Market review for 09.05.12: The Euro fell on fears of a possible new round of the dept crisis in Europe.

Forex Metal Daily Newsletter Send to a Friend |  Visit our website |  Unsubscribe Thursday, 10 May 2012 DAILY REVIEW  for 09.05, 2012   The Euro fell on fears of a possible new round of the dept crisis in Europe.   Asian and European trading sessions:     Euro: The Euro continued falling on fears of investors regarding the political situation in Greece where the political parties still could not manage how to form a new government. The fears also were based on increasing the probability that the country can reject the cost-saving measures or even leave the euro zone. The EUR / USD pair traded slightly higher at the Asian session, however, dropped steeply at the beginning of the European session to new lows of $ 1.2930 area     U.S. Dollar: On the backdrop of increasing demand for safe-haven assets due to the fears based on probability the dollar raised against most major currencies. The Dollar Index recorded a new high today, the 80.39 level.   British Pound: The GBP / USD pair declined to new lows of $1.6097 at the beginning of the European trading session. The reason why the pound was falling against its competitors was the anticipation of tomorrow's meeting of the Bank of England. The recent disappointed report on UK's GDP might raise the expectations of market participants on further measures of the Bank of England of stimulating the British economy. The GBP / USD pair continued its downtrend to new lows of $ 1.6065.     Japanese Yen: The Yen was in demand today on fears that the global economic recovery may be slow than expected. The USD / JPY pair fell towards yesterday's lows at the Asian session and continued its downtrend on European session breaking the support at Y79.60 level and falling to the area of ??Y79. 41     Australian dollar: The Australian dollar fell again, now because the information which the country's Prime Minister, Ms. Julia Gillard revealed to the publicity today saying that, "if the country's budget will be in profit again, it will give the central bank "maximum space " to change the level of interest rates.       American trading session:   Canadian Dollar: On the backdrop of falling Oil prices, due to a six-day decline and a record level of growth of amount of Oil in the U.S. inventories, the Canadian dollar fell to a three-month low against the U.S dollar.     Gold: The cost of the June gold futures on the COMEX fell today by 0.83 % to $ 1578.67per troy ounce on the backdrop of investor's escaping from risky assets. The Gold continued its three-day decline against the strong the dollar. On the American session the Gold prices showed some strength pulling back to the lows of previous day, the region of $1596 per troy ounce.     Oil: The US Department of Energy reported that the amount of Oil contains in inventories grew by 3.65 million barrels to 379.5 million barrels, which hit a maximum level since August 1990, its highest level in nearly 22 years. The cost of June futures on U.S. light crude oil WTI fell by almost 2% on the NYMEX to the level of $ 95.21 at the beginning of the session yet later was able to recover to the region of 96.87 per barrel.    ______________________________________________________________________   TECHNICAL ANALYSIS for 10.05, 2012   EURUSD The pair has reached neckline of Triple Top and if stays below 1.30277 the pair will workout the figure, the end maybe expected at 1.26897, after breaking 1.28630. Resistance:  1.30277, 1.31674, 1.33143 Support:  1.28630, 1.26897, 1.25690 GBPUSD The pair stays below 1.62050, if the pair stays below this level the pair will decline to 1.60322. Resistance:  1.62050, 1.63316, 1.64636 Support:  1.60322, 1.58543, 1.56722 USDCHF The pair has broken triangle's upper line and reached Moving Average (500) at 0.92842, but left unclosed gap at 0.91835. Resistance:  0.93069, 0.93949, 0.95074 Support:  0.92026, 0.91079, 0.89635 USDJPY The pair is aiming to break Moving Average (200) 79.707,this may lead pair to 79.070. Resistance: 80.438, 81.399, 82.219 Support:  79.707, 79.070, 77.539 AUDUSD The pair has reached the median line at 1.00907. If the pair stays above 1.00907 the pair will rise to 1.01744. Resistance:  1.01744, 1.02558, 1.03535 Support: 1.00907, 1.00067, 0.99207         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. 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