Market review for 31.01.12: The unemployment in the EU reached the record level of 10.4%.

Forex Metal Daily Newsletter Send to a Friend |  Visit our website |  Unsubscribe Wednesday, 01 Feb 2012 Daily review for 31.01, 2012 The unemployment in the EU reached the record level of 10.4%.   Asian and European trading sessions:   Euro: During the European session, the euro strengthened against the U.S. dollar to $1.3196 level. The support for the Euro currency was provided by the speech of the Prime Minister of Greece Mr. Papademos Lucas, who expressed his hope that an agreement with the European Union, the European Central Bank and the International Monetary Fund can be achieved by the end of the week. At the European trading session the Euro was pressured by the macroeconomic data, which was worse than expected and, therefore, reduced demand for risky assets.  In particular, German retail sector reported decrease in sales by 0.9% and unemployment in the EU even matched the level of forecasts, but at the same time reached record levels for the region of 10.4%. The EUR / USD pair showed high above $ 1.3210 at the beginning of the session, but then dropped to lows of $1.3160.   US Dollar: In his speech the Greece Prime Minister Papademos pointed out that the in negotiations with private creditors is in a positive progress. This news provided some support for the risky assets and reduced demand for the U.S. dollar as a currency with a "safe haven" status.   British Pound: The GBP/USD pair traded today in uptrend range of $1.5713 to $1.5786 during both sessions and recorded its European trading session's maximum by reaching several times the level of $1.5792.     American trading session: US Dollar: The U.S. dollar boosted against its competitors after a weak report on S&P/Case-Shiller price index, which was reduced in November by 3,7% with expectations of -3,2%.   Oil: The oil prices had a quite volatile day. They fell after strong growth against a background of adverse macro in U.S., then rose to 101.24 dollars and finally, dropped to 98.08 dollars per barrel.     Gold: The cost of February's Gold futures on COMEX grew today to 1747.48 dollars for the ounce.        TECHNICAL ANALYSIS for 01.02, 2012  EURUSD The pair has declined to 1.30277. If the pair stays above this level the pair will rise to 1.33143. Resistance:  1.31674, 1.33143, 1.34882 Support:  1.30277, 1.28630, 1.25690 GBPUSD The pair has MACD convergence that may support pair to start upwards corrections. The pair is aiming to 1.58543. Resistance:  1.58543, 1.60322, 1.62050 Support:  1.56722, 1.54842, 1.53482 USDCHF The pair has found support at 0.91079 and rolling back to Moving Average (500) at 0.93069. Resistance:  0.93069, 0.93949, 0.95074 Support:  0.92026, 0.91079, 0.89635 USDJPY The pair has broken support 76.463 and aiming to 75.425. Resistance: 76.463, 77.539, 78.345 Support:  75.425, 74.414, 73.573 AUDUSD The pair has broken triangle and aiming to 1.07005. Resistance: 1.07005, 1.07739, 1.08413 Support: 1.06164, 1.05332, 1.04407         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.