29th of April 2011 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
29 April 2011 – 8:00 GMT
Friday

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

EURGBP stalled at 0.8724/42.

EURUSD BULLISH Rise above 1.4905 would pave the way towards 1.5000 and 1.5038. Support lies at 1.4633.

USDJPY BEARISH Losses held at 81.27, move below this would expose 80.89/69 area. Initial resistance is at 82.79.

GBPUSD BULLISH Initial resistance is at 1.6747, yesterday's reaction high; move above the level would expose 1.6878. Support is at 1.6432.

USDCHF BEARISH While resistance at 0.8893 holds, there is scope for weakness towards 0.8671/65 area.

AUDUSD BULLISH Momentum is positive; break of initial resistance at 1.1000 would expose 1.1017. Near-term support is at 1.0775.

USDCAD BEARISH Focus on 0.9455/46 support area, break of which would open 0.9400 next. Resistance lies at 0.9576.

EURCHF NEUTRAL Model has turned neutral; break of 1.2974 would favor upside, while a move below 1.2730 would signal continuation of the bear trend.

EURGBP BULLISH Stalled ahead of 0.8924/42 resistance area, break through this would open 0.9000 next. Support lies at 0.8847.

EURJPY BULLISH A break above 122.41 would clear the way for a bull run towards 123.33 key resistance. Support lies at 120.00.



SCHEDULE

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A. White
Analyst at Fibosignals.com

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