Market review for 12.12.2011: The big sell-off day for stock markets. The US Dollar and the Yen strengthened.

Forex-Metal Daily Market Review and Technical Analysis Send to a Friend |  Visit our website |  Unsubscribe Tue, 13 Dec  2011 Daily review for 12.12. 2011   The big sell-off day for stock markets. The US Dollar and the Yen strengthened.   Asian and European trading sessions: Euro: The Euro started out its day with a sharp move lower against the most major currencies in anticipation of auction of Italy's government bonds. The expectations were negative amid spread fears of the debt crisis in EU countries. Also, the pressure on the Euro currency had to do with investors' concerns about the potential consequences from the disagreement between the UK and EU leaders' arrangements on the last Friday's summit. The EUR/USD pair suffered big drop to $1.3182 at the end of the European trading session.   US Dollar: The U.S. dollar strengthened against of most major currencies together with the increased demand for safety assets. Moreover, another reason supported that outgrowth due to the expectations of tomorrow's negative report on Germany's investor confidence. That report could show the reduction in investors' confidence in European economy, which in turn results in increased demand for safe-heaven currencies, like US Dollar and Japanese Yen.   Japanese Yen: The negative dynamics of the major Europe stock markets and increasing demand for currencies with safe haven status supported the yen today. The USD/JPY pair traded around its daily highs of Y77.98 area during both sessions.   American trading session: Euro: At the beginning of the American trading session the Euro currency suffered another nasty spill dropping to its daily lows at $1.3160 area. The reasons for that were the results of the Italian bonds' auctions, which showed the reduction in the demand for it.   US Dollar: Dollar continued strengthening against the majority of currencies, since investors decided to put their money to safety assets, because of the falling American stock indices.   Gold: Today, the Gold prices showed the most significant one-day drop, being under pressure because of strong US dollar, and fell by 3% per cent to $ 1654 per ounce, to its lowest level in three weeks.   Oil: The Oil continued its downtrend which started last week. The closing price of the day recorded $97.8 mark. technical analysis for 13.12, 2011    EURUSD The pair has declined to support level at 1.31674 and may roll back to 1.32505. Resistance:  1.33143, 1.34882, 1.35984 Support:  1.31674, 1.30277, 1.28630 GBPUSD If the pair breaks 1.56722 it may bring pair to 1.58543. Resistance:  1.56722, 1.58543, 1.60322 Support:  1.54842, 1.53482, 1.52063 USDCHF The pair has risen to 0.92949 and rolling back to 0.03069. Resistance:  0.93949, 0.95074, 0.96220 Support:  0.93069, 0.92026, 0.91079 USDJPY The pair has found support at 77.539 and aiming to 78.345. Resistance: 78.345, 79.070, 79.707 Support:  77.539, 76.463, 75.425 AUDUSD The pair may decline to Fibonacci 23% at 0.98771 if stays below 1.00907. 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.