Market review for 05.12.2011: Possible credit rating downgrades of Germany and other five EU countries.

Forex-Metal Daily Market Review and Technical Analysis Send to a Friend |  Visit our website |  Unsubscribe Tue, 06 Dec  2011 Daily review for 05.12. 2011   Possible credit rating downgrades of Germany and other five EU countries.   Asian and European trading sessions: Euro: During the European and Asian trading sessions the euro rose against most major currencies. There were two main reasons for that growth. First reason had to do with the fact that the Prime Minister of Italy, Mario Monti accepted the measures aimed for achieving a balanced budget by 2013 year. The second reason had to do with the reports that the ECB could provide to the IMF 270 billion dollars, which would be directed towards the fight with the debt crisis in the European Union. The EUR/USD pair strengthened at the level of $1.3485. On the other hand, the economic news, which came from Germany were not positive; in particular, the German PMI Index hit 50.4 mark versus forecasted 51.4, but these news did not have a strong influence on the EUR trading. British Pound: The GBP/USD pair  also had a positive trading dynamics and increased to the $1.5670 level during the European session. Japanese Yen: The USD/JPY pair traded today within a very narrow range during the Asian trading session, yet went to check the Y78.10 level and then fell to Y77.77 at the European session.   American trading session: Euro: The Euro experienced a deeply fall against the U.S. dollar after the S & P agency warned of possible downgrades the AAA rating of some European countries, including Germany. Other negative news had to do with the report of Retail Sales in Eurozone, which dropped for the 0.4% in October versus forecasted 0.8%.   British Pound: At the beginning of American session the sterling strengthened against the backdrop of favorable statistics, which showed that the PMI index in the UK service sector amounted to 52.1 points in November, yet was expected to be 50.5 points.   Oil: The WTI Oil futures  closed the day around the 100.68 dollars per barrel at the end of American trading session.   Gold: The Gold futures had negative day and closed it at $1720.13 per ounce.        technical analysis for 06.12, 2011    EURUSD The pair has risen to 1.34882 and rolling back to 1.33143. Resistance:  1.34882, 1.35984, 1.37486 Support:  1.33143, 1.31674, 1.30277 GBPUSD The pair is trading below 1.56722 it may bring pair to 1.54842. Resistance:  1.56722, 1.58543, 1.60322 Support:  1.54842, 1.53482, 1.52063 USDCHF If the pair stays above 0.92026 the pair will rise to 0.93069. Resistance:  0.93069, 0.93949, 0.95074 Support:  0.92026, 0.91079, 0.89635 USDJPY The pair is aiming to 77.539. If this level is broken the pair will continue declining. Resistance: 78.345, 79.070, 79.707 Support:  77.539, 76.463, 75.425 AUDUSD The pair has risen to 1.02558 and if stays below this level the pair will decline to 1.01744. Resistance: 1.02558, 1.03535, 1.04407 Support:  1.01744, 1.00907, 1.00067         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.