IN THIS ISSUE:
1. Weekly market review from Forex-Metal.
2. Weekly technical analysis.
3. New local payment options will be available soon
4. Get a 30% trading bonus when you open a new account.
5. Representatives Wanted!
________________________________________
WEEKLY REVIEW FOR 30.05 – 3. 06, 2011
On Monday the previous week New-Zealand dollar demonstrated a record-breaking maximum against the greenback. New-Zealand trade balance hit a record NZD 1.113 billion on Sunday, which pushed the national currency up on that day.
Euro was under pressure on Monday, as concerns over the deteriorating European situation with the Euro-zone budget, had a negative impact on the euro. The Prime Minister of Greece, George Papandreu, insisted on the approval of additional measures aimed to reduce the budget deficit. American and UK financial markets were closed on Monday, due to the celebration of the national holidays.
Euro-zone representatives supported the possibility that Greece would receive additional financial help in order to avoid spreading of the budget crises. The released European fundamentals rendered additional support to the euro on Tuesday. In particular, German retail sales annualized showed growth for 3.6% against the forecasted 1.5%. Unemployment decreased in Germany as well. Euro-zone unemployment stayed at the previous level. As a result, the EUR/USD grew and reached the $1.4400 maximums. Expectations for the increase of the ECB principal interest rate reinforced. At the same time the sterling followed the euro growth and reached the temporary maximums at the $1.6550 level.
It was announced on Tuesday that Moody’s credit agency would reconsider the credit rating of Japan for its possible reduction. Therefore, the Japanese yen dropped. The USD/JPY pair strengthened at the Y81.60 mark.
Investors’ optimism regarding the possibility of rendering additional financial support to Greece, pushed the oil prices higher. Canadian TransCanada pipeline leak increased concerns regarding the US oil inventories’ supply. Oil prices reached the $102.47 level per barrel. At the same time gold prices reached maximums at the $1540.80 mark per ounce.
According to the released information, the Bank of Canada left the principal rate unchanged at the previous level of 1.00%. After that the Canadian dollar rate grew against the greenback.
As concerns over the European budget crises weakened, the euro continued to strengthen during the morning trading on Wednesday. The EUR/USD pair traded in the range of $1.4380-$1.4440.
European trading session demonstrated some decrease of the euro against the greenback. European representatives could apply some measures aimed to stimulate debentures’ holders, according to the speculations. The GBP/USD pair traded in the range of $1.6440-$1.6480. But the released UK Purchasing Manager Index could not render any support to the national currency. The GBP PMI manufacturing dropped to 52.1 against the forecasted 54.1. As a result, the sterling rate decreased to the temporary minimum of $1.6380.
According to the Bloomberg publication, American congressmen decided not to increase the maximal limit of the national debt. As a result, speculations regarding the possible US default, reinforced. This default may be the first one in the US history. The greenback showed decrease after the release of the weak fundamentals. ISM manufacturing dropped to 53.5 against the forecasted 57.2. ADP employment growth was much lower expectations: 38K against the predicted 175K.
The EUR/USD pair showed considerable movement during the Thursday trading session. Euro was supported by the speech of German Chancellor, Angela Merkel, who said that “German economy growth had very positive forecast”. During the European trading session the EUR/USD grew to the maximums of $1.4490. The Spanish bond placing was successful, which was another factor of the euro strength. At the same time the strong UK fundamentals supported the sterling, and the GBP/USD pair grew and reached the $1.6420 mark. The PMI construction index happened to be above the forecast.
The USD/JPY pair showed maximums during the morning trading on Thursday at the level of ? Y81.30 and minimums at the Y80.66 mark. The yen was pressured on that day due to the reinforced concerns over the national political situation in Japan.
Negative US news release pressured the greenback, which showed decrease during the American trading session on Thursday. US Initial jobless claims increased above expectations. Moody’s agency mentioned that the US credit rating could be reconsidered. On the same day Moody’s credit agency reduced the rating of Greece to Caa1.
Swiss Franck reached its new maximum against the US dollar. The national Retail prices growth level supported the Swiss frank.
At the end of the week the EUR/USD pair traded at the $1.4600 maximums and the GBP/USD pair reached above the $1.6400 level.
Happy trading!
________________________________________
WEEKLY REVIEW FOR 6 -10.06, 2011
EURUSD
The pair has risen to Median line at 1.46811. The pair may roll back to 1.44835 before continue rising.
Resistance: 1.47697, 1.50676, 1.54340
Support: 1.44835, 1.41130, 1.37441
GBPUSD
The pair is trading between Moving Averages (200) 1.65379 and (100) 1.59962.
