16th of September 2011 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
16 September 2011 – 8:00 GMT
Friday

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


TECHNICAL DATA

EURUSD resistance 1.4022.

EURUSD BEARISH While resistance holds at 1.4022, a Fibonacci level, watch for a fall below 1.3704 to expose 1.3591.

USDJPY BEARISH Break below 76.43 would open up 75.95, the key low. Resistance is at 77.68.

GBPUSD BEARISH Decline through 1.5707 would expose 1.5676. Resistance is at 1.5991.

USDCHF BULLISH As long as support at 0.8540 is intact, a clearance of 0.8854 would open 0.8928 next.

AUDUSD BEARISH Fall through 1.0111 would expose the key low at 0.9928. Resistance is at 1.0478.

USDCAD NEUTRAL The near-term directional triggers are at 1.0027 and 0.9725.

EURCHF NEUTRAL Resistance is at 1.2191, the high from Sept 6. Support lies at 1.2000.

EURGBP NEUTRAL Rise through 0.8886 would trigger a bull trend while a pull back through 0.8639 would signal resumption of bear trend.

EURJPY BEARISH Initial support is at 104.55 ahead of 103.90. Resistance is at 108.00.


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.