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Market review for 26.01.12: The U.S. dollar was traded lower against almost all of its major competitors.

2012-01-27T05:33:00.000-08:00

Forex Metal Daily Newsletter

Daily review for 26.01, 2012

The U.S. dollar was traded lower against almost all of its major competitors.

Asian and European trading sessions:

Euro: During the Asian trading session the EUR/USD pair traded in range $1.3094-$1.3132. Although, the Euro recorded today its new monthly high of $1.3182 during the European session, its growth was limited. The confidence of market participants that Greece government and private lenders will not be able to reach an agreement on Greek debt was pressuring the Euro currency. The EUR/USD retreated to $1.3150 level.

US Dollar: The U.S. dollar was traded lower against almost all of its major competitors during both sessions on the background of yesterday's decision of FOMC regarding the interest rate. The committee decided to leave the interest rate unchanged at 0, 25% value and stated that this rate is going to be kept till 2014 year.

British Pound: The GBP / USD traded today positively showing its growth to $ 1.5716.

Japanese Yen: The USD / JPY pair continued it's down trade which was started yesterday and dropped to Y77.40 level at the European trading session.

American trading session:

Oil: Today, the March's WTI (Light Sweet Crude Oil) futures grew to 101.32 dollars per barrel and closed at $99.84 mark.

Gold: The February gold futures on the COMEX rose today to the 1719.20 dollars per ounce.

Canadian dollar: For the first time since November, the Canadian dollar strengthened to parity with the U.S. dollar.

New Zealand dollar: Even though, the New Zealand country's central bank left its key interest rate at record low, the New Zealand dollar continued its four-day up trend.

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Market review for 25.01.12: FOMC kept the interest rate unchanged, in the range of 0% -0.25 %

2012-01-26T07:37:00.000-08:00

Forex Metal Daily Newsletter

Daily review for 25.01, 2012

FOMC kept the interest rate unchanged, in the range of 0% -0.25 %

Asian and European trading sessions:

Euro: During the Asian session the EUR / USD the pair traded in a narrow range of $ 1.3015 -$ 1.3049. The European trading session showed its decline to $1.2930 level where the couple found its low of the daily. The confidence of market participants that Greece and private lenders will not be able to reach an agreement on debt relief fell along with the euro currency The Euro dropped against its major competitors.

British Pound: The GBP / USD couple retreated from yesterday's highs during the Asian session. The pound fell after the report of GDP in Britain, which showed decrease in the 4th quarter by 0.2 % when expectations of a decline were by only 0.1%. The GBP / USD pair recorded its daily low reaching at $ 1.5530.

Japanese Yen: The yen fell against all 16 major currencies after Japan, for the first in 31 years, reported a deficit of annual trade balance in 2011. In details, in 2011 Japan had a deficit of $ 205.1 billion yen. The USD / JPY pair grew to the level of Y78.32 at the European session.

American trading session:

US Dollar: The dollar fell to a new low against the euro and recorded the area of $1.3118 after FOMC of the U.S kept the interest rate in the range of 0% -0.25 % which meant unchanged. According to comments of Federal Reserve on its decision, the interest rate would not be changed at least until the end of 2014.

Oil: The cost of the March futures on U.S. light crude oil WTI rose to 99.77 dollars per barrel.

Gold: Gold prices broke very important level of $1680 and rocketed to a new $ 1712 per troy ounce after FOMC announce a report on interest rate in US.

TECHNICAL ANALYSIS FOR 26.01, 2012

EURUSD

The pair has found support at Fibonacci 23% and aiming to the next Fibonacci level 38% at 1.31150 and the pair may rise to 1.31674.

Resistance: 1.31674, 1.33143, 1.34882

Support: 1.30277, 1.28630, 1.26897

GBPUSD

The pair has MACD convergence that may support pair to start upwards corrections. First aim is at 1.54842, the second level at 1.56722.

Resistance: 1.56722, 1.58543, 1.60322

Support: 1.54842, 1.53482, 1.52063

USDCHF

On daily graph MACD divergence which might be a signal of downwards corrections. The aim of correction can be at Moving Average (200) at 0.90279.

