3rd of May 2012 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
3 May 2012 – 8:00 GMT
Thursday

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

EURUSD BEARISH The first target support is at 1.3105, a break below this level would open 1.3058. Near-term resistance is at 1.3241.

USDJPY BEARISH Support is offered by the significant area at 79.64/53, a break below would expose 79.14. Resistance is at 80.71.

GBPUSD BULLISH Resistance is at 1.6248; a break above would reinforce the bull trend and expose 1.6302. Near-term support lies at 1.6112 ahead of 1.6054.

USDCHF NEUTRAL Key resistance is at 0.9252, while support lies at 0.9043 ahead of 0.9002.

AUDUSD BEARISH The pair is approaching the important support area at 1.0260/26. Resistance is at 1.0430.

USDCAD BEARISH Near-term support lies at 0.9800; a break here would be an important bearish event and extend weakness towards 0.9766. Resistance is at 0.9905.

EURCHF NEUTRAL Resistance is at 1.2070, while support lies at 1.2000.

EURGBP BEARISH Trend conditions remain bearish, support focus is on 0.8068. Resistance is at 0.8163.

EURJPY BEARISH The cross is under pressure, targets the key support offered at 104.61/24. Resistance is at 106.55.


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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