Market review for 31.08.2011: The Swiss Franc, the Yen and the US dollar remained supported.

Forex-Metal Daily Market Review and Technical Analysis Send to a Friend |  Visit our website |  Unsubscribe Thu 01  September  2011 Daily review for 31.08, 2011   Market review for 31.08.11: The Swiss Franc, the Yen and the US dollar remained supported. Asian and European trading sessions: Euro: During the Asian session on Wednesday the Euro remained under pressure before the publication of the report on unemployment in the EC. The EUR/USD pair showed session highs at $1.4468, but returned to the $1.4435 zone. The pressure on the Euro increased after the published statistics, which recorded growth of unemployment in the EC in July to a level of 10.0% compared to the previous 9.9%. As a result, the EUR/USD pair dropped to its minimums of $1.4416 during the European trading session. US Dollar: Concerns over slowing down of the economic growth in the Euro zone supported the demand for the safe assets, like the US dollar.   British Pound: The British Pound suffered losses against the background of weak August report on the Consumer Confidence Survey (Gfk) in the UK, which reduced to the level of -31 points, against previous value of -30. The GBP/USD pair marked its lows at $1.6257 area and traded in the range of $1.6257 - $1.6330 during both sessions. Japanese Yen: On Wednesday sessions, the USD/JPY pair traded between the Y76.50 - Y76.70 levels.   American trading session: Swiss Franc: The Swiss Franc grew today, since the National bank of Switzerland restrained from any actions for the first time after the three last Augusts' Wednesdays, where the Central Bank conducted interventions on the currency market for the purpose of holding in control an excessive growth of the Franc. US Dollar: The release of the American ADP index with the private employment change could not allow the US dollar to strengthen more. The employment increased for 91 thousand, while the forecasted change amounted to 100 thousand. At the end of the day the EUR/USD pair reached minimums of $1.4360 and the GBP/USD dropped to $1.6230 level.       technical analysis for 01.09, 2011    EURUSD The pair made an attempt but could not reach 1.46222 and rolling back to support 1.44406. If this level is broken the pair will decline to 1.42996. Resistance:  1.44400, 1.46222, 1.47342 Support:  1.42996, 1.41780, 1.40690 GBPUSD The pair has reached support 1.62050. Resistance:  1.63316, 1.64636, 1.65706 Support:  1.62050, 1.60322, 1.58543 USDCHF The pair has reached 0.80313, if this level is broken the pair will decline to 0.79115. Resistance:  0.81356, 0.82483, 0.83541 Support:  0.80313, 0.79115, 0.77849 USDJPY The pair has declined to the support level at 76.463. If this level is broken the pair will decline to 75.425. Resistance: 77.539, 78.345, 79.070 Support:  76.463, 75.425, 74.414 AUDUSD The pair has risen to the resistance 1.07005. The pair needs to break median line at 1.07005 to be able continue rising, if stays below this level the pair will decline to 1.06164. Resistance:  1.07005, 1.07739, 1.08413 Support:  1.06164, 1.05332, 1.04407             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.