Resistance: 0.93069, 0.93949, 0.95074

Support: 0.92026, 0.91079, 0.89635

USDJPY

The pair's resistance 78.345, support 77.539.

Resistance: 78.345, 79.070, 79.707

Support: 77.539, 76.463, 75.425

AUDUSD

The pair has broken triangle and has risen to 1.06164.

Resistance: 1.06164, 1.07005, 1.07739

Support: 1.05332, 1.04407, 1.03535

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Market review for 24.01.12:The Bank of Japan lowered the forecast of the economic growth for next year.

2012-01-25T05:38:00.000-08:00

Forex Metal Daily Newsletter

Daily review for 24.01, 2012

The Bank of Japan lowered the forecast of the economic growth for next year.

Asian and European trading sessions:

Euro: The euro stepped back from the three-week highs. The investors and traders were taken profits on their opened before positions on Euro currency. Moreover, many market participants took cautious positions and did not want to open any long positions on Euro currency against the background of the prolonged negotiations on Greek debt. The EUR /USD pair traded in a range of $1.2953 to $1.3061.

US Dollar: The investors' attentions today were pointed towards the started today two-day meeting of the Federal Open Market Committee of US. The trading dynamics of U.S. dollar were positively affected by the growing demand for safe haven assets against the background of the negative dynamics on the main European stock exchanges.

British Pound: The GBP/USD pair traded today in uptrend range of $1.5533- $1.5591 during both sessions and recorded its European trading session's maximum by reaching the level of $1.5597.

American trading session:

Japanese Yen: The yen fell against almost all of its major competitors after the Bank of Japan lowered the forecast of the economic growth for next year.

British Pound: The Pound rose against most traded currencies after the report which showed that the budget deficit in December fell more than expected.

Oil: The cost of March's WTI futures dropped to 98.28 dollars per barrel.

Gold: Gold prices also fell. The cost of the February gold futures on COMEX today dropped to 1661.07 dollars per ounce.

TECHNICAL ANALYSIS FOR 25.01, 2012

EURUSD

The pair has found support at Fibonacci 23% and aiming to the next Fibonacci level 38% at 1.31150.

Resistance: 1.30277, 1.31674, 1.33143

Support: 1.28630, 1.26897, 1.25690

GBPUSD

The pair has MACD convergence that may support pair to start upwards corrections. First aim is at 1.54842, the second level at 1.56722.

Resistance: 1.56722, 1.58543, 1.60322

Support: 1.54842, 1.53482, 1.52063

USDCHF

On daily graph MACD divergence which might be a signal of downwards corrections. The aim of correction can be at Moving Average (200) at 0.90279.

Resistance: 0.93069, 0.93949, 0.95074

Support: 0.92026, 0.91079, 0.89635

USDJPY

The pair has broken 77.539 and aiming to 78.345.

Resistance: 78.345, 79.070, 79.707

Support: 77.539, 76.463, 75.425

AUDUSD

The pair is trying to break triangle. The triangle's upper level is 1.04407 (resistance), lower level is 0.99207 (support).

Resistance: 1.05332, 1.06164, 1.07005

Support: 1.04407, 1.03535, 1.02558

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Market review for 23.01.12:The Asian financial markets celebrated a New Year.

2012-01-24T07:07:00.000-08:00

Forex Metal Daily Newsletter

Daily review for 23.01, 2012

The Asian financial markets celebrated a New Year.

Asian and European trading sessions:

Euro: The euro fell at the beginning of the Asian trading session amid continuing disagreement in the negotiations on restructuring the debt of the Greece. The EUR/USD pair dropped to its daily low of $1.2875, but then recovered to $1.2902 and continued traded mostly around $1.2890 level where finally found its support. Coming later, the European session provided positive trend dynamics for the Euro currency and the EUR / USD couple updated its two week high of $1.3045 level. All these dynamics were amidst the background of speculations that the heads of the European countries at a coming meeting in Brussels will take decisive actions to address the debt crisis in the region. One of the main topics of the meeting will be the situation in Greece. Supported the euro currency today also the other market speculations of the positive results of the ongoing negotiations about making attempts to force the Greek private lenders such as banks, insurance companies and hedge funds to agree to cancel 50% of the country's debt in their holding.

