Market review for 14.09.2011: Moody’s decision to reduce the credit rating of two leading French banks pressured the euro.

Forex-Metal Daily Market Review and Technical Analysis Send to a Friend |  Visit our website |  Unsubscribe Thu 15  Sep  2011 Daily review for 14.09, 2011 Market review for 14.09.11: Moody's decision to reduce the credit rating of two leading French banks pressured the euro.   Asian and European trading sessions: Euro: During the Asian session the euro lost all its previously won positions. The pressure on the Euro was continued due to concerns regarding spreading of the debt crisis in the region. We also need to mention that   Morgan Stanley lowered their forecasts on the EUR/USD pair. Now they expect to see the pair at the level of $1.30 toward the end of 2011 year and at the level of $1.25 in the first quarter of 2012. Also, today's published statistics, which showed the decrease in Industrial Production in the EU in July didn't remain unnoticed and had a bad effect on the trading dynamics of the Euro currency. However, during the European session the Euro strengthened against major currencies amid falling yields of Italian and Spanish bonds, which indicated a decrease in concerns about the situation in the region. The EUR/USD pair traded today in the range $1.35914 to $1.3783.   British Pound: The GBP/USD pair remained under pressure during the Asian session and traded around its daily lows at  $1.5706 area. The report from the UK labour market recorded that the Unemployment rate in the country in August remained unchanged at 7.9%. As a result, it supported  the British Pound and GBP/USD pair rose to the region of $1.5815. Japanese Yen: Support to the yen was rendered by decrease in the basic share indices in Asia and Europe that raised the demand for currencies with the safe heaven status. The USD/JPY pair traded in range of Y76.80 - Y77.10.   American trading session: Oil: Oil prices decreased. The WTI dropped to the $89.21 mark per barrel.   Canadian Dollar: Canadian dollar dropped as a result of the decreased oil prices and concerns that the possible drop of the world economy would have a negative influence on the raw materials.       technical analysis for 15.09, 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's resistance is 0.89635, support is 0.87214. If 0.87214 is broken the pair will decline to 0.85939. 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.