11th of July 2011 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
11 July 2011 – 8:00 GMT
Monday

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


TECHNICAL DATA

EURCHF 1.1806 key support

EURUSD BEARISH Focus is on 1.4103, a break below which would expose 1.4074. Resistance is at 1.4375.

USDJPY BULLISH Initial resistance is at 81.77, a break of which would expose 82.23. Near-term support lies at 80.27.

GBPUSD BEARISH While resistance at 1.6141 holds, watch for a break below 1.5911 to expose 1.5881, Fibonacci level.

USDCHF BEARISH Momentum is negative; a break of initial support at 0.8306 would open 0.8276, a key low. Key resistance is at 0.8551.

AUDUSD BULLISH Focus on initial resistance at 1.0790, a move above which would open the way towards 1.0889. Initial support lies at 1.0655.

USDCAD BEARISH Initial support lies at 0.9556, a break here would open 0.9513. Resistance is at 0.9705.

EURCHF BEARISH Sharp sell-off through 1.1934 has paved the way for further downside towards 1.1806. Resistance is at 1.2172.

EURGBP NEUTRAL Resistance is at 0.9001, while initial support lies at 0.8826 ahead of 0.8807.

EURJPY BEARISH Decline through 114.50 has opened the way to 113.78 and 113.42. Initial resistance is at 116.81.


SCHEDULE

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

A. White
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.