Market review for 23.11.2011: Fears of the world economy sliding down into a recession supported the dollar.

Forex-Metal Daily Market Review and Technical Analysis Send to a Friend |  Visit our website |  Unsubscribe Thu, 24 Nov  2011 Daily review for 23.11. 2011 Fears of the world economy sliding down into a recession supported the dollar.   Asian and European trading sessions: Euro:  The euro dropped below the $1.3450 level against the U.S. dollar amid expectations that the credit rating of AAA for France could be affected by the released information from the Belgian newspaper De Standard. The source reported that the planned bailout of the Dexia SA bank was not possible, because Belgium did not provide a consistent share of funding.   Another negative reason that threw the  EUR/USD pair to the $1.3375 level was a report, that showed an unexpectedly significant reduction in industrial orders in the EU. In detail, the Septembers' orders fell by 6.4% against the forecasted value of -2.7%   US Dollar: The dollar rose against major currencies against the backdrop of increased demand for safe assets due to the negative dynamics of the world's major stock indices. Stock indices declined due to pessimism that has become dominant in the markets after yesterday's U.S. and China macroeconomic data. The U.S. GDP for third quarter revision recorded 2.0 % level and it was lower than the preliminary data showed (2.5%), and lower than analysts had expected (2,3%). PMI in the manufacturing sector of China in November 2011 fell to 48 points from 51 points in October.   British Pound: The GBP/USD pair showed downtrend from $1.5654 to $1.5552. Japanese Yen:  The yen dropped against the major currencies. The USD/JPY pair increased from Y76.92 to Y77.23. Canadian Dollar: The Canadian dollar grew against most of the major currencies after the release of the Retail Sales report, which grew in September rapidly, and increased the forecasts for the economic growth of the country. Australian Dollar: The Australian dollar was under pressure due to the concerns over the situation in Euro-zone.   American trading session:   Oil: Oil traded around the $95.82 level per barrel. Gold: Gold closed the day at the $1.693 mark per ounce.        technical analysis for 24.11, 2011    EURUSD The pair has broken support and declined to the next support level at 1.33143. If the pair stays above this level the pair will rise to 1.34882. Resistance:  1.34882, 1.35984, 1.37486 Support:  1.33143, 1.31674, 1.30277 GBPUSD The pair has declined to 1.54842 and trying to roll back to 1.56722.  Resistance:  1.56722, 1.58543, 1.60322 Support:  1.54842, 1.53482, 1.52063 USDCHF The pair has risen to 0.92026 and may roll back to 0.91079. Resistance:  0.92026, 0.93069, 0.93949 Support:  0.91079, 0.89635, 0.88418 USDJPY The pair has tested Moving Average (100) at 77.539 and rolling down to 76.463. Resistance: 77.539, 78.345, 79.070 Support:  76.463, 75.425, 74.414 AUDUSD The pair has found support at 0.96579 and rolling back to 0.97423. Resistance: 0.97423, 0.98436, 0.99207 Support:  0.96579, 0.95611, 0.94635                                   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.