DAILY MARKET COMMENTARY
2 March 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
GBPUSD 1.6330 resistance.
EURUSD BULLISH Focus is on 1.3862 break of which would expose 1.3948/74 zone. Near term support is at 1.3705.
USDJPY BEARISH Support defined at 81.62; move below this would expose 81.13. Initial resistance is at 82.24, yesterday's high.
GBPUSD BULLISH Initial resistance at 1.6330, the reaction high defined yesterday, ahead of 1.6379. Support is defined at 1.6145.
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 Pullback through 1.0088 exposes 1.0002. While this holds, expect recovery towards 1.0202 and 1.0256 next.
USDCAD BEARISH Break of 0.9684 would expose 0.9600. 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 1.2893.
EURGBP BULLISH As long as support at 0.8423 holds, expect gains towards 0.8555 ahead of 0.8593.
EURJPY NEUTRAL 114.19 and 111.96 mark the near-term directional triggers.
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.
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