1st of November 2011 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
1 November 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 BULLISH Resistance is at 1.4171, a break here would open 1.4215, the former trendline support. Initial support is at 1.3704.

USDJPY BULLISH Resistance is at intraday high of 78.99 ahead of 79.53. Support lies at 77.43.

GBPUSD BULLISH Initial resistance is at 1.6167, a break above this level would expose 1.6203. Support lies at 1.5955.

USDCHF BEARISH Support is at 0.8568, a move below which would open 0.8514, the 50% retrace of the 0.7712-to-0.9316 rally. Resistance is at 0.8825/78 area.

AUDUSD BULLISH Near-term resistance is at 1.0567, intraday high, ahead of 1.0765, a key high from Sept 1. Support lies at 1.0313.

USDCAD BEARISH A break below 0.9892 would expose 0.9766. Resistance is at 1.0073.

EURCHF BEARISH Focus is on 1.2123, a break below which would confirm the bear trend and expose 1.2012. Resistance is at 1.2288.

EURGBP BEARISH Break below 0.8583 would expose the key low of 0.8530. Resistance is at 0.8784.

EURJPY BULLISH Resistance is at 109.24, intraday high, ahead of 111.94, key high from Aug 29. Near-term support is at 106.55.


A. White
Analyst at Fibosignals.com

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