Market review for 13.09.2011: European crises is spreading in Europe and the euro stays under pressure.

Forex-Metal Daily Market Review and Technical Analysis Send to a Friend |  Visit our website |  Unsubscribe Wed 14  Sep  2011 Daily review for 13.09, 2011 Market review for 13.09.11: European crises is spreading in Europe and the euro stays under pressure.   Asian and European trading sessions: Euro: The Euro was trading near its maximums during the Asian session. Further strengthening of Euro currency was constrained by fears concerning the further spreading out of the debt crisis in the region. As a result, at the beginning of the European session the EUR/USD pair renewed its decrease and fell to its second day low at $1.3557. In contrast, the discussions about the China's help for Italy supported Euro currency to recover against the dollar and strengthen to its daily highs at $1.3737 area. British Pound: The GBP/USD pair remained in the range of $1.5828 - $1.5868 during the Asian trading session. Later on the speech of one of Bank of England representative, Mr. Posen, had put a negative effect on the dynamics of GBP trading and prevented it from growing over its previous session high. He stated that the Bank of England must make a decision about the new 50- billion purchase of the assets within the next three months. The pair started to fall and showed its daily low at $1.5760. The British pound was prevented from moving even lower by the reports of Retail Price Index, which was more or less concurrent with the forecasts. After this UK Inflation data the British Pound showed a slight increase  and strengthened against the US Dollar. Japanese Yen: Investors continued to accumulate their positions in the Yen. Taking into account the fact that a question of expensive yen was not solved during the G7 summit, the market was surrounded by the rumours that the Bank of Japan may follow the way of the SNB. Oil: Oil established maximum at $90.51and closed at 89.74 per barrel today. Gold: Gold price grew and reached the level of $1834.90 for ounce.   American trading session: New-Zealand Dollar: Market participants are awaiting for the decision of the Reserve Bank of New-Zealand regarding the interest rate in the next 24 hours.   technical analysis for 14.09, 2011  EURUSD The pair has declined to Fibonacci retracement 50% and may roll back to 61% at 1.38554. Resistance:  1.37486, 1.38554, 1.39600 Support:  1.35984, 1.34882, 1.33143 GBPUSD The pair has broken support at 1.58543 and aiming to 1.56722. Resistance:  1.58543, 1.60322, 1.62050 Support:  1.56722, 1.54842, 1.53482 USDCHF The pair is correcting and may decline to 0.87214. Resistance:  0.88418, 0.89635, 0.91079 Support:  0.87214, 0.85939, 0.84685 USDJPY The pair could not break 77.539 and aiming to 76.463. Resistance: 77.539, 78.345, 79.070 Support:  76.463, 75.425, 74.414 AUDUSD The pair has broken 1.02558 and aiming to 1.01744. Resistance:  1.02558, 1.03535, 1.04407 Support:  1.01744, 1.00907, 1.00067   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.