Archive for January 2011
Forex-Metal Weekly Newsletter
https://forex-metal.com/newsletters/187
https://forex-metal.com/newsletters/186
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 dollarâ€. 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 ECâ€. 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
________________________________________
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Forex-Metal Daily Analysis -27/01/2011
https://forex-metal.com/news_posts
FOMC meeting decision.
Asian and European trading sessions:
Euro: 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 today. Expectations for the strong EC fundamentals release tomorrow supported the euro as well.
US Dollar: On Wednesday the greenback was mainly under pressure and decreased against major currencies.
British Pound: The released today 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.
Japanese Yen: The USD/JPY pair reached maximums at the level of Y82.20, and traded around the Y82 mark.
Oil: Oil traded at the range of $86.45 mark per barrel. During the day the rate grew and reached the $86.70 level.
American trading session:
US Dollar: 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.
New-Zealand Dollar: Today the Reserve Bank of New-Zealand left the principal rate unchanged at the level of 3.00%.
Technical analysis for 27/01
EURUSD
The pair is under resistance 1.37486. If the pair stays above this level the pair will rise to 1.38554. If the pair stays below 1.37486 the pair will decline to 1.35984.
Resistance: 1.37486, 1.38554, 1.39600
Support: 1.35984, 1.34882, 1.33143
GBPUSD
The pair was unable to break 1.60322 and may decline to 1.56722 if stays below 1.58543.
Resistance: 1.60322, 1.62050, 1.63316
Support: 1.58543, 1.56722, 1.54842
USDCHF
The pair has broken 0.95125. If the pair stays below this level the pair may decline to 0.93435.
Resistance: 0.95125, 0.96574, 0.98114
Support: 0.93435, 0.91658, 0.89710
USDJPY
The pair is aiming to 82.219 if stays below this level the pair may decline to 81.399.
Resistance: 83.065, 83.933, 84.866
Support: 82.219, 81.399, 80.438
AUDUSD
The pair is aiming to 0.99207 if this level is broken the pair will decline to 0.98436.
Resistance: 1.00067, 1.00907, 1.01744
Support: 0.99207, 0.98436, 0.97424
Forex-Metal Daily Analysis -26/01/2011
https://forex-metal.com/news_posts
Risk appetite is suppressed.
Asian and European trading sessions:
Euro: On Tuesday the EUR/USD pair traded at the $1,3690 level during the Asian trading session. Minimums were reached at the $1.3578 mark.
British Pound: Today 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.
Japanese Yen: 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%.
Australian Dollar: 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.
Oil: Oil rate decreased to the level of $86.50 per barrel.
Gold: Gold prices also dropped to the $1,326 mark per ounce.
American trading session:
US Dollar: Stock markets decrease supported the demand for the save-haven currencies.
Technical analysis for 26/01
EURUSD
The pair has reached Moving Average (500) at 1.36775 which is a resistance level for the pair. The pair needs to close above this level to be able to continue rising to 1.37486. If the pair stays below 1.36775 the pair will decline to 1.35984.
Resistance: 1.37486, 1.38554, 1.39600
Support: 1.35984, 1.34882, 1.33143
GBPUSD
The pair was unable to break 1.62050 and declining to 1.56722.
Resistance: 1.585431.60322, 1.62050
Support: 1.56722, 1.54842, 1.53482
USDCHF
The pair has declined to 0.95125. If the pair stays below this level the pair may decline to 0.93435.
Resistance: 0.95125, 0.96574, 0.98114
Support: 0.93435, 0.91658, 0.89710
USDJPY
The pair is aiming to 82.219 if stays below this level the pair may decline to 81.399.
Resistance: 83.065, 83.933, 84.866
Support: 82.219, 81.399, 80.438
AUDUSD
The pair is aiming to 0.99207 if this level is broken the pair will decline to 0.98436.
