Archive for May 2011
Forex-Metal Daily Analysis -31/05/2011
Forex-Metal Daily Analysis -31/05/2011
The New-Zealand dollar hits record-breaking maximum.
Asian and European trading sessions:
New-Zealand Dollar: 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 on Monday.
Euro: EUR/USD pair showed minimums of the $1.4255 mark. 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.
During the European trading session the EUR/USD showed temporary rehabilitation and reached the $1.4284 mark.
US Dollar: The greenback continued its weak dynamics during the morning trading, but managed to rehabilitate a little against the pressured euro.
British Pound: GBP/USD tested the range of $1.6460- $1.6450.
Japanese Yen: The USD/JPY pair traded in the range of Y80.75- Y80.90. Japanese yen was supported as a save-heaven against the background of the weakening euro.
Oil: Oil traded on Monday around the $100.43 level per barrel.
Gold: Gold rate increased over the concerns of the European problems, and hit the $1539 maximums per ounce.
American trading session:
US Dollar: American and UK financial markets are closed today, due to the celebration of the national holidays.
http://ping.fm/cdTzJ
Technical analysis for 31/05
EURUSD
The pair has found support at 1.39600 and aiming to 1.44400.
The pair has broken daily channel and aiming to 1.39600.
Resistance: 1.44400, 1.46222, 1.4732
Support: 1.42996, 1.41780, 1.40690
GBPUSD
The pair has grown up to 1.65706. If this level is broken the pair will rise to 1.67165.
Resistance: 1.65706, 1.67165, 1.68756
Support: 1.64636, 1.63316, 1.62050
USDCHF
The pair has declined to the channel line at 0.84685. This level may give support and the pair may roll back to 0.85939.
Resistance: 0.85939, 0.87214, 0.88418
Support: 0.84685, 0.83541, 0.82483
USDJPY
The pair is aiming to Moving Average (100) 82.219. If this level is broken the pair will rise to 83.065.
Resistance: 82.219, 83.065, 83.933
Support: 81.399, 80.438, 79.707
AUDUSD
The pair has risen to 1.07005. If the pair closes below this level the pair will decline to 1.06164.
Resistance: 1.07005, 1.07739, 1.08413
Support: 1.06164, 1.05332, 1.04407
http://ping.fm/tJNfD
Forex Metal Newsletter
Forex Metal Newsletter
https://forex-metal.com/newsletters/220
Market review for 23 – 27. 05, 2011
https://forex-metal.com/newsletters/221
Weekly technical analysis for 30.05 – 3.06
IN THIS ISSUE:
1. Weekly market review from Forex-Metal.
2. Weekly technical analysis.
3. Spreads are reduced on exotic pairs.
4. Get a 30% trading bonus when you open a new account.
5. Representatives Wanted!
________________________________________
WEEKLY REVIEW FOR 23 – 27. 05, 2011
Last week demonstrated diverse trading dynamics of the major currencies. Concerns over the possible reduction of the credit rating of Italy by Standard & Poor’s credit agency, pressured the euro on Monday. Reduction of the credit rating of Greece continued to have a negative influence on the euro as well. European budget crises pushed investors’ optimism lower. During the elections to local authorities, that just took place in Spain, the opposition People’s Party received most of the votes, which rendered additional pressure on the euro. Released on the same day European PMI indices turned out to be below the forecasts and lower previous month’s levels. For example, the Euro-zone PMI (composite) index was 55.4 against expected 57.3. The EUR/USD pair dropped to the $1.4060 minimums. European trading session showed minimums of $1.3970. The GBP/USD pair dropped to the $1.6110 level.
The euro started its growth during the Asian trading session on Tuesday and reached the $1.4060 mark. After the release of the European statistics on Tuesday, the euro continued its growth. German IFO – Business Climate, Current Assessment and Expectations for May turned out to be above expectations. As a result, expectations for the increase of the Euro-zone principal rate reinforced. According to the experts’ expectations, the European budget crises would reinforce and return to the focus of the market very soon.
Publication of the UK weak fundamentals on Tuesday pressured the sterling. Increase of the Public sector net borrowing volume had a negative impact on the national currency. But major pressure came from the statement of the Moody’s credit agency about the decrease of the credit ratings of the number of British banks. At the same time the CBI Reported sales happened to be above forecasts: 18 against expected 11. Therefore, the GBP/USD grew to the $1.6180 level.
Greenback was pressured during the American session after the release of the negative Richmond Fed Manufacturing index, which dropped to -6 against the positive forecast of 9. As a result, the EUR/USD pair grew and reached the $1,4130 maximum and the GBP/USD pair reached the $1,6200 mark.
Uncertainty and lack of consensus with the Greek budget problems pressured the euro on Wednesday. The EUR/USD pair showed minimums at the $1.4000 level. Later on the euro managed to strengthen and reach the $1.4070. Swiss frank set a new historical maximum against the euro on Wednesday. Concerns regarding the possible slow-down of the economic rehabilitation of the region as a result of the European debt crises, pressured the euro. At the same time, possibility of the principal rates increase by the Central bank of Switzerland, supported the national currency. The GBP/USD pair decreased to the minimums of $1.6130 during the Asian trading session on the same day. The released UK GDP data turned out to be at the expected level. The quarterly GDP demonstrated the 0.5% level, the yearly GDP showed 1.8% level. The GBP/USD pair grew above the $1.6200 maximums.
