8th of March 2012 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
8 March 2012 – 8:00 GMT
Thursday

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


TECHNICAL DATA

EURUSD BEARISH Decline through 1.3056 would expose 1.2974. Resistance is at 1.3241.

USDJPY BULLISH Clearance of 81.59 would open 81.87, the month-to-date high. Support lies at 80.59.

GBPUSD BULLISH Our focus remains on upside with resistances at 1.5790 and 1.5883. Support lies at 1.5697.

USDCHF NEUTRAL Resistance is now at 0.9213 ahead of 0.9300, the February rejection high. Support lies at 0.9106 ahead of 0.9022.

AUDUSD NEUTRAL Support is at 1.0509 ahead of 1.0476. Resistance is at 1.0691 ahead of 1.0744.

USDCAD BEARISH As long as the resistance at 1.0052 holds we expect the pair to move below 0.9937 to open 0.9886.

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

EURGBP NEUTRAL Support lies at 0.8314, the trendline support drawn off the Jan. 9 low, ahead of 0.8265. Resistance is at 0.8383 ahead of 0.8410.

EURJPY BULLISH Break above 107.02 would open 108.04 ahead of 108.74. Support is at 105.65.


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.