DAILY MARKET COMMENTARY
8 July 2011 – 8:00 GMT
Friday
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Market Analysis Desk
Foreign Exchange Research: www.fibosignals.com/5585/resources.html
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TECHNICAL DATA
EURGBP 89.03 Support.
EURUSD NEUTRAL The near-term directional triggers are at 1.4467 and 1.4215.
USDJPY BULLISH Focus on initial resistance at 81.77, a break here would open 82.23, a key high. Support lies at 80.71.
GBPUSD BEARISH Momentum is negative; a move below 1.5911 would pave the way for losses towards 1.5881, Fibonacci level. Near-term resistance is at 1.6091.
USDCHF NEUTRAL A recovery through 0.8551 would develop bullish conditions, while support lies at 0.8364.
AUDUSD BULLISH Clearance of initial resistance at 1.0790 would open the way towards 1.0889. Initial support lies at 1.0655.
USDCAD BEARISH The break of initial support at 0.9556 would signal further weakness towards 0.9513. Resistance is at 0.9667.
EURCHF NEUTRAL Resistance is at 1.2201, while downside trigger lies at 1.1934.
EURGBP BULLISH The cross bounced back to put focus on resistance 0.9018, a push above which would open 0.9049. Support lies at 0.8903.
EURJPY BULLISH Break of resistance at 117.05 would expose 117.90. Initial support lies at 115.53.
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.
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