Market review for 15.11.2011: The Euro continues its downtrend. The U.S. economic stats contributed to the increase of U.S. Dollar.

Forex-Metal Daily Market Review and Technical Analysis Send to a Friend |  Visit our website |  Unsubscribe Wed, 16 Nov  2011 Daily review for 15.11. 2011 The Euro continues its downtrend. The U.S. economic stats contributed to the increase of U.S. Dollar.   Asian and European trading sessions: Euro: The Euro fell against the major currencies amid expectations of an auction for Spain Government bonds. Furthermore, the pressure on Euro increased as a result of the reinforced concerns that Italy and Greece would be able to handle the existing debt problems.   The released publication of the indices of the business environment of the ZEW institute in Germany and in the EU as a whole.  The values ??of both indicators for November were significantly worse than expected: Index of economic expectations fell compared to October by 7.9 points to -59.1 points and ZEW in November dropped to 34.2 points versus forecasted 32.0 points. The EUR/USD pair had a definite down day setting new lows at $1.3512 during the European trading session.   US Dollar: The U.S. dollar  rose against its main competitors. However, it did not grew much against the Japanese Yen despite the remaining expectations about the currency intervention by National Bank of Japan.   British Pound: The GBP/USD pair continued its yesterday downtrend and renewed new lows falling to the $1.5812 area. Japanese Yen: The European session passed in the relatively narrow range for USD/JPY. At the beginning of the Asian session the pair briefly strengthened at the Y77.50 area, but fell back later. The continued tension with respect to the debt crisis of the euro area still supported the demand for yen. The couple traded around Y77, 00 level during the rest of the day.   American trading session: Canadian Dollar: Canadian currency fell against the background of Oil prices reduction. New Zealand and Australian dollar also continued to fall for the second consecutive day, amid concerns about the situation in Europe, which showed the decrease in demand for risky assets.               technical analysis for 16.11, 2011     EURUSD The pair has broken Fibonacci 50%  and aiming to 1.33143. Resistance:  1.35984, 1.37486, 1.38554 Support:  1.34882, 1.33143, 1.31674 GBPUSD The pair has reached Moving Average (500) at 1.57826 and aiming to test support level at 1.56722.  Resistance:  1.58543, 1.60322, 1.62050 Support:  1.56722, 1.54842, 1.53482 USDCHF The pair has reached 0.92026. The pairs aim to test Moving Average (500) at 0.93069.  Resistance:  0.92026, 0.93069, 0.93949 Support:  0.91079, 0.89635, 0.88418 USDJPY The pair has broken 77.539 and aiming to 76.463. Resistance: 77.539, 78.345, 79.070 Support:  76.463, 75.425, 74.414 AUDUSD The pair's support is 1.00907. Resistance 1.01744. If the pair breaks support 1.00907 the pair will decline to 1.00067. Resistance:  1.01744, 1.02558, 1.03535 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.