3rd of January 2012 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
3 January 2012 – 8:00 GMT
Tuesday

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


TECHNICAL DATA

USDCAD 1.0126 support

EURUSD BEARISH The pair is undergoing correction; decline through the key low of 1.2858 would open the way for losses towards 1.2600. Resistance is at 1.3119.

USDJPY BEARISH Initial support lies at 76.33 ahead of the key low of 75.35. Resistance is at 77.17.

GBPUSD BEARISH Support lies at 1.5469, a break below which would open 1.5402 next. Resistance is at 1.5572 ahead of 1.5728.

USDCHF BULLISH Resistance is at 0.9470, a clearance of which would expose the key high of 0.9548. Support lies at 0.9307.

AUDUSD BULLISH Momentum is positive; our focus is now on 1.0380, a move above which would open 1.0447. Support is at 1.0196.

USDCAD BEARISH Pressure is on 1.0126, a break below this would open 1.0052. Resistance is at 1.0220.

EURCHF BEARISH Initial support lies at 1.2126 ahead of key low at 1.2012. Resistance is at 1.2254.

EURGBP BEARISH Focus is on 0.8303, a push below which would expose 0.8285, January 2010 low. Resistance is at 0.8426.

EURJPY BEARISH Initial support lies at 98.66 ahead of 97.89. Resistance is at 100.00.


SCHEDULE

Please visit our Economic Calendar for a for a schedule of market news and events: http://www.fibosignals.com/5585/calendar.html.

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.