Market review for 19.10.2011: : As the rumours around the agreement between France and Germany on increasing the size of EFSF reinforced, the euro strengthened.

Forex-Metal Daily Market Review and Technical Analysis Send to a Friend |  Visit our website |  Unsubscribe Thu, 20 Oct  2011 Daily review for 19.10, 2011 Market review for 19.10.11: As the rumours around the agreement between France and Germany on increasing the size of EFSF reinforced, the euro strengthened.   Asian and European trading sessions: Euro: During Asian and European trading sessions the euro strengthened against the background of publication of the report regarding the fact that France and Germany have agreed to increase European financial stability Fund up to 2 trillion euros. As a results, the EUR/USD pair showed its daily maximum at around $1.3868 but then retreated.   US Dollar: The dollar stepped back against its competitors amid the falling demand for safe haven assets due to the strengthening of the major stock markets in Europe and Asia and the futures growth on major U.S. stock indices.   British Pound: The pound briefly fell against major currencies after the publication of the protocol of the last meeting of the Bank of England, the GBP/USD pair set its daily lows at $1.5709. The sterling was pressured due to the fact that monetary policy committee members were unanimous in voting for the increase in QE at 75 billion Stg. However, the GBP/USD pair grew today to the area of $1.5746.   American trading session: Euro: Euro decreased to $1.3731 when lawmakers rejected direct guarantees to EFSF fund. Gold: Gold fell today amid reports that France and Germany are close to agreement on increasing the size of EFSF 2 ??trillion euros, which resulted in lower demand for gold as a way to protect capital.   Oil: The closing price for the WTI futures was at $86.2 for a barrel.           technical analysis for 20.10, 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's resistance is 0.91079, if this level is broken the pair will rise to 0.92026. The pair's support is 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 is testing daily channel at 1.02558. If the pair  stays below this level the pair will decline to Fibonacci 23% at 0.98766. 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.