25th of July 2011 - Technical Forex Market Overview

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

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


TECHNICAL DATA

EURUSD watch 1.4578 resistance.

EURUSD NEUTRAL A move above 1.4578 would trigger a bull trend, while support lies at 1.4134.

USDJPY BEARISH Initial support lies at 77.41, a move below which would open 76.25, a key low. Resistance is at 79.32.

GBPUSD BULLISH Clearance of 1.6366 would expose 1.6442. Near-term support lies at 1.6121.

USDCHF BEARISH Key support lies at 0.8033, a fall below which would open 0.8000, the psychological level. Resistance is at 0.8278.

AUDUSD BULLISH A move above 1.0889 would open the way towards 1.0953. Support is at 1.0694.

USDCAD BEARISH The pair has support at 0.9423 ahead of 0.9385. Resistance is at 0.9610.

EURCHF BEARISH Recovery found resistance at 1.1888. Focus is back on the downside with initial support at 1.1572 ahead of 1.1496.

EURGBP BEARISH Support is at 0.8757, a break of which would open 0.8705, a key low. Resistance holds at 0.8895.

EURJPY BEARISH While resistance at 113.66 holds, watch for a decline through 111.46 to expose 110.66.


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.