Market review for 11.01.12: The growing concerns of possible distribution of debt crisis in Europe were supportive for US dollar.

Forex Metal Daily Newsletter Send to a Friend |  Visit our website |  Unsubscribe Thursday, 12 Jan 2012 Daily review for 11.01, 2012 The growing concerns of possible distribution of debt crisis in Europe were supportive for US dollar.   Asian and European trading sessions: Due to growing concerns of possible distribution of debt crisis in Europe, the euro fell against the dollar as well as against the others major currencies. Market participants still fear that the current crisis will cause a slowdown in the economy of the region. The EUR / USD pair decreased below $ 1.2700 and recorded its low of $1.2682 at the end of European trading session.   US Dollar:  Growth of the U.S. dollar was limited amid of tomorrow's publication of data on inflation in China. The expected decrease of inflation in China might force central banks of Asian countries to stimulate growth of China, the second largest economy in the World.   British Pound: At the European trading session the British currency steeply dropped against all its major competitors excluding the Euro. The GBP / USD pair fell below $ 1.5400 and recorded its lowest session level at the $1.5367 area.     Japanese Yen: The USD / JPY pair showed positive dynamics hitting a level of Y77.00 during the European trading session.   American trading session: US Dollar:  The fact of investing in safe assets when it comes to uncertainty in situation in economy was also proved today. The U.S. currency rose against most major currencies as investors invested in U.S. government bonds as well as in US dollar.   Euro: The rumors and speculations that the credit rating agencies may downgrade the credit rating of France amid the deterioration of the debt crisis in Europe pressured the Euro currency at the American trading session.     British Pound: The pound continued its downtrend falling to $1.5319 level against the US dollar.   Oil: Due to increased demand for relatively safe assets, the February futures price of U.S. light crude oil WTI declined to $ 100.81 per barrel, setting the session low at $ 100.54 per barrel.   Gold: On Tuesday, gold tried to overcome $ 1644 per troy ounce level, the level of its 200- day moving average Finally, it set the $1.642.19 value by the end of the day.         TECHNICAL ANALYSIS  for 12.01, 2012   EURUSD The pair has found support at Fibonacci 23% at 1.26430. If the pair stays above this level the pair will rise to Fibonacci 38% at 1.31150. If the pair breaks 1.26430 the pair will drop to 1.23907. Resistance:  1.28630, 1.30277, 1.31674 Support:  1.26897, 1.25690, 1.23907 GBPUSD The pair is trying to break support 1.53482 it will bring the pair to test 1.52063. Resistance:  1.54842, 1.56722, 1.58543 Support:  1.53482, 1.52063, 1.50594 USDCHF On daily graph MACD divergence which might be a signal of future corrections. If the pair stays below 0.95074 the pair will decline first to the Moving Average (500) at 0.93069. Resistance:  0.95074, 0.96220, 0.97427 Support:  0.93949, 0.93069, 0.92026 USDJPY The pair is trying decline to 76.463. If this level is broken the pair will continue declining to 75.425. Resistance: 77.539, 78.345, 79.070 Support:  76.463, 75.425, 74.414 AUDUSD The pair is trading in the triangle. The triangle's upper level is 1.04407 (figure resistance), lower level is 0.99207 (support). Resistance: 1.03535, 1.04407, 1.05332 Support: 1.02558, 1.01744, 1.00907               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.