Market review for 25.10.2011: : The upcoming EU summit is in focus.

Forex-Metal Daily Market Review and Technical Analysis Send to a Friend |  Visit our website |  Unsubscribe Wed, 26 Oct  2011 Daily review for 25.10, 2011 Market review for 25.1011:  The upcoming EU summit is in focus.   Asian and European trading sessions: Euro: During both trading sessions the euro was trading in a narrow range near its six-week high against the US Dollar amid expectations of tomorrow's summit of EU countries. The EUR/USD pair's range was between $1.3850 and $1.3950 zone.   Investors still look forward with caution awaiting a specific plan to constrain the debt crisis in the EU.   New Zealand Dollar: The kiwi dropped today against the US Dollar when the statistics agency of New Zealand reported an increase in the Consumer Price Index in Q3 by 0.4% compared with the previous quarter. This growth was below the average forecast of 11 economists, according to which the index should rise by 0.7%.   Japanese Yen: The USD/JPY pair traded in the range of Y76,02 - Y76,29 during the Asian session. Against the backdrop of decreasing EU Stock markets the pair fell steeply to its daily low of Y75.73 level.   American trading session: US Dollar: The reasons for the US Dollar decrease during the American trading session were the statistics which had been published before the US Stock market opening. Consumer confidence index in October dropped from 45.4 points to 39.8, when it was expected to increase to 46 points; In addition, the S&P/Case-Shiller index of housing prices decreased over the 20 US metropolitan regions.   Canadian dollar: After the Bank of Canada reported that the economy of Canada would grow slower than expected, and kept the interest rate unchanged at 1%, the Canadian dollar fell for the first time in four days against the U.S. dollar.   Gold: Gold strengthened today and closed the day above the $1708 area. Oil: WTI continued raising and set new highs at $94.57 and closed at $92.50 per barrel.   technical analysis for 26.10, 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. If the pair breaks this level the pair will rise to 1.62050. Resistance:  1.60322, 1.62050, 1.63316 Support:  1.58543, 1.56722, 1.54842 USDCHF The pair has broken to 0.88418 and aiming to 0.87214. Resistance:  0.88418, 0.89635, 0.91079 Support:  0.87214, 0.85939, 0.84685 USDJPY The pair has broken 76.463 and aiming to 75.425. Resistance: 76.463, 77.539, 78.345 Support:  75.425, 74.414, 73.377 AUDUSD The pair couldn't stay above 1.04407 and rolling back to 1.03535. If 1.03535 is broken the pair will decline to 1.02558. 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.