British Pound: The GBP/USD pair traded today in the range of $1.5514- $1.5601.

American trading session:

Oil: The WTI oil futures on the NYMEX increased by 1.4% to $100.2.

Gold: The Gold prices were stable today and rose to 1680.8 dollars per ounce.

Today, in observance of New Year according to lunar calendar, the financial markets in China, Hong Kong, Singapore, South Korea, and Taiwan were closed.

TECHNICAL ANALYSIS FOR 24.01, 2012

EURUSD

The pair has found support at Fibonacci 23% and aiming to the next Fibonacci level 38% at 1.31150.

Resistance: 1.30277, 1.31674, 1.33143

Support: 1.28630, 1.26897, 1.25690

GBPUSD

The pair has MACD convergence that may support pair to start upwards corrections. First aim is at 1.54842, the second level at 1.56722.

Resistance: 1.56722, 1.58543, 1.60322

Support: 1.54842, 1.53482, 1.52063

USDCHF

On daily graph MACD divergence which might be a signal of downwards corrections.

Resistance: 0.93069, 0.93949, 0.95074

Support: 0.92026, 0.91079, 0.89635

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 (resistance), lower level is 0.99207 (support). The pair tried to break it and can roll back to the triangle's line at 1.04407.

Resistance: 1.05332, 1.06164, 1.07005

Support: 1.04407, 1.03535, 1.02558

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Forex-Metal Weekly: Market review. Technical analysis. Trade forex from your mobile device – use our free iphone and android apps.

2012-01-23T06:01:00.000-08:00

Forex Metal Newsletter

In this issue:

Weekly market review from Forex-Metal.

Weekly technical analysis

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Weekly review for 16 - 20.01, 2012

Euro: The European currency made another great attempt to recover against the U.S. dollar and rotate its well-established down trend. After reaching a new low of $1.2627 against the US dollar on Monday due to lowering credit ratings of some Europeans countries by Standard & Poor rating agency on Friday, January 13 the Euro currency started its big snap back. On that day, the good news of placement of the government bonds of France were supported for currency positive trading dynamics. On Tuesday, the Euro rose against the background of report on China's GDP which was better than expected. In details, the report showed the increase to 8.9% versus forecasted 8.7% in fourth quarter of 2011 year. The support for the Euro currency was also provided by the results of the auction on government bonds of Belgium. Belgium attracted 2.96 billion euro with planned target of 3.0 billion euro. The currency continued growing as well as after the successful result of auction of bonds of the European Financial Stability Facility (EFSF). The published by the German institute ZEW report, whose index value showed improvement in Germany and the EU as a whole had also positive influence for the trading dynamics of the Euro. The currency recorded its daily high of $ 1.2807 mark. Against the background of making attempts to force the Greek private lenders such as banks, insurance companies and hedge funds to agree to cancel 50% of the country's debt in their holding the euro was rising during the Wednesday's trading sessions. On Thursday, the results of the auctions of Germany's government bonds, which raised 3.44 billion euro for 2 years as well as of Portugal's bonds of 2.5 billion euro with targeted 2-2.5 billion euro, were also supportive for the Euro currency. The Euro continued to strengthen against major currencies amidst the positive results of auctions of Spain and France governments bonds. All in all, the Euro has recovered by almost 2% against the U.S. dollar and added 230 points by the end of this week.

US Dollar: The dollar fell against major currencies against the background of positive dynamics in the Asian, European and U.S. stock markets. The investors were also buying the risky assets. The declined demand for relatively safe assets started to be appeared after the published information by IMF which informed of increasing its lending resources to $ 500 billion in order to protect the global economy. The American dollar continued to decline against its major competitors amid signs of U.S. economic recovery and rising stock prices of Asian, European and American companies.

British Pound: The GBP/USD pair traded mostly in uptrend direction and has almost the same dynamics with the Euro currency .Friday even showed this couple increase by 1.5% or 230 points, after the positive data on retail sales.

