6th of March 2012 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
6 March 2012 – 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 NEUTRAL Focus is on 1.3157, a break below which would open 1.3056. Resistance is at 1.3357 and 1.3487.

USDJPY BULLISH Resistance is at 81.87, a move above which would expose 82.25. Support lies at 81.06.

GBPUSD BULLISH Our focus remains on 1.5993, a clearance of which would reinforce the current trend. Support lies at 1.5786.

USDCHF BEARISH With the resistance at 0.9185 in place, we view the recent bounce as correction. Support lies at 0.9022 ahead of 0.8931.

AUDUSD BULLISH As long as the support at 1.0598 is intact our outlook would remain bullish with resistances at 1.0691 and 1.0744.

USDCAD BEARISH Break below 0.9886 would open the key low at 0.9842. Resistance is at 0.9992.

EURCHF NEUTRAL Resistance is at 1.2084 and support is at 1.2041.

EURGBP NEUTRAL Support lies at 0.8309, the trendline support drawn off the Jan. 9 low, ahead of 0.8265. Resistance is at 0.8354 ahead of 0.8383.

EURJPY BULLISH Resistances are at 108.74 and 109.93 next. Support is at 106.84.


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

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