Thursday, October 06, 2011

6th of October 2011 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
6 October 2011 – 8:00 GMT
Thursday

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

EURUSD BEARISH Initial support is at 1.3146, a break below which would expose 1.3047, a Fibonacci level. Near-term resistance is at 1.3601.

USDJPY NEUTRAL Near-term directional triggers are at 77.86 and 75.95.

GBPUSD BEARISH Support lies at 1.5328, a key low from Sep. 22, a move below which would open 1.5251. Resistance is at 1.5597.

USDCHF BULLISH Momentum is positive; resistances are at 0.9340 and 0.9401. Near-term support lies at 0.9078.

AUDUSD BEARISH Decline through 0.9388 would expose 0.9218. Resistance is at 0.9810.

USDCAD BULLISH Resistance is at 1.0572, a break above which would open 1.0658. Support lies at 1.0257.

EURCHF BULLISH The cross is testing 1.2346/1.2403 resistance area; a clear break above this area would open 1.2646 next. Support lies at 1.2123.

EURGBP BEARISH Key support lies at 0.8530 ahead of 0.8456. Resistance is at 0.8711.

EURJPY BEARISH Break below 100.76 would expose the psychological level of 100.00. Resistance is at 103.23 ahead of 104.48.


A. White
Analyst at Fibosignals.com

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