Australian dollar: The Australian dollar rocketed sharply today at the beginning of the Asian session against a background of stronger than expected data on China's GDP which grew in fourth quarter of 2011 year. The currency traded at its highs against of almost all its competitors. Even though, the employment report in Australia showed job losses of 29 300 in December 2011, the currency continued its uptrend which was primarily supported by the demand for risky assets.

Weekly technical analysis for 23 - 27. 01, 2012

EURUSD

The pair has broken Moving Average (500) and trying to reach support at 1.25667. If the pair stays above this level the pair will return to MA (500) and Fibonacci level 38% at 1.30624. If the pair declines below 1.25667 the pair will decline to the next Fibonacci level 50% at 1.21216.

Resistance: 1.28800, 1.33427, 1.37441

Support: 1.25667, 1.20280, 1.17063

GBPUSD

The pair may try to decline to Fibonacci 23% at 1.53340.

Resistance: 1.59962, 1.64274, 1.68504

Support: 1.52523, 1.48532, 1.43344

USDCHF

The pair has reached Moving Average (100) and may stay below this level 0.93264.

Resistance: 0.96597, 0.99031, 1.04060

Support: 0.93264, 0.91074, 0.88022

USDJPY

The pair has declined to support level at 76.535.

Resistance: 80.244, 83.330, 86.836

Support: 76.535, 73.126, 69,117

AUDUSD

The pair is trying to break upper level of the triangle and aiming to 1.05810.

Resistance: 1.05810, 1.07806, 1.09604

Support: 1.03847, 1.01873, 1.00031

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Market review for 19.01.12:The U.S. dollar continued to decline amidst the reduced demand the “safe haven” assets.

2012-01-20T03:52:00.000-08:00

Forex Metal Daily Newsletter

Daily review for 19.01, 2012

The U.S. dollar continued to decline amidst the reduced demand the "safe haven" assets.

Asian and European trading sessions:

Euro: The Euro currency continued to strengthen against major currencies amidst the positive results of auctions of Spain and France governments bonds. The auction of Spain government bonds showed that 6.6 billion euro was attracted with targeted 3.5-4.5 billion euro . France also attracted more than was expected, 7,965 billion against the target 6.5-8.0 billion euro. Supported the euro currency today also market speculations of the positive results of the ongoing negotiations about making attempts to force the Greek private lenders such as banks, insurance companies and hedge funds to agree to cancel 50% of the country's debt in their holding . The EUR / USD pair showed its high hitting $ 1.2916 level during the European trading session.

US Dollar: The American dollar continued to decline against its major competitors amid signs of U.S. economic recovery and rising stock prices of Asian companies. At the European session, the pressure on the currency came also from reduced demand on safe haven assets and positive dynamics in the European stock markets and growth of U.S indices futures.

British Pound: The GBP/USD pair traded today in uptrend range of $1.5414- $1.5450 during both sessions and recorded its European trading session's maximum by reaching several times the level of $1.5457.

Australian dollar: The Australian dollar fell today during the Asian trading session, under pressure from weak data on employment in Australia. The employment report in Australia showed job losses of 29 300 in December 2011. This news did not support the analysts' forecasts of growth in jobs positions for that period of time.

American trading session:

Oil: The Oil prices were rising against the background of declining inventories of Crude Oil in U.S. The cost of February's WTI futures rose to 102.06 dollars per barrel, before the steeply intraday sell off to $100 support level.

Gold: The Gold prices rose, because of the weak dollar. Their today's high was recorded at $1669.09 per ounce.

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Market review for 18.01.12: The positive results of Germany’s and Portugal’s government bonds supported to the Euro currency today.

2012-01-19T05:17:00.000-08:00

Forex Metal Daily Newsletter

Daily review for 18.01, 2012

The positive results of Germany's and Portugal's government bonds supported to the Euro currency today.

Asian and European trading sessions:

Euro: Against the background of making attempts to force the Greek private lenders such as banks, insurance companies and hedge funds to agree to cancel 50% of the country's debt in their holding the euro was rising during the today's Asian trading session. The EUR / USD couple strengthened to the level of $1.2805.

