31st of March 2011 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
31 March 2011 – 8:00 GMT
Thursday

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

EURCHF pressure on 1.3040.

EURUSD BULLISH Look for a move above 1.4194 to open the way for 1.4249/82 zone, while support at 1.3981 holds.

USDJPY BULLISH The pair targets 83.30 with potential for 83.98 next. Support is at 82.37.

GBPUSD BEARISH Move below 1.5937 would expose 1.5873 Fibonacci level. Resistance is at 1.6142.

USDCHF NEUTRAL Model is neutral; break above 0.9317/69 would favor upside, while a move below 0.9076 would signal further losses.

AUDUSD BULLISH Uptrend is intact; focus is on 1.0400/25 resistance area. Support lies at 1.0205

USDCAD BEARISH Bear trend continues; breach of 0.9668 would expose 0.9584. Initial resistance is at 0.9786.

EURCHF BULLISH Recovery pressures 1.3040; next resistance at 1.3138 ahead of 1.3203. Initial support is at 1.2889.

EURGBP BULLISH Break of 0.8836 would open way to 0.8885 and 0.8942 next. Support is at 0.8740 ahead of 0.8700.

EURJPY BULLISH As long as support at 115.00 holds, look for gains towards 118.34/72 resistance zone.


SCHEDULE

Please visit Fibosignals.com’s Economic Calendar for a schedule of market news and events.

A. White
Analyst at Fibosignals.com

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