4th of October 2011 - Technical Forex Market Overview

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

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


TECHNICAL DATA

EURUSD BEARISH Break below 1.3245 has opened support at 1.3089 ahead of the key low at 1.2867. Near-term resistance is at 1.3389.

USDJPY NEUTRAL Initial resistance is at 77.28, while support lies at 76.11.

GBPUSD BEARISH Decline through 1.5433 has opened the key low of 1.5328. Next support is at 1.5251. Resistance is at 1.5666.

USDCHF BULLISH Clearance of 0.9183 has paved the way for 0.9340 and 0.9506. Support lies at 0.8919.

AUDUSD BEARISH Break below 0.9537 has opened 0.9406, channel lower drawn off Aug 1 high, ahead of 0.9331. Initial resistance is at 0.9701.

USDCAD BULLISH Initial resistance is at 1.0569 ahead of 1.0680. Support lies at 1.0352.

EURCHF BULLISH Near-term resistance is at 1.2283 ahead of key resistance area of 1.2346/1.2403. Support lies at 1.2051.

EURGBP BEARISH Pressure is on 0.8530, a key low from Sep. 12; a move below this level would expose 0.8456. Resistance is at 0.8632.

EURJPY BEARISH Clear break below 100.85, channel lower drawn off July 5 high, would open 100.00, a psychological level, ahead of 98.95. Resistance is at 103.23.


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.