7th of September 2011 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
7 September 2011 – 8:00 GMT
Wednesday

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


TECHNICAL DATA

USDCHF 0.8951 key resistance

EURUSD BEARISH Sell-off through 1.3951 would open the way towards the key low from July 12 of 1.3837 ahead of 1.3752. Initial resistance is at 1.4278.

USDJPY BEARISH Initial support is at 76.43, a break through which would open 75.95, the key low from Aug 19. Resistance is at 77.70 ahead of 78.10.

GBPUSD BEARISH Sharp fall through 1.6006 has exposed support at 1.5906 ahead of the key low from July 12 of 1.5781. Near-term resistance is at 1.6201.

USDCHF NEUTRAL Key resistance is at 0.8951, while support lies at 0.7841.

AUDUSD BULLISH Watch for a move above 1.0666 to expose 1.0765, while support at 1.0445 holds.

USDCAD BULLISH Rise through 0.9969 would open the way for 1.0010. Support lies at 0.9854.

EURCHF NEUTRAL Resistance is at 1.2346 and support lies at 1.1819.

EURGBP NEUTRAL Break above 0.8886 would open 0.8915, while a move below 0.8697 would expose 0.8643.

EURJPY BEARISH Momentum is negative; focus on 106.61, a break here would expose 105.44. Initial resistance is at 110.95.


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.