19th of July 2011 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
19 July 2011 – 8:00 GMT
Tuesday

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

USDCAD 0.9669 resistance

EURUSD BEARISH Break below initial support at 1.4014 would pave the way for losses towards 1.3951 ahead of 1.3837, while resistance at 1.4295 holds.

USDJPY BEARISH Violation of initial support at 78.44 Fibonacci level would open 76.25, a key low. Resistance is at 79.61.

GBPUSD NEUTRAL Resistance is at 1.6194, while a decline through 1.5987 would resume the bear trend and expose 1.5939.

USDCHF BEARISH Watch for a break below 0.8033 to signal weakness towards 0.7800, a channel lower drawn off Feb 11 high. Resistance is at 0.8276, a previous low.

AUDUSD NEUTRAL Resistance is at 1.0746, while support lies at 1.0526.

USDCAD BEARISH While resistance at 0.9669 holds; focus on initial support at 0.9513, a key low ahead of 0.9446.

EURCHF BEARISH Decline through 1.1342 would open the way to 1.1106. Initial resistance is at 1.1650.

EURGBP BEARISH Initial support lies at 0.8705, a break of which would expose 0.8657. Resistance is at 0.8847.

EURJPY BEARISH Breach of 110.66 would signal further downside move towards 109.58 ahead of 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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