3rd of February 2012 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
3 February 2012 – 8:00 GMT
Friday

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


TECHNICAL DATA

EURUSD BULLISH Resistance is at 1.3234 ahead of 1.3386. Support lies at 1.3026.

USDJPY BEARISH Focus is on 75.35, a break here would signal scope for deeper pull back. Resistance is at 76.42.

GBPUSD BULLISH Momentum is positive; resistance is at 1.5883, a move above which would open 1.5947. Support lies at 1.5780.

USDCHF BEARISH Support lies at 0.9115 ahead of 0.9066, the Nov. 30 key low. Resistance is at 0.9250.

AUDUSD BULLISH Pressure is on 1.0765, the Sept. 1 high, a clearance of which would signal scope for gains towards 1.1081. Support lies at 1.0570.

USDCAD BEARISH Near-term support lies at 0.9964 ahead of 0.9892, the October 2011 low. Resistance is at 1.0071.

EURCHF BEARISH Support lies at 1.2032 ahead of 1.2000 while resistance is at 1.2086.

EURGBP BEARISH Initial support lies at 0.8273 ahead of 0.8255. Resistance is at 0.8385.

EURJPY BULLISH Rally through 100.89 would expose 101.58. Support is at 98.92.


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.