Market review for 13.10.2011: : The US Dollar and the Yen strengthened against major currencies amid growing demand for safe-haven assets.

Forex-Metal Daily Market Review and Technical Analysis Send to a Friend |  Visit our website |  Unsubscribe Fri, 14 Oct  2011 Daily review for 13.10, 2011 Market review for 13/10/2011: The US Dollar and the Yen strengthened against major currencies amid growing demand for safe-haven assets.   Asian and European trading sessions: Euro: After the yesterday's rapid growth associated with the fact that Slovak political parties agreed to approve the extension of the stabilization fund EFSF, the Euro consolidated near the $1.38 level during the first part of Asian trading session. After the published German GDP forecast, which showed a decrease to 0.8% in 2012 versus its growth in 2011 to 2%, the Euro currency fell to $1.370 zone and had recorded its daily low at $1.3685 mark. US Dollar: The US Dollar received a positive impact today from the Chinese news regarding the Chinese Trade Balance in September which confirmed decrease to $14.51B and was much below forecasted $16.30B. The US Dollar was strengthening against the major currencies during today's sessions.   British Pound: The GBP/USD pair traded in the narrow range of $1.5730 - $1.5770 during the Asian trade session. The pair dropped to the level of $1.5682 before the opening American trade session, but later retreated to $1.5750. Japanese Yen: The Japanese yen strengthened against its competitors during both sessions. Australian Dollar: The Australian Dollar grew against the greenback after the Australian unemployment report which showed the 5.2% against the forecasted 5.3% in September.   American trading session: Gold: The strengthening of the US Dollar held in control the demand for the precious metals as alternative assets, therefore the Gold fell today and hit the lows of $1652 per ounce before the beginning of the American trade session. technical analysis for 14.10, 2011 EURUSD The pair is aiming to Fibonacci level 61% at 1.38871.But if the pair stays below resistance 1.37486 the pair will decline to 1.35984. Resistance:  1.37486, 1.38554, 1.39600 Support:  1.35984, 1.34882, 1.33143 GBPUSD The pair has broken 1.56722 and started to work out Double Bottom. The end of the figure is at 1.58543. Resistance:  1.58543, 1.60322, 1.62050 Support:  1.56722, 1.54842, 1.53482 USDCHF The pair has declined to 0.89635. Resistance:  0.91079, 0.92026, 0.93069 Support:  0.89635, 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 is aiming to test Moving Average (100) at 1.02879. But if the pairs stays below 1.01744 the pair will decline to 1.00907. Resistance:  1.02558, 1.03535, 1.04407 Support:  1.00907, 1.00067, 0.99207     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.