The results of the auctions of Germany's governments' bonds today, which raised 3.44 billion euro for 2 years as well as of Portugal's bonds of 2.5 billion euro with targeted 2-2.5 billion euro, were also supportive for the Euro currency's positive trading dynamics. The EUR / USD pair continued its uptrend to the highs of $1.2852.

US Dollar: The US dollar fell against most major currencies amid the reduced demand for safe assets. The declined demand for relatively safe assets started to be appeared after the published information by IMF which informed of increasing its lending resources to $ 500 billion in order to protect the global economy.

British Pound: The GBP/USD pair traded in the range of $1.5326- $1.5385 during both sessions and recorded its European trading session's maximum by reaching the level of $1.5394.

Australian dollar: The Australian dollar traded near its highs levels. These levels are the highest levels for the past 11 weeks. Today's reasons for that kind of positive dynamic were anticipations of tomorrow's report on employment rate of Australia. According to the analysts expectations it would have been a growth of jobs positions in December.

American trading session:

Oil: The cost of February's WTI futures dropped to 99.97 dollars per barrel. The Oil fell against the backdrop of rising tensions between Iran and Saudi Arabia, two major OPEC producers, and lowering the growth of the global economy's forecasts by the World Bank.

Gold: The Gold prices were stable today and traded in a range of 1642.1 - 1661.7 dollars per ounce.

TECHNICAL ANALYSIS FOR 19.01, 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 has MACD convergence that may support pair to start upwards corrections. First aim is at the 1.54842.

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: 0.93949, 0.95074, 0.96220

Support: 0.93069, 0.92026, 0.91079

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). The pair has reached upper level of the figure and may roll back to 1.03535.

Resistance: 1.04407, 1.05332, 1.06164

Support: 1.03535, 1.02558, 1.01744

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Market review for 17.01.12: The euro grew against the U.S. dollar and its others major competitors.

2012-01-18T06:31:00.000-08:00

Forex Metal Daily Newsletter

Daily review for 17.01, 2012

The euro grew against the U.S. dollar and its others major competitors.

Asian and European trading sessions:

Euro: Today, on Tuesday's Asian trading session the Euro rose against the U.S. dollar against the background of report on China's GDP which was better than expected. In details, the report showed the increase to 8.9% versus forecasted 8.7% in fourth quarter of 2011 year. The support for the Euro currency was also provided by the results of the auction on government bonds of Belgium. Belgium attracted 2.96 billion euro with planned target of 3.0 billion euro. The EUR / USD pair during the European session increased to the level of $1.2752 and recorded its daily high at $ 1.2807 area.

US Dollar: The dollar fell against major currencies against the background of positive dynamics in the European stock markets and the growth of U.S. stock indexes. The investors were also buying the risky assets today.

British Pound: The GBP / USD couple marked the $1.5401 during the European session. The pair was mostly trading at its highs before the American trading session.

Japanese Yen: The USD / JPY pair had a quite volatile day today dropping to Y76.56 area at Asian session and raising to Y76.83 level at the European trading session.

American trading session:

Euro: The currency continued growing as well as at the American trading session after the successful result of auction of bonds of the European Foundation for financial stability (EFSF), which attracted 1.501 billion euro versus targeted 1.5 billion euro. The published by the German institute ZEW report, whose index value showed improvement in Germany and the EU as a whole had also positive influence for the trading dynamics of the Euro currency.

Oil: Today, the February's WTI (Light Sweet Crude Oil) futures grew to 101.08 dollars per barrel.

Gold: The February gold futures on the COMEX today rose today to $1654 showing its daily high at the 1667.25 dollars per ounce.

TECHNICAL ANALYSIS FOR 18.01, 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 has MACD convergence that may support pair to start upwards corrections.

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: 1.04407, 1.05332, 1.06164

Support: 1.03535, 1.02558, 1.01744

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Market review for 16.01.12: The good news for the Euro: France placed its government bonds on 8.59 billion euro compared with planned 7, 4-8, 7 billion euro.

