forex Free overview (2012/02/02)Free Forex Signal

Technical Analysis(Free Forex Signal)

EUR/USD
Daily maximum: 1.2971
Daily minimum: 1.2922
The pair started New Year with breaching the daily forecast mean at 1.2946 and slipping lower after the EU manufacturing output contracted for the fifth month in a row. Daily Resistance: 1.2992; 1.3043; 1.3087. Daily Support: 1.2897; 1.2853; 1.2802. Daily Bias: Bearish.

EUR/JPY

Daily maximum: 99.81
Daily minimum: 99.44
The euro continued trading in a bearish trend after the manufacturing output shrank for the fifth consecutive month, trading below 100.00 on Monday. Daily Resistance: 100.28; 101.10; 101.51. Daily Support: 99.05; 98.64; 97.82. Daily Bias: Strongly bearish.

GBP/USD
Daily maximum: 1.5542
Daily minimum: 1.5476
The British pound moved downwards today after the UK Prime Minister David Cameron said the economy is vulnerable to the EZ turmoil; the daily market participants’ mean target (1.5509) has been breached. Daily Resistance: 1.5601; 1.5672; 1.5772. Daily Support: 1.5430; 1.5330; 1.5259. Daily Bias: Strongly bearish.

USD/JPY
Daily maximum: 77.10
Daily minimum: 76.90
USD/JPY added to losses today as investors bought safe-haven yens against USD as investors flee to the Japanese currency on debt woes, causing the daily target at 77.07 to breach. Daily Resistance: 77.44; 78.02; 78.31. Daily Support: 76.57; 76.28; 75.70. Daily Bias: Strongly bearish.

USD/CHF

Daily maximum: 0.9411
Daily minimum: 0.9353

The daily market forecast mean at 0.9383 has been pierced on fears the EU economy might commit a recession spreading to the US. Daily Resistance: 0.9426; 0.9470; 0.9512. Daily Support: 0.9340; 0.9298; 0.9254. Daily Bias: Neutral.

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