Resistance: 1.00067, 1.00907, 1.01744
Support: 0.99207, 0.98436, 0.97424
Forex-Metal Daily Analysis -25/01/2011
https://forex-metal.com/news_posts
Collapse of the political coalition of Ireland supported the greenback.
Asian and European trading sessions:
Euro: 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.
According to some experts’ opinion, the technical correction of the euro is taking place after the former growth of the single currency.
US Dollar: Beginning of the current week saw the US dollar weakening.
British Pound: The sterling incurred losses due to the negative forecasts of the UK GDP data, which is planned for tomorrow.
The GBP/USD pair dropped to $1.5920 minimums.
Japanese Yen: The USD/JPY pair showed maximums at the Y82.90 range.
Australian Dollar: The released on Monday Producer price index data happened to be below expectations, therefore, the Australian dollar rate dropped.
Oil: The oil rate started to decrease, and the price reached the $88.20 level per barrel.
American trading session:
US Dollar: Expectations for the positive release of the US data on Tuesday supported the greenback as well. The Consumer confidence is expected to grow and reach 54.3 mark for January.
Technical analysis for 25/01
EURUSD
The pair has reached Moving Average (500) at 1.36775 which is a resistance level for the pair. The pair needs to close above this level to be able to continue rising to 1.37486. If the pair stays below 1.36775 the pair will decline to 1.35984.
Resistance: 1.37486, 1.38554, 1.39600
Support: 1.35984, 1.34882, 1.33143
GBPUSD
The pair may rise to median line at 1.62050 if breaks 1.60322.
Resistance: 1.60322, 1.62050, 1.63316
Support: 1.58543, 1.56722, 1.54842
USDCHF
The pair has declined to 0.95125. If the pair stays below this level the pair may decline to 0.93435.
Resistance: 0.95125, 0.96574, 0.98114
Support: 0.93435, 0.91658, 0.89710
USDJPY
The pair is aiming to 82.219 if stays below this level the pair may decline to 81.399.
Resistance: 83.065, 83.933, 84.866
Support: 82.219, 81.399, 80.438
AUDUSD
The pair is aiming to 0.99207 if this level is broken the pair will decline to 0.98436.
Resistance: 1.00067, 1.00907, 1.01744
Support: 0.99207, 0.98436, 0.97424
Forex-Metal Weekly Newsletter
https://forex-metal.com/newsletters/184
https://forex-metal.com/newsletters/185
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. Get a free ATM card
5. Representatives Wanted!
________________________________________
1. WEEKLY REVIEW FOR 17 – 21 01, 2011
Previous week saw various factors, which rendered pressure on the greenback. Only on Monday growing concern over the Euro-Zone crises spreading pressured the euro. Therefore, the euro lost its previously reached maximums. Market participants did not expect any support for the euro from the results of the European Finance Ministers in Brussels. Germany was against increasing of the size of the fund assistance to the EU crises victims. As a result, the EUR/USD pair dropped to $1.3240. US financial markets were closed on Monday due to the celebration of the Martin Luther King Day.
The released European data happened to be positive on Tuesday. The Euro-zone ZEW survey (economic sentiment) hit the 25.4 high, when the forecast was at the 16.6 level. And after the minimums of $1,3260, the EUR/USD pair grew to $1.3428 maximum. By the end of the day the EUR/USD managed to hit a new maximum of $1.3465. Sterling showed maximums due to the publication of the positive UK data on Tuesday. The UK data turned out to be even stronger, than forecasted. The consumer price index showed the 3.7% against its expected level of 3.4%. The retail price index turned out to be at the forecasted level of 228.4. In addition, the Nationwide consumer confidence grew to 53 against the expected level of 44. As a result, the GBP/USD pair reached maximums at the level of $1.6050. Expectations for the increase of the principal rate by the Bank of England reinforced.
According to the expectations, the Bank of Canada left the interest rate unchanged at the level of 1.00% on Tuesday. Canadian dollar dropped against the US dollar.