Euro managed to grow against the US dollar on Thursday and kept its reached positions. The head of the ECB, Jean-Claude Trichet, supported the euro by his statement, that the ECB is watching the inflations closely, which reinforced the speculations that the interest rates could be increased. In the morning the euro was supported by the possibility that China was going to increase its volume of purchases of European countries’ bonds. Therefore, the positive expectations for the rehabilitation of the Euro-zone budget crises increased. The EUR/USD pair reached maximums of $1.4190 mark.
The Australian dollar rate strengthened on the same day against its competitors after the release of the Private capital expenditures in the first quarter in Australia. This indicator grew for 3.4% against the expected increase for 2.7%.
Greenback decreased against the yen and the Swiss frank after the release of the weak US fundamentals during the second part of the day on Thursday. The Annualized GDP dropped below expectations and the Initial jobless claims grew above forecasts.
On Friday greenback demonstrated its negative move against all major currencies. The released on that day American consumer expenditures growth turned out to be below expectations. As a result, possibility of the interest rates increase in the US dropped.
Happy trading!
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WEEKLY REVIEW FOR 30.05 – 3.06, 2011
EURUSD
The pair is trading around support 1.41130, if the pair closes below this level the pair will decline to the next level at 1.37441.
Resistance: 1.44835, 1.47697, 1.50676
Support: 1.41130, 1.37441, 1.33427
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 below 0.85633. it may bring pair to decline to the next support level at 0.82723.
Resistance: 0.88022, 0.91074, 0.93264
Support: 0.85633, 0.82723, 0.79957
USDJPY
The pair couldn’t rise to 83.330 and may decline 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
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NEW LOW SPREADS ON USDNOK AND USDSEK
Forex-Metal is pleased to announce the reduction of spreads on USDNOK and USDSEK currency pairs. The tightening of spreads and the recent introduction of six new currency pairs will give Forex-Metal’s clients an opportunity to trade a wider choice of exotic currency pairs with the tightest spreads available in the market.
Forex-Metal views spreads tightening and providing a commission-free trading as one of its priorities. As a market-maker, Forex-Metal does not charge a commission for trading but is compensated for its services through a spread between bid/ask prices. The Company is committed to providing its clients with the best trading conditions through the Metatrader platform, including very competitive low spreads starting from 1 pip, zero commission, instant execution of orders, no-swap and Islamic accounts, ability to trade all instruments from a single account, rebates to active traders, free mobile, iPhone, and Android trading applications.
The full list of currency pairs and spreads offered can be viewed at
https://forex-metal.com/home/contract_parameters
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Forex-Metal Daily Analysis -27/05/2011
Forex-Metal Daily Analysis -27/05/2011
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Euro showed continuous growth, while greenback dropped.
Asian and European trading sessions:
Euro: Euro managed to grow against the US dollar on Thursday and kept its reached positions. The head of the ECB, Jean-Claude Trichet, supported the euro by his statement, that the ECB is watching the inflations closely, which reinforced the speculations that the interest rates could be increased.
In the morning the euro was supported by the possibility that China was going to increase its volume of purchases of European countries’ bonds. Therefore, the positive expectations for the rehabilitation of the Euro-zone budget crises increased.
The EUR/USD pair reached maximums of $1.4190 mark.
British Pound: The GBP/USD consolidated at the level of $1.6300 level. Maximums were reached at the $1.6330 mark.
Japanese Yen: The JPY/USD showed minimums at the Y81.70 level and then returned to the Y82.00 mark.
Australian Dollar: The Australian dollar rate strengthened against its competitors after the release of the Private capital expenditures in the first quarter in Australia. This indicator grew for 3.4% against the expected increase for 2.7%.
Oil: Oil prices increased and traded at the level of $100.98 mark per barrel.
Gold: Gold traded around the $1,524 mark per ounce.
American trading session:
US Dollar: Greenback decreased against the yen and the Swiss frank after the release of the weak US fundamentals. The Annualized GDP dropped below expectations and the Initial jobless claims grew above forecasts.
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Forex-Metal Daily Analysis -25/05/2011
Forex-Metal Daily Analysis -25/05/2011
http://ping.fm/DWrIM
Positive Euro-zone statistics rendered temporary support for the euro.
Asian and European trading sessions:
Euro: The euro started its growth during the Asian trading session and reached the $1.4060 mark. After the release of the European statistics on Tuesday, the euro continued its growth. German IFO – Business Climate, Current Assessment and Expectations for May turned out to be above expectations. As a result, expectations for the increase of the Euro-zone principal rate reinforced.
According to the experts’ expectations, the European budget crises would reinforce and return to the focus of the market very soon.