Resistance: 1.64274, 1.68504, 1.72652
Support: 1.59962, 1.52523, 1.48532
USDCHF
The pair has declined to 0.82723. The pair may roll back to channel line at 0.85633.
Resistance: 0.85633, 0.88022, 0.91074
Support: 0.82723, 0.79957, 0.76882
USDJPY
The pair declined to 80.244. If this level is broken the pair will continue declining.
Resistance: 83.330, 86.836, 90.909
Support: 80.244, 76.535, 73.126
AUDUSD
The pair is trading between 1.07806 and 1.05810. If 1.05810 is broken the pair will decline to 1.03847.
Resistance: 1.07806, 1.09604, 1.11831
Support: 1.05810, 1.03847, 1.01873
________________________________________
NEW LOCAL PAYMENT OPTIONS WILL BE AVAILABLE SOON
Later this month we will be adding a few local deposit options for Germany, Hungary, Italy, UK and a few other countries.
Customers from these countries would be able to make fast payments via local banking system in their country when depositing funds into trading accounts.
Local deposit option will reduce the banking fees associated with sending transfers and will make a procedure of loading funds into trading account much simplier.
We look forward to offering these new features and will update you in the next few days once these payment options are available.
________________________________________
GET A 30% TRADING BONUS WHEN YOU OPEN A NEW ACCOUNT
Cash bonus promotion - "You nominate the amount of the bonus". Get a cash bonus of up to $3000 when you deposit funds into your account for the first time. The full bonus conditions are available here: https://forex-metal.com/discount/discount06
If you have just opened a trading account with us and fund your trading account within a week from the time of this message, you can receive a cash bonus in addition to your deposit. If you would like to receive the bonus, please contact us at payments@forex-metal.com and confirm the bonus amount you would like to receive, at the time your account is being funded. REPRESENTATIVES WANTED !
We are expanding our operations and would like to open a representative office in your country, so we can be closer to our customers.
If you feel that you are up to it: to have an interesting business and to have a steady income, then talk to us.
You do not need to have any special knowledge - full training and support will be provided by us. For more details please contact our Business Development team at business@forex-metal.com or talk to our operators via live chat and they will put you to the right person.
________________________________________
1. Weekly market review from Forex-Metal.
2. Weekly technical analysis.
3. New local payment options will be available soon
4. Get a 30% trading bonus when you open a new account.
5. Representatives Wanted!
________________________________________
WEEKLY REVIEW FOR 30.05 – 3. 06, 2011
On Monday the previous week New-Zealand dollar demonstrated a record-breaking maximum against the greenback. New-Zealand trade balance hit a record NZD 1.113 billion on Sunday, which pushed the national currency up on that day.
Euro was under pressure on Monday, as concerns over the deteriorating European situation with the Euro-zone budget, had a negative impact on the euro. The Prime Minister of Greece, George Papandreu, insisted on the approval of additional measures aimed to reduce the budget deficit. American and UK financial markets were closed on Monday, due to the celebration of the national holidays.
Euro-zone representatives supported the possibility that Greece would receive additional financial help in order to avoid spreading of the budget crises. The released European fundamentals rendered additional support to the euro on Tuesday. In particular, German retail sales annualized showed growth for 3.6% against the forecasted 1.5%. Unemployment decreased in Germany as well. Euro-zone unemployment stayed at the previous level. As a result, the EUR/USD grew and reached the $1.4400 maximums. Expectations for the increase of the ECB principal interest rate reinforced. At the same time the sterling followed the euro growth and reached the temporary maximums at the $1.6550 level.
It was announced on Tuesday that Moody’s credit agency would reconsider the credit rating of Japan for its possible reduction. Therefore, the Japanese yen dropped. The USD/JPY pair strengthened at the Y81.60 mark.
Investors’ optimism regarding the possibility of rendering additional financial support to Greece, pushed the oil prices higher. Canadian TransCanada pipeline leak increased concerns regarding the US oil inventories’ supply. Oil prices reached the $102.47 level per barrel. At the same time gold prices reached maximums at the $1540.80 mark per ounce.
According to the released information, the Bank of Canada left the principal rate unchanged at the previous level of 1.00%. After that the Canadian dollar rate grew against the greenback.
As concerns over the European budget crises weakened, the euro continued to strengthen during the morning trading on Wednesday. The EUR/USD pair traded in the range of $1.4380-$1.4440.