On Wednesday the EUR/USD managed to reach the $1.3537 maximums. According to the forecasts, the US housing starts dropped in December to 529K against the expected 550K, which was a sign of the economical growth rate slow down. Employment data was forecasted to be negative as well. In addition, the greenback was pressured by the Chinese Yuan.
The sterling continued to trade around the reached maximums against the greenback on Wednesday morning. Weakening of the US dollar supported the pound. In addition, the UK jobless claims dropped to 4.1K in December (this decline in jobless claims marked the lowest level in 21 months), the Claimant count rate turned out to be at the forecasted level of 4.5%. The GBP/USD pair grew and hit daily maximums at the $1.6036 mark. Nevertheless, the sterling was lower against other major currencies.
On Thursday the euro rate grew against the yen and the pound after the release of the Euro-zone data. The German annualized producer prices increased for 0.7% when the forecasted level was at the 0.5%. Meanwhile the EUR/USD managed to hit the $1.35 range, but only temporarily.
At the same time the greenback received substantial support, as the released Chinese data pressured the commodity currencies. Concerns over the possibility that China would undertake additional measures aimed to cool down the economic growth, reduced the demand for the raw materials. High-risk assets were pressured. Chinese Gross Domestic Product grew for 9.8% against the expected growth for 9.4%. Consumer price index grew for 4.6% and the Industrial production increased for 15.7%.
The GBP/USD pair managed to grow and reach maximums of $1.6010, but later on the sterling decreased to $1.5850. At the same time the yen rate grew as demand for the save-haven currencies increased. The USD/JPY pair traded in the range of Y82.00 – Y82.30.
By the end of the day on Thursday the EUR/USD pair dropped to as low as $1.34. The US dollar showed additional growth after the publication of the US fundamentals, and consolidated against its competitors. Initial jobless claims dropped to 404K against the forecasted 420K. Existing home sales grew to 5.28M against the expected 4.87M. The leading indicators increased for 1.0%.
After the positive day for greenback on Thursday, Friday demonstrated considerable weakness for the US dollar. Strong Euro-zone fundamentals rendered support to the euro and to the sterling both. The released German IFO business climate indicator turned out to be above expectations. Demand for the high-risk assets increased, and the EUR/USD pair reached the $1.36 maximums.
Happy trading!
________________________________________
2. WEEKLY TECHNICAL ANALYSIS FOR 24 – 28. 01, 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
If the pair stays below 0.96526 the pair will decline to 0.93770. If the pair breaks 0.96526 the pair will rise to the channel line at 1.00233.
Resistance: 0.96525, 0.99031, 1.01369
Support: 0.93770, 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.
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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.
Forex-Metal Daily Analysis -21/01/2011
https://forex-metal.com/news_posts
Released Chinese data pressured the high-risk assets.
Asian and European trading sessions:
Euro: On Thursday the euro rate grew against the yen and the pound after the release of the Euro-zone data. The German annualized producer prices increased for 0.7% when the forecasted level was at the 0.5%.
Meanwhile the EUR/USD managed to hit the $1.35 range, but only temporarily.
US Dollar: The greenback received substantial support, as the released Chinese data pressured the commodity currencies. Concerns over the possibility that China would undertake additional measures aimed to cool down the economic growth, reduced the demand for the raw materials. High-risk assets were pressured.
Chinese Gross Domestic Product grew for 9.8% against the expected growth for 9.4%. Consumer price index grew for 4.6% and the Industrial production increased for 15.7%.
British Pound: The GBP/USD pair managed to grow and reach maximums of $1.6010, but later on the sterling decreased to $1.5850.
Japanese Yen: The yen rate grew as demand for the save-haven currencies increased. The USD/JPY pair traded in the range of Y82.00 – Y82.30.
Oil: The oil traded around the $89.19 level.
American trading session:
Euro: By the end of the day the EUR/USD pair dropped to $1.34.
