Market review for 18.10.2011: : Europe may need more time to solve the problem of sovereign debt.

Forex-Metal Daily Market Review and Technical Analysis Send to a Friend |  Visit our website |  Unsubscribe Wed, 19 Oct  2011 Daily review for 18.10, 2011 Market review for 18.10.11: Speculations regarding possible credit rating reduction of France pressure the euro. Asian and European trading sessions: Euro: Concerns over the EC sovereign debt pressured the euro yesterday, and today the euro managed to grow against the US dollar and the Japanese yen. At the same time, speculations regarding possible credit rating reduction of France pressured the euro on Tuesday. As a result, the EUR/USD pair showed minimums in the range of $1,3657. US Dollar: The decrease of the main stock indices supported the greenback and the yen, as save-heaven currencies. British Pound: The GBP/USD pair traded in the narrow range of 1.5730 - 1.5787 during the Asian trading session, and set its daily high during the European session at 1.5820. Japanese Yen: Both sessions showed the same trading range of Y76.65 - Y76.85. Gold: The gold closed at the $1657 mark per ounce. American trading session: Euro: Euro managed to rehabilitate after the announcement of the German Chancellor, Angela Merkel, stated that the European leaders' Summit planned for October 23-d, could offer the support plan for the European union. As demand for the high-risk assets increased, the Australian, New-Zealand and Canadian dollars grew.     technical analysis for 19.10, 2011   EURUSD The pair has tested Fibonacci level 61% at 1.38871 and rolled back to 1.37486. The pair may continue declining to 1.35984. Resistance:  1.38554, 1.39600, 1.40690 Support:  1.37486, 1.35984, 1.34882 GBPUSD The pair has worked out Double Bottom. If the pair stays above support 1.56722 the pair will rise to 1.58543. Resistance:  1.58543, 1.60322, 1.62050 Support:  1.56722, 1.54842, 1.53482 USDCHF The pair has declined to 0.89635. If this level is broken the pair will decline to 0.88418. 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 has tested Moving Average (100) at 1.02879. 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.