IN THIS ISSUE:
1. Weekly market review from Forex-Metal.
2. Weekly technical analysis.
3. Trade forex from iPhone or iPad: new apps are available.
4. 30% trading bonus is on again!
5. Representatives Wanted!
________________________________________
1. WEEKLY REVIEW FOR 24 - 28 01, 2011
Previous trading week was a week of the “weak dollar”. On Monday expectations for the strong European fundamentals supported the euro. Eventually the Euro-zone purchasing manager services index turned out to be at the level of 55.2, which was above the expectations of 54.3. The annualized Euro-zone industrial new orders resulted in 19.9% against the forecasted 17.4%. As a result, the EUR/USD maximums were reached at $1,3640. According to the published information, the Irish political coalition collapsed, which increased the risk of the budget adoption, which has been based on the engaged country loan. Therefore, the euro started its negative trend. The EUR/USD minimum was reached at the $1.3540 mark on the same day. In addition, according to some experts’ opinion, the technical correction of the euro was taking place after the former growth of the single currency.
At the same time the sterling incurred losses due to the negative forecasts of the UK GDP data, which was planned for Tuesday. Therefore, the GBP/USD pair dropped to $1.5920 minimums. The released on Monday Australian Producer price index data happened to be below expectations, therefore, the Australian dollar rate dropped.
On Tuesday the sterling demonstrated a sharp negative trend and the GBP/USD pair dropped for 200 points and reached the $1.5750 minimums. The release of the UK fundamentals showed that the UK GDP fell by 0.5% in Q4 after having increased for the last 4 quarters. The cold weather conditions could be one of the negative factors that hit the retail and service sectors. As a result, the pound demonstrated a sharpest drop in this month. According to the experts’ opinion, the possibility that the Bank of England would keep the principal rate unchanged, increased.
On the same day the greenback decreased against the Japanese yen rate. The USD/JPY traded in the range of Y82.25 – Y82.54. Bank of Japan decided to leave the principal rate unchanged at the previous level of 0.10%.
The released Australian Consumer prices indicators turned out to be unexpectedly lower compared to their forecasts. The annualized Consumer prices index for the fourth quarter resulted in 2.7% when the expectations were at the 3.0%. As a result, the Australian dollar was under pressure on Tuesday.
On Wednesday the EUR/USD reached the maximums of $1,3709. German import prices showed growth for 2.3% against the forecasted 1.2%, which was published on that day. Expectations for the strong EC fundamentals release next day supported the euro as well. On Wednesday the greenback was mainly under pressure and decreased against major currencies. According to the final decision of the FOMC meeting, the QE2 program was left unchanged at the previous level. The interest rate was left at the level of 0.25%. Among the published fundamentals, the US New home sales demonstrated growth and reached 329K against the forecasted 300K.
The released on the same day minutes of the meeting of the Bank of England resulted in a sharp growth of the sterling. According to the published report, Andrew Sentance was supported by another confederate, who also voted for the increase of the interest rate for 25 basic points. The GBP/USD reached the maximums of $1,5904. We should also mention that on Wednesday the Reserve Bank of New-Zealand left the principal rate unchanged at the level of 3.00%.
According to the released information on Thursday, the rating agency S&P reduced the long-term sovereign rating of Japan to the "??-" level with the stable forecast. As a result the Japanese yen rate dropped sharply against the major currencies. The USD/JPY pair grew and reached maximums of Y83.00.
During the morning trading the US dollar received substantial support after the released S&P rating for Japan. All major greenback competitors dropped. The euro and the sterling demonstrated negative movement against the US dollar. On the same day the statement of the President of France, Nicolas Sarkozy in Davos, rendered considerable support for the euro. The President spoke on behalf of France and Germany, and he pointed out that “they would do everything possible to protect the EC”. Therefore, the euro reacted immediately and strengthened against its major counterparts. The EUR/USD pair grew from the minimums of $1.3630 to maximums at $1.3760. Following the euro positive dynamics, the sterling also grew, and the GBP/USD pair increased to $1.5989. The greenback did not receive support from the published positive US fundamentals during the second part of that day. Pending home sales grew for 2.0% against the expected 1.0%.
