Market review for 24.10.2011: : The EC Summit is in the focus of the market.

Forex-Metal Daily Market Review and Technical Analysis Send to a Friend |  Visit our website |  Unsubscribe Tue, 25 Oct  2011 Daily review for 24.10, 2011 Market review for 24.10.11: The EC Summit is in the focus of the market.   Asian and European trading sessions: Euro: During the Asian trading session the euro continued rising against the US dollar against the background of European leaders' promises that they would agree on an action plan to constrain the EU debt crisis.   The euro was pressured today by the report on business activity in manufacturing and service sectors of the countries of the region and the EU as a whole, which had been published during the European trading session. Even the positive report on the EU industrial orders, which turned to be higher in August than its forecast and annually recorded 6.2 % vs. forecasted 5.8 %, did not support the euro and the EUR/USD pair set its daily lows of the $1.3820 mark.   British Pound: At the beginning of the Asian session the GBP/USD pair grew and renewed this month maximum at the $1.6000 area. Daily range of the pair was between $1.5899 - $1.6068 levels.   Japanese Yen: Today the investors' attention was focused on the Japanese yen. After its growth to a record high against the US dollar on Friday the likelihood of intervention increased. The pair set its daily low at Y75.981 which was close to its August low   American trading session: US Dollar: The demand for the dollar, as a save-heaven currency, decreased. The greenback dropped against the main currencies. Positive corporate reports and commodity prices growth supported this trend.     The Japanese yen maximums were supported by the increased Japanese export volume, which happened to be above its forecast.   technical analysis for 25.10, 2011   EURUSD The pair has returned to Fibonacci level 61% at 1.38871. Resistance:  1.39600, 1.40690, 1.41780 Support:  1.38554, 1.37486, 1.35984 GBPUSD The pair has risen to the Moving Average (200) at 1.60322. Resistance:  1.60322, 1.62050, 1.63316 Support:  1.58543, 1.56722, 1.54842 USDCHF The pair has declined to 0.88418. If the pair stays below this level the pair will continue declining to 0.87214. Resistance:  0.89635, 0.91079, 0.92026 Support:  0.88418, 0.87214, 0.85939 USDJPY The pair is trying to stay below 76.463, this may bring pair to test 75.425. Resistance: 76.463, 77.539, 78.345 Support:  75.425, 74.414, 73.377 AUDUSD The pair has risen to 1.04407, if the pair stays above this level the pair will rise to 1.05332. Resistance:  1.04407, 1.05332, 1.06164    Support:  1.03535, 1.02558, 1.01744         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.