IN THIS ISSUE:
1. Weekly market review from Forex-Metal.
2. Weekly technical analysis.
3. Visit a free forex news portal at fx2day.net
4. Get a 35% trading bonus when you open a new account.
6. Representatives Wanted!
________________________________________
WEEKLY REVIEW FOR 7.11 - 11. 11, 2011
During the previous week the euro was under pressure against major currencies due to concerns of market participants about the political instability in Italy. Another negative factor was a released report on industrial production in Germany on Monday, which showed a big slowdown in September by 2.7% versus forecasted -0,9 %.
On the other hand, the euro retreated from its daily lows at $1.3682 on the same day against the US Dollar amid speculation that the Italian Prime Minister Berlusconi may soon resign. Supported by those rumours the EUR/USD pair strengthened and reached the $1.3812 area and remained trading around this level in spite of the fact that Berlusconi himself had actually denied those speculations. At the same time the GBP/USD pair traded around its November highs at $1.6040 area, which confirmed the willingness of investors to buy the British currency as a sort of alternative investments.
After the meeting of the Italian President and the Prime Minister Berlusconi, it was announced that the Prime Minister would resign. This lead to the growth of the euro against the US dollar on Tuesday.
Canadian dollar grew against the major 16 currencies after the three-months’ maximum which was reached by the oil.
Euro decreased on Wednesday during the Asian and European sessions because the hope for resolving the political and debt problems in Italy and Greece were not justified. The EUR/USD pair steeply fell to the area of ??$1.3605 area. The US dollar strengthened against the majority of its main competitors, because of the increased demand for “safe-haven” status currencies. And the GBP/USD pair fell below the $1.5940 mark.
The yen rose against most currencies, despite of the fact that the BOJ promised to weaken its national currency. The USD/JPY pair traded in the Y77.52 - Y77.75 range. Traders continued to see the yen as a safe-haven currency.
The New Zealand dollar fell against major currencies on Wednesday after the slowdown in consumer prices and industrial production in China.
The Euro rose against major currencies and partially rehabilitated some of its yesterday losses on Thursday. The EUR/USD pair grew above the mark of $1.3650. The EUR was supported by the fact that the ECB began to buy Italian government bonds.
The Japanese yen strengthened against most of its major partners, as traders continued to consider its save–heaven status. During the both trading sessions the USD/JPY pair traded in the range of Y77,55 - Y77,85.
Meanwhile the Canadian dollar fell to its lowest level in three weeks against the US Dollar due to the growth of the U.S. dollar as the " safe haven " currency.
Investors' fears regarding the debt crisis decreased after the S & P agency confirmed that the credit rating of France, the second largest economy in the region, remained at AAA. Euro recovered from its lows against the US dollar.
During the last day of the week, the release of the positive news from Europe supported the euro. The new Prime Minister of Greece, Lukas Papadimas, took an oath on Friday and in Italy a new bill aimed to reduce the debt has been approved. As a result, the EUR/USD pair reached the $1.37 level and the GBP/USD grew to the $1,60 mark.
________________________________________
WEEKLY TECHNICAL ANALYSIS FOR 14.11 - 18. 11, 2011
EURUSD
If 1.37441 is broken the pair will decline to 1.33427.
Resistance: 1.41130, 1.44835, 1.47697
Support: 1.37441, 1.33427, 1.28800
GBPUSD
The pair has tested Moving Average (100) at 1.59962. If the pair stays below this level the pair will decline to Fibonacci 23% at 1.53340.
Resistance: 1.64274, 1.68504, 1.72652
Support: 1.59962, 1.52523, 1.48532
USDCHF
The pair is trying to stay above 0.88022 this will bring pair to test resistance at 0.91074.
Resistance: 0.91074, 0.93264, 0.96597
Support: 0.88022, 0.85633, 0.82723
USDJPY
The pair has tested resistance level at 80.244 and may roll back to 76.535.
Resistance: 80.244, 83.330, 86.836
Support: 76.535, 73.126, 69,117
AUDUSD
The pair has broken 1.03847 and aiming to 1.01873.
Resistance: 1.03847, 1.05810, 1.07806
Support: 1.01873, 1.00031, 0.97889
VISIT A FREE FOREX NEWS PORTAL AT FX2DAY.NET
Free news, technical analysis, expert advice and more at the free forex news portal fx2day.net
Stay up to date with daily forex news and events and join trader's community to communicate with other market participants.
Ask an expert a question about trading.
Read tons of education material and articles.
Fx2day.net is the place where traders get news from.
________________________________________
GET A 35% TRADING BONUS WHEN YOU OPEN A NEW ACCOUNT.
A new bonus promotion has started. If you are just about to fund your trading account for a first time you may be eligible for a 35% bonus or maximum of $15,000. The full bonus conditions are available at https://forex-metal.com/discount/bonus35.
If you would like to take advantage of this new promotion please contact our support team at payments@forex-metal.com .
Don't have an account yet? Maybe it is time to open one?
Open the new trading account here https://forex-metal.com/accounts/new_2 to be eligible for this and other great promotions.
