31st of August 2011 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
31 August 2011 – 8:00 GMT
Wednesday

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

EURGBP 0.8886 key resistance.

EURUSD BULLISH Initial resistance is at 1.4549 ahead of 1.4578; a break above this level would open up 1.4697, the key high from June 7. Near-term support lies at 1.4328.

USDJPY BEARISH Break below 76.34 would signal extension of losses towards the key low at 75.95 ahead of the psychological 75.00 level. Resistance is at 77.02.

GBPUSD NEUTRAL Resistance is at 1.6420 and support lies at 1.6255 ahead of 1.6208.

USDCHF BULLISH Focus is on initial resistance at 0.8278, a move above which would expose 0.8398. Support lies at 0.8041.

AUDUSD BULLISH There is potential for gains towards 1.0786 ahead of 1.0809. Initial support lies at 1.0621.

USDCAD NEUTRAL Resistance is at 0.9817 ahead of 0.9839, while a move below 0.9741 would trigger a bear trend.

EURCHF BULLISH Clearance of initial resistance at 1.1897 would open the way for a move towards 1.1973 ahead of 1.2172. Support lies at 1.1630.

EURGBP BULLISH Resistance at 0.8886 remains intact, a rise through this level would signal further gains towards 0.8915, a Fibonacci level. Initial support is at 0.8795.

EURJPY NEUTRAL Near-term directional triggers are at 111.94 and 110.11.


A. White
Analyst at Fibosignals.com

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