US Dollar: The US dollar showed additional growth after the publication of the US fundamentals, and consolidated against its competitors. Initial jobless claims dropped to 404K against the forecasted 420K. Existing home sales grew to 5.28M against the expected 4.87M. The leading indicators increased for 1.0%.
Forex-Metal Daily Analysis -20/01/2011
https://forex-metal.com/news_posts
The greenback weakness pushed euro higher.
Asian and European trading sessions:
Euro: Today the EUR/USD managed to reach the $1.3537 maximums.
US Dollar: US Dollar demonstrated weakening as market participants were expecting negative US fundamentals.
According to the forecasts, the US housing starts dropped in December to 529K against the expected 550K, which was a sign of the economical growth rate slow down. Employment data is forecasted to be negative as well.
In addition, the greenback was pressured by the Chinese Yuan.
British Pound: The sterling continued to trade around the reached maximums against the greenback on Wednesday morning. Weakening of the US dollar supported the pound. In addition, the UK jobless claims dropped to 4.1K in December (this decline in jobless claims marked the lowest level in 21 months), the Claimant count rate turned out to be at the forecasted level of 4.5%.
The GBP/USD pair grew and hit daily maximums at the $1.6036 mark. Nevertheless, the sterling was lower against other major currencies.
Japanese Yen: The USD/JPY rate showed minimums at the level of Y81.82.
Oil: Oil rate grew to the $92.93 mark per barrel.
Gold: Gold traded in the range of $1,367.80 level per ounce.
American trading session:
Euro: In spite of the reached maximums, the euro weakened at the end of the trading day.
British Pound: The sterling decreased by the end of the day as well, and the GBP/USD pair dropped a little below the $1.60 level.
Technical analysis for 20/01
EURUSD
The pair needs to break strong resistance at 1.34882 to be able to continue rising. The pair may roll back to support at 1.33143.
Resistance: 1.34882, 1.35984, 1.37486
Support: 1.33143, 1.31674, 1.30277
GBPUSD
The pair has reached 1.60322 and rolling back to 1.58543.
Resistance: 1.60322, 1.62050, 1.63316
Support: 1.58543, 1.56722, 1.54842
USDCHF
The pair stays below 0.96574. The pair may decline to 0.95125.
Resistance: 0.96574, 0.98114, 0.99202
Support: 0.95125, 0.93435, 0.91658
USDJPY
The pair is trying to stay below 82.219, the pair may decline to 81.399.
Resistance: 83.065, 83.933, 84.866
Support: 82.219, 81.399, 80.438
AUDUSD
The pair is aiming to 0.99207, if this level is broken the pair will continue declining.
Resistance: 1.00067, 1.00907, 1.01744
Support: 0.99207, 0.98436, 0.97424
Forex-Metal Daily Analysis -19/01/2011
https://forex-metal.com/news_posts
Strong Euro-zone fundamentals supported the euro.
Asian and European trading sessions:
Euro: The released European data happened to be positive on Tuesday. The Euro-zone ZEW survey (economic sentiment) hit the 25.4 high, when the forecast was at the 16.6 level. And after the minimums of $1,3260, the EUR/USD pair grew to $1.3428 maximum.
US Dollar: Greenback was supported by the expectations of the positive US fundamentals‘ release planned for this week.
British Pound: Sterling showed maximums due to the publication of the positive UK data on Tuesday. The UK data turned out to be even stronger, than forecasted. The consumer price index showed the 3.7% against its expected level of 3.4%. The retail price index turned out to be at the forecasted level of 228.4. In addition, the Nationwide consumer confidence grew to 53 against the expected level of 44.
As a result, the GBP/USD pair reached maximums at the level of $1.6050. Expectations for the increase of the principal rate by the Bank of England reinforced.
Japanese Yen: The USD/JPY pair traded in the range of Y82.30 – Y82.60.