. 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. Visit a free forex news portal at fx2day.net
4. Get a 35% trading bonus when you open a new account.
6. Representatives Wanted!
________________________________________
WEEKLY REVIEW FOR 7.11 - 11. 11, 2011
During the previous week the euro was under pressure against major currencies due to concerns of market participants about the political instability in Italy. Another negative factor was a released report on industrial production in Germany on Monday, which showed a big slowdown in September by 2.7% versus forecasted -0,9 %.
On the other hand, the euro retreated from its daily lows at $1.3682 on the same day against the US Dollar amid speculation that the Italian Prime Minister Berlusconi may soon resign. Supported by those rumours the EUR/USD pair strengthened and reached the $1.3812 area and remained trading around this level in spite of the fact that Berlusconi himself had actually denied those speculations. At the same time the GBP/USD pair traded around its November highs at $1.6040 area, which confirmed the willingness of investors to buy the British currency as a sort of alternative investments.
After the meeting of the Italian President and the Prime Minister Berlusconi, it was announced that the Prime Minister would resign. This lead to the growth of the euro against the US dollar on Tuesday.
Canadian dollar grew against the major 16 currencies after the three-months’ maximum which was reached by the oil.
Euro decreased on Wednesday during the Asian and European sessions because the hope for resolving the political and debt problems in Italy and Greece were not justified. The EUR/USD pair steeply fell to the area of ??$1.3605 area. The US dollar strengthened against the majority of its main competitors, because of the increased demand for “safe-haven” status currencies. And the GBP/USD pair fell below the $1.5940 mark.
The yen rose against most currencies, despite of the fact that the BOJ promised to weaken its national currency. The USD/JPY pair traded in the Y77.52 - Y77.75 range. Traders continued to see the yen as a safe-haven currency.
The New Zealand dollar fell against major currencies on Wednesday after the slowdown in consumer prices and industrial production in China.
The Euro rose against major currencies and partially rehabilitated some of its yesterday losses on Thursday. The EUR/USD pair grew above the mark of $1.3650. The EUR was supported by the fact that the ECB began to buy Italian government bonds.
The Japanese yen strengthened against most of its major partners, as traders continued to consider its save–heaven status. During the both trading sessions the USD/JPY pair traded in the range of Y77,55 - Y77,85.
Meanwhile the Canadian dollar fell to its lowest level in three weeks against the US Dollar due to the growth of the U.S. dollar as the " safe haven " currency.
Investors' fears regarding the debt crisis decreased after the S & P agency confirmed that the credit rating of France, the second largest economy in the region, remained at AAA. Euro recovered from its lows against the US dollar.
During the last day of the week, the release of the positive news from Europe supported the euro. The new Prime Minister of Greece, Lukas Papadimas, took an oath on Friday and in Italy a new bill aimed to reduce the debt has been approved. As a result, the EUR/USD pair reached the $1.37 level and the GBP/USD grew to the $1,60 mark.
________________________________________
WEEKLY TECHNICAL ANALYSIS FOR 14.11 - 18. 11, 2011
EURUSD
If 1.37441 is broken the pair will decline to 1.33427.
Resistance: 1.41130, 1.44835, 1.47697
Support: 1.37441, 1.33427, 1.28800
GBPUSD
The pair has tested Moving Average (100) at 1.59962. If the pair stays below this level the pair will decline to Fibonacci 23% at 1.53340.
Resistance: 1.64274, 1.68504, 1.72652
Support: 1.59962, 1.52523, 1.48532
USDCHF
The pair is trying to stay above 0.88022 this will bring pair to test resistance at 0.91074.
Resistance: 0.91074, 0.93264, 0.96597
Support: 0.88022, 0.85633, 0.82723
USDJPY
The pair has tested resistance level at 80.244 and may roll back to 76.535.
Resistance: 80.244, 83.330, 86.836
Support: 76.535, 73.126, 69,117
AUDUSD
The pair has broken 1.03847 and aiming to 1.01873.
Resistance: 1.03847, 1.05810, 1.07806
Support: 1.01873, 1.00031, 0.97889
VISIT A FREE FOREX NEWS PORTAL AT FX2DAY.NET
Free news, technical analysis, expert advice and more at the free forex news portal fx2day.net
Stay up to date with daily forex news and events and join trader's community to communicate with other market participants.
Ask an expert a question about trading.
Read tons of education material and articles.
Fx2day.net is the place where traders get news from.
________________________________________
GET A 35% TRADING BONUS WHEN YOU OPEN A NEW ACCOUNT.
A new bonus promotion has started. If you are just about to fund your trading account for a first time you may be eligible for a 35% bonus or maximum of $15,000. The full bonus conditions are available at https://forex-metal.com/discount/bonus35.
If you would like to take advantage of this new promotion please contact our support team at payments@forex-metal.com .
Don't have an account yet? Maybe it is time to open one?
Open the new trading account here https://forex-metal.com/accounts/new_2 to be eligible for this and other great promotions.
. 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.
________________________________________