Market review for 30.11.2011: The decision of the Bank of China put strong pressure on the US dollar.

Forex-Metal Daily Market Review and Technical Analysis Send to a Friend |  Visit our website |  Unsubscribe Thu, 01 Dec  2011 Daily review for 30.11. 2011  The decision of the Bank of China put strong pressure on the US dollar.    Asian and European trading sessions: Euro: The Euro currency had a very significant day. At the beginning and most of the second part of the Asian trading session the Euro was down, influenced by news that the agency Standard & Poor's downgraded the credit ratings of 15 world banks. The EUR/USD pair hit $1.3256 point, which was its daily low. The situation had dramatically changed after the report of the Bank China, which reduced the reserve requirements for banks. In particular, the Reserve ratio was reduced by 0.50%. The EUR/USD pair sharply moved up and flew to $1.3531 within 30 min of time. US Dollar:  The news that the Bank of China lowered the reserve requirements for banks had supported the stock market and spurred pressure on the U.S. dollar. As a result, the currency gave back all it's gains  against the major competitors.   British Pound: The GBP/USD pair has also a spectacular sessions and set new daily high at $1.5775. Japanese Yen: The yen fell against most of the 16 major currencies after today's positive news, which caused the decreased demand for "safe-haven" assets. The USD / JPY pair traded in a range of Y77.84-Y78.13 from the beginning of the Asian trading session.     American trading session: As a result of the announced news that the Bank of China lowered the requirements for Bank's reserves the U.S. dollar and Japanese yen sharply declined against their competitors. Indeed, these good news brought some confidence to investors and increased their demand for the risky assets. The Canadian dollar: The Canadian dollar rose after the report which showed that the Canadian economy grew by 3.5 % yearly in the third quarter. These news were ahead of forecasted values. Oil: WTI Oil futures rose to a two-week maximum and increased by 58 cents to 100.36 dollars per barrel at the end of American trading session Gold: The Gold also showed its big move to $1749 from $1702.      technical analysis for 01.12, 2011    EURUSD The pair has risen to 1.34882. Resistance:  1.34882, 1.35984, 1.37486 Support:  1.33143, 1.31674, 1.30277 GBPUSD The pair had declined to support level at 1.56722. The pair may try to rise to the Moving Average (100) 1.58543. Resistance:  1.58543, 1.60322, 1.62050 Support:  1.56722, 1.54842, 1.53482 USDCHF The pair has declined to 0.91079. Resistance:  0.92026, 0.93069, 0.93949 Support:  0.91079, 0.89635, 0.88418 USDJPY The pair is trying to rise to the Moving Average (200) at 78.661. Resistance: 78.345, 79.070, 79.707 Support:  77.539, 76.463, 75.425 AUDUSD The pair has reached Moving Average (100) at 1.01744 and Moving Average (200) at 1.02558. 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.