies at 1.0088.

USDCAD BEARISH Decline through 0.9745/12 support area has exposes 0.9700. Resistance at 0.9800.

EURCHF BEARISH Support lies at 1.2706, break of this would expose 1.2686 and 1.2592. Near-term resistance is at 1.2958 holds.

EURGBP BULLISH Initial resistance is at 0.8555, move above this level would expose 0.8593. Near-term support lies at 0.8470.

EURJPY BULLISH Rise above 113.46 exposes 114.19, while support lies at 111.96.

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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