Market review for 04.10.2011: : Euro reached its 8-months minimum.

Forex-Metal Daily Market Review and Technical Analysis Send to a Friend |  Visit our website |  Unsubscribe Wed, 05 Oct  2011 Daily review for 04.10, 2011 Market review for 04.10.11: Euro reached its 8-months minimum.  Asian and European trading sessions: Euro: The EUR/USD pair showed minimums during the first half of the day at the $1.3150 range. Concerns over the spreading of the European crises pressured investors. Market participants were discouraged by the fact that Euro-zone financial ministers did not confirm any decision regarding the new tranche for Greece. According to the released information, the decision for the new tranche would be accepted after October 13-th.  British Pound: The GBP/USD dropped as well and reached the $1.5380 minimums. Japanese Yen: The USD/JPY pair traded in the range of Y76.55-Y76.75.   American trading session: US Dollar: During the American session major pairs changed its trading dynamics. Euro: The Euro stabilized during the American trading session after the statement of Ben Bernanke, the Head of the FRS, who said that he was ready for additional measures to stimulate the economy. The EUR/USD reached the $1.3350 maximums. Australian Dollar: The Australian dollar decreased against the greenback after the announcement that the Reserve Bank of Australia left the principal rate unchanged at the level of 4.75%.  Gold: Gold prices showed a sharp drop today against the background of the reinforced concerns over the crises in Greece.    technical analysis for 05.10, 2011   EURUSD The pair is trading near Fibonacci retracement 38% at 1.31186. This is a support level for the pair. MACD shows divergence signal and the pair may start corrections in a while. Resistance:  1.33143, 1.34882, 1.35984 Support:  1.31674, 1.30277, 1.28630 GBPUSD The pair may try to test Fibonacci retracement 23% at 1.53482 if stays below 1.54842. Resistance:  1.54842, 1.56722, 1.58543 Support:  1.53482, 1.52063, 1.50594 USDCHF The MACD shows divergence signal and the pair may start corrections if stays below 0.92026. But before corrections the pair may try to test Moving Average (500) at 0.93606. Resistance:  0.92026, 0.93069, 0.93949 Support:  0.91079, 0.88418, 0.87214 USDJPY If the pair stays below 76.463 the pair will decline to 75.425. If the pair stays above 76.463 the pair will rise to 77.539.   Resistance: 77.539, 78.345, 79.070 Support:  76.463, 75.425, 74.414 AUDUSD The pair has found temporary support at 0.94635 and rolled back to 0.95611. Now the pair is aiming to 0.94635. Resistance:  0.95611, 0.96579, 0.97423 Support:  0.94635, 0.93493, 0.92284 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.