Canadian Dollar: According to the expectations, the Bank of Canada left the interest rate unchanged at the level of 1.00%. Canadian dollar dropped against the US dollar.
Oil: Oil prices showed some reduction today and traded around the $90.99 level per barrel.
Gold: “Yellow metal†traded around the $1,374.50 range per ounce.
American trading session:
Euro: The EUR/USD managed to hit a new maximum of $1.3465.
US Dollar: By the end of the day the greenback managed to rehabilitate against its competitors.
Technical analysis for 19/01
EURUSD
The pair needs to break strong resistance at 1.34882 to be able to continue rising.
Resistance: 1.34882, 1.35984, 1.37486
Support: 1.33143, 1.31674, 1.30277
GBPUSD
The pair has broken 1.58543 and aiming to 1.60322. Support is at 1.58543.
Resistance: 1.60322, 1.62050, 1.63316
Support: 1.58543, 1.56722, 1.54842
USDCHF
The pair stays below 0.96574. The pair may decline to 0.95125.
Resistance: 0.96574, 0.98114, 0.99202
Support: 0.95125, 0.93435, 0.91658
USDJPY
The pair’s resistance is 83.065. Support is 82.219. If the pair breaks 82.219 the will decline to 81.399.
Resistance: 83.065, 83.933, 84.866
Support: 82.219, 81.399, 80.438
AUDUSD
The pair is trying to rise and aiming to 1.00907.
Resistance: 1.00067, 1.00907, 1.01744
Support: 0.99207, 0.98436, 0.97424
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Forex-Metal Daily Analysis -18/01/2011
The euro drops ahead of the European Finance Ministers meeting.
Asian and European trading sessions:
Euro: Growing concerns over the Euro-Zone crises spreading pressured the euro on Monday. Therefore, the euro lost its reached maximums during the previous week. Market participants did not expect any support for the euro from the results of the European Finance Ministers in Brussels. Germany was against increasing of the size of the fund assistance to the EU crises victims.
As a result, the EUR/USD pair dropped to $1.3240.
British Pound: The sterling was supported by the expectations for the strong UK fundamentals, planned for Tuesday. The Consumer price index is forecasted to grow to 3.4%, and the Retail price index is expected to get as high as 4.8%. As a result, the GBP/USD rate hit the $1.5955 maximum.
Japanese Yen: The USD/JPY pair traded in the range of Y83.00 – Y82.30.
Canadian Dollar: Canadian dollar rate is waiting for the direction from the Bank of Canada interest rate decision, which is planned for Tuesday and forecasted at 1.00%. Last week the Canadian dollar grew against the greenback.
Australian Dollar: The flood continued to render substantial pressure on the Australian dollar.
American trading session:
US financial markets were closed on Monday due to the celebration of the Martin Luther King Day.
Technical analysis for 18/01
EURUSD
The pair is trading below Moving Averages (200 and 100) it may lead pair to decline to 1.31674.
Resistance: 1.33143, 1.34882, 1.35984
Support: 1.31674, 1.30277, 1.28630
GBPUSD
The pair has broken 1.58543 and aiming to 1.60322. Support is at 1.58543.
Resistance: 1.60322, 1.62050, 1.63316
Support: 1.58543, 1.56722, 1.54842
USDCHF
The pair may trade between 0.98114 and 0.96574. If the pair breaks 0.96574 the pair will decline to 0.95699.
Resistance: 0.98114, 0.99202, 1.00168
Support: 0.96574, 0.95125, 0.93435
USDJPY
The pair’s resistance is 83.933. Support is 82.219. If the pair breaks 82.219 the will decline to 81.399.
Resistance: 83.065, 83.933, 84.866
Support: 82.219, 81.399, 80.438
AUDUSD
If 0.98436 is broken the pair will decline to 0.97423.
Resistance: 1.00067, 1.00907, 1.01744
Support: 0.99207, 0.98436, 0.97424
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