Tuesday, October 11, 2011

11th of October 2011 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
11 October 2011 – 8:00 GMT
Tuesday

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

EURUSD NEUTRAL Break above 1.3690 has turned the model neutral. Resistance is at 1.3837 ahead of 1.3937, while support lies at 1.3346.

USDJPY NEUTRAL Initial resistance is at 77.40, top of the bear channel drawn off April 7 high ahead of 77.86. Support lies at 76.50 ahead of 75.95.

GBPUSD NEUTRAL Resistance is at 1.5716/81 area. Support is at 1.5525 and 1.5423.

USDCHF BULLISH Resistance is at 0.9340, a break here would expose 0.9401, a Fibonacci level. Support lies at 0.8919.

AUDUSD NEUTRAL Focus is on 1.0035, a break above which would open 1.0239, a Fibonacci level. Support lies at 0.9728 ahead of 0.9622.

USDCAD BULLISH Initial resistance is at 1.0419 ahead of 1.0483. Key support lies at 1.0144.

EURCHF BULLISH Resistance is at 1.2495, a break above which would open the way towards 1.2646. Support lies at 1.2123.

EURGBP NEUTRAL Resistance is at 0.8750, trendline drawn off July 1 high. Next level is at 0.8795. Support lies at 0.8583.

EURJPY NEUTRAL Near-term directional triggers are at 106.99 and 100.76.


A. White
Analyst at Fibosignals.com

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