The released positive US fundamentals on Friday pressured the euro and the EUR/USD pair closed the trading week at the $1.3600 range. The GBP/USD rate decreased as well and closed the trading week at $1.5850.
Happy trading!
________________________________________
2. WEEKLY TECHNICAL ANALYSIS FOR 31.01 - 04. 02, 2011
EURUSD
The pair has reached Moving Averages (100 and 200) at 1.35270. If the pair stays below this level the pair will decline to 1.33427. If the pair stays above 1.35270 the pair will rise to 1.41130.
Resistance: 1.37441, 1.41130, 1.44835
Support: 1.33427, 1.2800, 1.25667
GBPUSD
The pair has reached channel line at 1.60874. If the pair rises above this level the pair will continue rising aiming to reach Fibonacci retracement 38.2% at 1.64274. If the pair stays below1.60874 the pair will decline to 1.56780.
Resistance: 1.59962, 1.64274, 1.68504
Support: 1.52523, 1.48532, 1.43344
USDCHF
The pair is aiming to 0.93264.
Resistance: 0.96525, 0.99031, 1.01369
Support: 0.93264, 0.91074, 0.88022
USDJPY
The pair is closed in the triangle. Resistance 83.330, support 81.010.
Resistance: 83.330, 86.836, 90.909
Support: 80.244, 76.535, 73.126
AUDUSD
The pair needs to break 0.97889 to be able to work out double top figure. If this level is broken the pair may decline to 0.94048.
Resistance: 1.00031, 1.01873, 1.03847
Support: 0.97889, 0.94048, 0.89581
________________________________________
3. TRADE FOREX FROM I-PHONE OR I-PAD: NEW APPS ARE AVAILABLE.
You can now trade forex and other instruments from your iPhone or iPad.
Simply look up the new app ( Forex Metal) at App Store on your device and start to trade.
You can login to your trading terminal via iPhone/iPad as usual, using your login and password. We hope you will enjoy this new convenient service.
Soon to come: a new application for Google Android.
30% TRADING BONUS IS ON AGAIN!
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/discount02
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. Trade forex from iPhone or iPad: new apps are available.
4. 30% trading bonus is on again!
5. Representatives Wanted!
________________________________________
1. WEEKLY REVIEW FOR 24 - 28 01, 2011
Previous trading week was a week of the “weak dollar”. On Monday expectations for the strong European fundamentals supported the euro. Eventually the Euro-zone purchasing manager services index turned out to be at the level of 55.2, which was above the expectations of 54.3. The annualized Euro-zone industrial new orders resulted in 19.9% against the forecasted 17.4%. As a result, the EUR/USD maximums were reached at $1,3640. According to the published information, the Irish political coalition collapsed, which increased the risk of the budget adoption, which has been based on the engaged country loan. Therefore, the euro started its negative trend. The EUR/USD minimum was reached at the $1.3540 mark on the same day. In addition, according to some experts’ opinion, the technical correction of the euro was taking place after the former growth of the single currency.
At the same time the sterling incurred losses due to the negative forecasts of the UK GDP data, which was planned for Tuesday. Therefore, the GBP/USD pair dropped to $1.5920 minimums. The released on Monday Australian Producer price index data happened to be below expectations, therefore, the Australian dollar rate dropped.
On Tuesday the sterling demonstrated a sharp negative trend and the GBP/USD pair dropped for 200 points and reached the $1.5750 minimums. The release of the UK fundamentals showed that the UK GDP fell by 0.5% in Q4 after having increased for the last 4 quarters. The cold weather conditions could be one of the negative factors that hit the retail and service sectors. As a result, the pound demonstrated a sharpest drop in this month. According to the experts’ opinion, the possibility that the Bank of England would keep the principal rate unchanged, increased.
On the same day the greenback decreased against the Japanese yen rate. The USD/JPY traded in the range of Y82.25 – Y82.54. Bank of Japan decided to leave the principal rate unchanged at the previous level of 0.10%.