European trading session demonstrated some decrease of the euro against the greenback. European representatives could apply some measures aimed to stimulate debentures’ holders, according to the speculations. The GBP/USD pair traded in the range of $1.6440-$1.6480. But the released UK Purchasing Manager Index could not render any support to the national currency. The GBP PMI manufacturing dropped to 52.1 against the forecasted 54.1. As a result, the sterling rate decreased to the temporary minimum of $1.6380.
According to the Bloomberg publication, American congressmen decided not to increase the maximal limit of the national debt. As a result, speculations regarding the possible US default, reinforced. This default may be the first one in the US history. The greenback showed decrease after the release of the weak fundamentals. ISM manufacturing dropped to 53.5 against the forecasted 57.2. ADP employment growth was much lower expectations: 38K against the predicted 175K.
The EUR/USD pair showed considerable movement during the Thursday trading session. Euro was supported by the speech of German Chancellor, Angela Merkel, who said that “German economy growth had very positive forecast”. During the European trading session the EUR/USD grew to the maximums of $1.4490. The Spanish bond placing was successful, which was another factor of the euro strength. At the same time the strong UK fundamentals supported the sterling, and the GBP/USD pair grew and reached the $1.6420 mark. The PMI construction index happened to be above the forecast.
The USD/JPY pair showed maximums during the morning trading on Thursday at the level of ? Y81.30 and minimums at the Y80.66 mark. The yen was pressured on that day due to the reinforced concerns over the national political situation in Japan.
Negative US news release pressured the greenback, which showed decrease during the American trading session on Thursday. US Initial jobless claims increased above expectations. Moody’s agency mentioned that the US credit rating could be reconsidered. On the same day Moody’s credit agency reduced the rating of Greece to Caa1.
Swiss Franck reached its new maximum against the US dollar. The national Retail prices growth level supported the Swiss frank.
At the end of the week the EUR/USD pair traded at the $1.4600 maximums and the GBP/USD pair reached above the $1.6400 level.
Happy trading!
________________________________________
WEEKLY REVIEW FOR 6 -10.06, 2011
EURUSD
The pair has risen to Median line at 1.46811. The pair may roll back to 1.44835 before continue rising.
Resistance: 1.47697, 1.50676, 1.54340
Support: 1.44835, 1.41130, 1.37441
GBPUSD
The pair is trading between Moving Averages (200) 1.65379 and (100) 1.59962.
Resistance: 1.64274, 1.68504, 1.72652
Support: 1.59962, 1.52523, 1.48532
USDCHF
The pair has declined to 0.82723. The pair may roll back to channel line at 0.85633.
Resistance: 0.85633, 0.88022, 0.91074
Support: 0.82723, 0.79957, 0.76882
USDJPY
The pair declined to 80.244. If this level is broken the pair will continue declining.
Resistance: 83.330, 86.836, 90.909
Support: 80.244, 76.535, 73.126
AUDUSD
The pair is trading between 1.07806 and 1.05810. If 1.05810 is broken the pair will decline to 1.03847.
Resistance: 1.07806, 1.09604, 1.11831
Support: 1.05810, 1.03847, 1.01873
________________________________________
NEW LOCAL PAYMENT OPTIONS WILL BE AVAILABLE SOON
Later this month we will be adding a few local deposit options for Germany, Hungary, Italy, UK and a few other countries.
Customers from these countries would be able to make fast payments via local banking system in their country when depositing funds into trading accounts.
Local deposit option will reduce the banking fees associated with sending transfers and will make a procedure of loading funds into trading account much simplier.
We look forward to offering these new features and will update you in the next few days once these payment options are available.
________________________________________
GET A 30% TRADING BONUS WHEN YOU OPEN A NEW ACCOUNT
Cash bonus promotion - "You nominate the amount of the bonus". Get a cash bonus of up to $3000 when you deposit funds into your account for the first time. The full bonus conditions are available here: https://forex-metal.com/discount/discount06
If you have just opened a trading account with us and fund your trading account within a week from the time of this message, you can receive a cash bonus in addition to your deposit. If you would like to receive the bonus, please contact us at payments@forex-metal.com and confirm the bonus amount you would like to receive, at the time your account is being funded. REPRESENTATIVES WANTED !
We are expanding our operations and would like to open a representative office in your country, so we can be closer to our customers.
If you feel that you are up to it: to have an interesting business and to have a steady income, then talk to us.
You do not need to have any special knowledge - full training and support will be provided by us. For more details please contact our Business Development team at business@forex-metal.com or talk to our operators via live chat and they will put you to the right person.
________________________________________