2012-01-17T06:49:00.000-08:00

Forex Metal Daily Newsletter

Daily review for 16.01, 2012

The good news for the Euro: France placed its government bonds on 8.59 billion euro compared with planned 7, 4-8, 7 billion euro.

Asian and European trading sessions:

Euro: The Euro reached a new low of $1.2627 against the US dollar on Monday during the Asian trading session. The Euro currency was negatively influenced because of the lowering the credit ratings of some Europeans countries made by Standard & Poor rating agency on Friday. The EUR / USD pair traded in a range of $ 1.2627 -$ 1.2686 for the rest of this trading day. The good news for the Euro currency was that France placed its government bonds on 8.59 billion euro compared with planned to 7, 4-8, 7 billion euro.

British Pound: The trading range for the GBP / USD during both sessions was the range of $ 1.5281 to $ 1.5327.

Japanese Yen: The USD / JPY pair dropped to the area of ??Y76.69 during the European trading session.

Australian dollar: The Australian dollar firstly fell along with stocks at the beginning of Asian trading on the background of downgraded rating rate of some European countries on Friday night, as solutions made by agency Standard & Poor's.

Gold:

Oil: The WTI oil futures went up recording their sessions high at $99.93 area.

Gold: The Gold in today's trading increased to 1648.50 per troy ounce.

American trading session:

In observance of Martin Luther King Day, the U.S. stock markets were closed today, on Monday.

TECHNICAL ANALYSIS FOR 17.01, 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 has MACD convergence that may support pair to start upwards corrections.

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

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Forex-Metal Weekly: Market review. Technical analysis. New forex news portal for mobile devices

2012-01-16T09:20:00.000-08:00

Forex Metal Newsletter

In this issue:

Weekly market review from Forex-Metal.
Weekly technical analysis
New forex news portal for mobile devices – fxnews.mobi
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Weekly review for 9 - 13.01, 2012

Euro: This for Euro currency week began with optimism. During the trading sessions on Monday the Euro was raising against its major competitors against the background of attention to the crucial meeting of leaders of Germany and France. The EUR / USD pair strengthened to $1.27835 level at the beginning of the European trading session amid the positive expectations of this meeting. On Tuesday, the Euro continued to recover against the major currencies for the second day against the background of a positive perception on the results of the meeting of the heads of European countries. The purpose of this meeting was to take an action to resolve the debt crisis of EU. The EUR / USD pair rose above $ 1.2800 and recorded its daily high at $1.2815 area. 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 during the Wednesday's trading sessions. Market participants still feared 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 $1.2662. During the Thursday's Asian trading session the EUR/USD couple traded in narrow range between $1.2700 and $1.2732 levels .Market participants did not want to initiate any actions at the threshold of announce of the EU Central Bank rate, which was left unchanged later . The result of the auction of Spain government bonds, which attracted almost double amount than planned, 9.98 billion euro against planned of4-5 billion euro, supported the Euro currency this day and the EUR/USD pair grew up, showing the maximum at the $ 1.2778 area. At the rest of Thursday the Euro remained traded at its highs against the US dollar after European Central Bank President Mario Draghi said that he saw signs of stabilization in the economy of the EU. On Friday, the European currency is completely cut off its previous day's achievements and dropped to a 17-month low against the US dollar. The result of strong sales of the euro was lowering of credit ratings of several European countries.

US Dollar: The US dollar ended up this week with a slight increase against the euro and the pound 0.5% and 0.9% relatively. The positions of the U.S. currency against the yen remained almost unchanged. On Tuesday, the U.S. dollar fell against the background of positive dynamics in the European and Asian stock indexes and demand for risky assets. The pressure on the dollar this day at the American trading session was also provided by positive momentum in U.S. stock markets. The US dollar, traded mostly lower against its competitors on Thursday, because of the leading decline in demand for relatively safe assets. The currency slid down after the report on U.S. retail sales in December, which rose less than expected, by only 0.1% versus forecasted 0.3 %. Also, the increased Initial Jobless Claims, which grew to 399K against forecasted 375K, pressured the American currency.