The released Australian Consumer prices indicators turned out to be unexpectedly lower compared to their forecasts. The annualized Consumer prices index for the fourth quarter resulted in 2.7% when the expectations were at the 3.0%. As a result, the Australian dollar was under pressure on Tuesday.
On Wednesday the EUR/USD reached the maximums of $1,3709. German import prices showed growth for 2.3% against the forecasted 1.2%, which was published on that day. Expectations for the strong EC fundamentals release next day supported the euro as well. On Wednesday the greenback was mainly under pressure and decreased against major currencies. According to the final decision of the FOMC meeting, the QE2 program was left unchanged at the previous level. The interest rate was left at the level of 0.25%. Among the published fundamentals, the US New home sales demonstrated growth and reached 329K against the forecasted 300K.
The released on the same day minutes of the meeting of the Bank of England resulted in a sharp growth of the sterling. According to the published report, Andrew Sentance was supported by another confederate, who also voted for the increase of the interest rate for 25 basic points. The GBP/USD reached the maximums of $1,5904. We should also mention that on Wednesday the Reserve Bank of New-Zealand left the principal rate unchanged at the level of 3.00%.
According to the released information on Thursday, the rating agency S&P reduced the long-term sovereign rating of Japan to the "??-" level with the stable forecast. As a result the Japanese yen rate dropped sharply against the major currencies. The USD/JPY pair grew and reached maximums of Y83.00.
During the morning trading the US dollar received substantial support after the released S&P rating for Japan. All major greenback competitors dropped. The euro and the sterling demonstrated negative movement against the US dollar. On the same day the statement of the President of France, Nicolas Sarkozy in Davos, rendered considerable support for the euro. The President spoke on behalf of France and Germany, and he pointed out that “they would do everything possible to protect the EC”. Therefore, the euro reacted immediately and strengthened against its major counterparts. The EUR/USD pair grew from the minimums of $1.3630 to maximums at $1.3760. Following the euro positive dynamics, the sterling also grew, and the GBP/USD pair increased to $1.5989. The greenback did not receive support from the published positive US fundamentals during the second part of that day. Pending home sales grew for 2.0% against the expected 1.0%.
The released positive US fundamentals on Friday pressured the euro and the EUR/USD pair closed the trading week at the $1.3600 range. The GBP/USD rate decreased as well and closed the trading week at $1.5850.
Happy trading!
________________________________________
2. WEEKLY TECHNICAL ANALYSIS FOR 31.01 - 04. 02, 2011
EURUSD
The pair has reached Moving Averages (100 and 200) at 1.35270. If the pair stays below this level the pair will decline to 1.33427. If the pair stays above 1.35270 the pair will rise to 1.41130.
Resistance: 1.37441, 1.41130, 1.44835
Support: 1.33427, 1.2800, 1.25667
GBPUSD
The pair has reached channel line at 1.60874. If the pair rises above this level the pair will continue rising aiming to reach Fibonacci retracement 38.2% at 1.64274. If the pair stays below1.60874 the pair will decline to 1.56780.
Resistance: 1.59962, 1.64274, 1.68504
Support: 1.52523, 1.48532, 1.43344
USDCHF
The pair is aiming to 0.93264.
Resistance: 0.96525, 0.99031, 1.01369
Support: 0.93264, 0.91074, 0.88022
USDJPY
The pair is closed in the triangle. Resistance 83.330, support 81.010.
Resistance: 83.330, 86.836, 90.909
Support: 80.244, 76.535, 73.126
AUDUSD
The pair needs to break 0.97889 to be able to work out double top figure. If this level is broken the pair may decline to 0.94048.
Resistance: 1.00031, 1.01873, 1.03847
Support: 0.97889, 0.94048, 0.89581
________________________________________
3. TRADE FOREX FROM I-PHONE OR I-PAD: NEW APPS ARE AVAILABLE.
You can now trade forex and other instruments from your iPhone or iPad.
Simply look up the new app ( Forex Metal) at App Store on your device and start to trade.
You can login to your trading terminal via iPhone/iPad as usual, using your login and password. We hope you will enjoy this new convenient service.
Soon to come: a new application for Google Android.
30% TRADING BONUS IS ON AGAIN!
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/discount02
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.
________________________________________