4th of July 2011 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
4 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

GBPUSD 1.6119 resistance.

EURUSD BULLISH The break of initial resistance at 1.4653 would open the key level at 1.4697. Support lies at 1.4427.

USDJPY BULLISH A clear break above 81.33 would confirm the bullish conditions and expose 81.77. Initial support lies at 80.27.

GBPUSD BEARISH While resistance at 1.6119 remains intact; focus on support at 1.5970 ahead of 1.5911.

USDCHF NEUTRAL The pair's recovery has turned the model to neutral; key resistance is at 0.8551, while support lies at 0.8400.

AUDUSD BULLISH A break of 1.0775 has exposed resistance at 1.0889 ahead of 1.0953, while support lies at 1.0668.

USDCAD BEARISH Decline through 0.9600 has signaled scope for further losses towards 0.9556 and 0.9505. Near-term resistance is at 0.9651.

EURCHF NEUTRAL Rise through 1.2318 has exposed resistance at 1.2415 ahead of 1.2469. Support lies at 1.2186.

EURGBP BULLISH A break above resistance at 0.9095 would open the way to 0.9150. Support lies at 0.8985.

EURJPY BULLISH Watch resistance at 117.90, a break above which is required to confirm the bull trend and open up 118.38. Support lies at 115.91.


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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