British Pound: The pound remained under pressure amid speculation that this year the Bank of England will expand its program of bonds redemption and today's announcement of the interest rate of England. The Bank of England would more room to stimulate the economy because of declined inflation in the UK. The market participants think that there are chances for continuing the program of quantitative easing after February. The GBP / USD pair fell below $ 1.5300 and recorded its weekly low at the level of $1.5232.

Swiss Franc: The news of the resignation of the head of the Swiss National Bank Mr. Philipp Hildebrand which released on Monday was supportive for trading dynamics of Swiss Franc. This resignation is related to the recent scandal of illegal operations with the use of insider information. The Swiss currency became stronger against its competitors after the head of the Swiss central bank had reported this issue.

Weekly technical analysis for 16 - 20. 01, 2012

EURUSD

Resistance: 1.28800, 1.33427, 1.37441

Support: 1.25667, 1.20280, 1.17063

GBPUSD

The pair has declined to Fibonacci 23% at 1.53340.

Resistance: 1.59962, 1.64274, 1.68504

Support: 1.52523, 1.48532, 1.43344

USDCHF

The pair will try to reach Moving Average (200) at 1.01369. At the same level is Fibonacci 61%.

Resistance: 0.96597, 0.99031, 1.04060

Support: 0.93264, 0.91074, 0.88022

USDJPY

The pair is rolling back to 76.535.

Resistance: 80.244, 83.330, 86.836

Support: 76.535, 73.126, 69,117

AUDUSD

The pair has risen above 1.01873. If the pair stays above this level the pair will rise to 1.03847. If the pair stays below 1.01873 the pair will decline to 1.00031.

Resistance: 1.03847, 1.05810, 1.07806

Support: 1.01873, 1.00031, 0.97889

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Market review for 121.01.12: The positive result of Spain government bonds auction and weakness of US dollar supported the Euro currency.

2012-01-13T02:46:00.000-08:00

Forex Metal Daily Newsletter

Daily review for 12.01, 2012

The positive result of Spain government bonds auction and weakness of US dollar supported the Euro currency.

Asian and European trading sessions:

Euro: During the Asian trading session the EUR/USD couple traded in narrow range between $1.2700 and $1.2732 levels .Market participants did not want to initiate any actions at the threshold of announce of the EU Central Bank rate later today. At the first part of European trading session the Euro started to get back its positions against US dollar on speculation that the European Central Bank will not change its monetary and leave interest rate unchanged. The result of the auction of Spain government bonds, which attracted almost double amount than planned, 9.98 billion euro against planned of4-5 billion euro, also supported the Euro currency. The EUR/USD pair grew up, showing the maximum at the $ 1.2778 area.

US Dollar: The US dollar, traded mostly lower against its competitors because of the leading decline in demand for relatively safe assets.

Japanese Yen: The USD/JPY pair recorded its low at the last part of the European trading session by hitting Y76.67 level.

New Zealand dollar: The New Zealand dollar reached a two-month high against the US dollar before dropping, amid the report of little faster than expected, rate of inflation in China, 4.1% compared forecasted 4.0%.

American trading session:

US Dollar: The dollar continued its downtrend after the report on U.S. retail sales in December, which rose less than expected, by only 0.1% versus forecasted 0.3 %. Also, the increased Initial Jobless Claims, which grew to 399K against forecasted 375K, pressured the American currency.

Euro: The Euro remained traded at its highs against the US dollar after European Central Bank President Mario Draghi said that he sees signs of stabilization in the economy of the EU. The other reason for Euro's positive trading dynamics was the result of positive placement of Spain government bonds.

Gold: The February's Gold future contracts rose by $ 18, or 1.1 %, to $ 1661 per troy ounce. The closed price for today, however, was recorded at $1.649 level.

Oil: The February's WTI futures suffered the big intraday drop below $ 100 per barrel, showing a session low at $ 98.49 level.

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

2012-01-12T03:37:00.000-08:00

Forex Metal Daily Newsletter

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

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

Please do not reply to this newsletter.