18th of July 2011 - Technical Forex Market Overview

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

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

USDCAD 0.9513 support

EURUSD BEARISH Focus is on initial support at 1.3951, a break of which would favor extension of bear trend and open 1.3837. Initial resistance is at 1.4200.

USDJPY BEARISH The pair targets support at 78.44 Fibonacci level; a break of which would open 76.25, a key low. Resistance is at 79.61.

GBPUSD NEUTRAL Initial resistance is at 1.6254, while support lies at 1.5906.

USDCHF BEARISH Sharp sell-off through 0.8083 has paved the way for losses towards 0.8016 ahead of 0.7836. Resistance is at 0.8276, a
previous low.

AUDUSD NEUTRAL Near-term directional triggers are at 1.0746 and 1.0526.

USDCAD BEARISH Key support lies at 0.9513, a clearance of which would expose 0.9446. Near-term resistance is at 0.9624.

EURCHF BEARISH Decline through 1.1458 has signalled further weakness towards 1.1374 ahead of 1.1056. Resistance is at 1.1650.

EURGBP BEARISH Potential for further downside towards 0.8722, a key low from June 16; next support comes in at 0.8657. Initial resistance is at 0.8847.

EURJPY BEARISH Focus is on initial support at 109.58, a break of which would expose 107.99. Resistance is at 112.95.


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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