Market review for 16.11.2011:The pound was pressured by the UK labor market report.

Forex-Metal Daily Market Review and Technical Analysis Send to a Friend |  Visit our website |  Unsubscribe Thu, 17 Nov  2011 Daily review for 16.11. 2011 The pound was pressured by the UK labor market report.   Asian and European trading sessions: Euro: The Euro fell against major currencies as well as showed a high volatility against the US dollar on Wednesday. The pressure on the single currency was a result of the speech of the European Commission President Jose Manuel Barroso, who noted that the region was facing a truly systemic crises.   Later the Euro was supported by information that the new prime minister of Italy, Mario Monti presented the new government. As we stated earlier, the Euro showed high volatility to US dollar; its trading  range during the European session was about 120 points and laid between $1.3425 to $1.3548 levels.   US Dollar: The dollar rose against 15 of the 16 major currencies against the search for safe assets by investors. British Pound: The pound dropped after the released statistics which showed unemployment rate growth in Great Britain. In particular, in October the number  increased by 5.3 thousands when the forecast was at 21.0. The GBP/USD pair traded in the $1.5742 - $1.5814 range during the European trading session.   Australian Dollar: The Australian dollar was negatively affected by the report, that showed the reduced growth wages during the 3rd quarter, which was much more dramatic than economists expected.   American trading session: The British pound weakened against the dollar after the Bank of England lowered forecasts for economic growth and inflation, as expected, signaling the introduction of a new fiscal stimulus in the coming months. Oil: The WTI oil futures prices increased by 3.3%, to 102.87 dollars, to its highest level since May 2011.The closing price for the day was $101.73 per barrel.    technical analysis for 17.11, 2011    EURUSD The pair has broken Fibonacci 50%  and aiming to 1.33143. Resistance:  1.34882, 1.35984, 1.37486 Support:  1.33143, 1.31674, 1.30277 GBPUSD The pair has reached 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 pair's aim is 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 has reached support 1.00067 and may roll back to 1.00907. If the pair breaks 1.00907 the pair will rise to 1.01744.  Resistance:  1.00907, 1.01744, 1.02558 Support:  1.00067, 0.99207, 0.98436                             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.