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

Forex Metal Daily Newsletter Send to a Friend |  Visit our website |  Unsubscribe  Wednesday, 25 Jan 2012 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             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.