Market review for 07.09.2011: The US Dollar stepped back against the background of an increase in the stock markets.

Forex-Metal Daily Market Review and Technical Analysis Send to a Friend |  Visit our website |  Unsubscribe Thu 08  Sep  2011 Daily review for 07.09, 2011 Market review for 07.09.11: The US Dollar stepped back against the background of an increase in the stock markets.   Asian and European trading sessions: Euro: The Euro strengthened on the backdrop of the report, which showed a significant increase in industrial production in Germany from July. Indicator grew by 4.0% in July against the forecasted value of +0.5% and previous -1.0%  in  June. The EUR/USD pair rose from $1.4008 to its daily high at $1.4150, then rolled back to $1.4050. US Dollar: After 6 days of growth, the US Dollar fell against the Euro and other major currencies. The greenback also decreased amid the growing stock markets around the world and reduced demand for currencies with the "safe haven" status. Another factor which pressured the US Dollar was speculations that Fed Chairman Ben Bernanke would express his willingness to continue stimulate the U.S. economy in his tomorrow speech. British Pound: The GBP/USD pair was trading in range of $1.5935 to $1.6015, however, the pair established its daily high at $1.6038 during the European trading session. Japanese Yen: The USD/JPY pair initially dropped to Y77.06 from its highs around the Y77.70 area. Then, during the European trading session, the pair had shown a correction and remained trading between Y77.10 and Y77.36 levels. Australian Dollar: According to statistics, the Australian GDP grew by 1.2% against analysts forecasts of 1%. As a result of this report, the Australian Dollar grew against all major currencies. Oil: The October's Oil added 79 cents to its price and rose to $86.81 for a barrel. Gold: Today, the price of Gold marked its daily low at $1,793 per ounce.   American trading session: Canadian Dollar: The Canadian dollar held its positions against the greenback after the Bank of Canada has kept its interest rates unchanged today.       technical analysis for 08.09, 2011   EURUSD The pair is trying to recover and if 1.40690 is broken the pair will rise to 1.41780.   Resistance:  1.40690, 1.41780, 1.42996   Support:  1.39600, 1.38554, 1.37486   GBPUSD The pair is aiming to 1.58543.   Resistance:  1.60322, 1.62050, 1.63316   Support:  1.58543, 1.56722, 1.54842   USDCHF The pair's resistance is 0.85939, support 0.84685.   Resistance:  0.85939, 0.87214, 0.88418   Support:  0.84685, 0.83541, 0.82483   USDJPY The pair's resistance is 77.539. The pair's support is at 76.463.   Resistance: 77.539, 78.345, 79.070   Support:  76.463, 75.425, 74.414   AUDUSD The pair is aiming to 1.05332.   Resistance:  1.06164, 1.07005, 1.07739   Support:  1.05332, 1.04407, 1.03535     Useful Links Discuss currency news with other traders in FX2Day forum: https://fx2day.net/forum/mvnforum/index Download free demo platform: https://forex-metal.com/home/download Ready to open a real account to start trading? You can do it here: https://forex-metal.com/accounts/new Did you know that you can earn commission simply for referring a friend to us? There are 3 commission options you can choose from. To learn more please visit our Introducing Brokers page: https://forex-metal.com/broker_inquiries/new Watch our new commercial at YouTube: http://www.youtube.com/watch?v=o0fQEydv-3M Open Account |  Economic Calendar |  PIP Value Calculator |  Forex for Beginners   Forex Metal T: 1-866-464-0944 F: 1-800-689-8298 E: info@forex-metal.com You are receiving this e-mail because you have subscribed to free daily FX news via Forex-Metal.com website. If you do not want to receive any e-mail messages from us please send a message to support@forex-metal.com with UNSUBSCRIBE in the subject line. Please do not reply to this newsletter.