British Pound: Publication of the UK weak fundamentals on Tuesday pressured the sterling. Increase of the Public sector net borrowing volume had a negative impact on the national currency. But major pressure came from the statement of the Moody’s credit agency about the decrease of the credit ratings of the number of British banks.
At the same time the CBI Reported sales happened to be above forecasts: 18 against expected 11. Therefore, the GBP/USD grew to the $1.6180 level.
Japanese Yen: The USD/JPY pair showed minimums at the level of Y81.60 and started to rehabilitate.
Oil: Oil rate demonstrated strengthening due to the released forecast of Goldman Sachs and Morgan Stanley with expectations for the increased Brent oil prices.
American trading session:
US Dollar: Greenback was pressured during the American session after the release of the negative Richmond Fed Manufacturing index, which dropped to -6 against the positive forecast of 9.
As a result, the EUR/USD pair grew and reached the $1,4130 maximum and the GBP/USD pair reached the $1,6200 mark.
http://ping.fm/SxcOb
Technical analysis for 25/05
EURUSD
The pair has broken daily channel and aiming to 1.39600.
Resistance: 1.40690, 1.41780, 1.42996
Support: 1.39600, 1.38554, 1.37486
GBPUSD
The pair stays below 1.62050 it will bring pair to decline to 1.60322.
Resistance: 1.62050, 1.63316, 1.64636
Support: 1.60322, 1.58543, 1.56722
USDCHF
If the pair breaks 0.88418 the pair will rise to 0.89635.
Resistance: 0.88418, 0.89635, 0.91079
Support: 0.87214, 0.85939, 0.84685
USDJPY
The pair is trying to decline below 81.399. It will bring pair to 80.438.
Resistance: 82.219, 83.065, 83.933
Support: 81.399, 80.438, 79.707
AUDUSD
The pair has declined to 1.05322. If this level is broken the pair will decline to 1.04407.
Resistance: 1.06164, 1.07005, 1.07739
Support: 1.05332, 1.04407, 1.03535
http://ping.fm/gmyu3
Forex-Metal Daily Analysis -24/05/2011
Forex-Metal Daily Analysis -24/05/2011
Greenback is strengthening against all competitors.
Asian and European trading sessions:
Euro: Concerns over the possible reduction of the credit rating of Italy by Standard & Poor’s credit agency, pressured the euro on Monday. Reduction of the credit rating of Greece on last Friday continued to have a negative influence on the euro as well. European budget crises pushed investors’ optimism lower.
During the elections to local authorities, that just took place in Spain, the opposition People’s Party received most of the votes, which rendered additional pressure on the euro.
Released today European PMI indices turned out to be below forecasts and lower previous month’s levels. For example, the Euro-zone PMI (composite) index was 55.4 against expected 57.3.
The EUR/USD pair dropped to the $1.4060 minimums. European trading session showed minimums of $1.3970.
US Dollar: Greenback was supported as a save-heaven currency today, and strengthened against all its competitors.
British Pound: The GBP/USD pair dropped to the $1.6110 level.
Japanese Yen: The USD/JPY pair demonstrated minimums of Y81.31 and then managed to stabilize.
Oil: Oil rate dropped today and reached the $97.60 mark per barrel.
Gold: Gold prices decreased as well and reached the $1,508.50 mark per ounce.
American trading session:
US Dollar: The American dollar was supported as a result of the stock markets and commodity markets decrease.
http://ping.fm/S5NU6
Technical analysis for 24/05
EURUSD
The pair has broken daily channel and aiming to 1.39600.
Resistance: 1.41780, 1.42996, 1.44400
Support: 1.40690, 1.39600, 1.38554
GBPUSD
If the pair stays below 1.62050 the pair will decline to 1.60322.
Resistance: 1.62050, 1.63316, 1.64636
Support: 1.60322, 1.58543, 1.56722
USDCHF
If the pair breaks 0.88418 the pair will rise to 0.89635.
Resistance: 0.88418, 0.89635, 0.91079
Support: 0.87214, 0.85939, 0.84685
USDJPY
The pair is trying to decline below 81.399. It will bring pair to 80.438.
Resistance: 81.399, 82.219, 83.065
Support: 80.438, 79.707, 78.345
AUDUSD
The pair has declined to 1.05322. If this level is broken the pair will decline to 1.04407.
Resistance: 1.06164, 1.07005, 1.07739
Support: 1.05332, 1.04407, 1.03535
http://ping.fm/dW6et
Forex Metal Newsletter
Forex Metal Newsletter
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Market review for 16 – 20. 05, 2011
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Weekly technical analysis for 23 – 27.05
Forex-Metal Announces Spread Reduction
Forex-Metal is pleased to announce the reduction of spreads on USDNOK and USDSEK currency pairs. The tightening of spreads and the recent introduction of six new currency pairs will give Forex-Metal’s clients an opportunity to trade a wider choice of exotic currency pairs with the tightest spreads available in the market.
Forex-Metal views spreads tightening and providing a commission-free trading as one of its priorities. As a market-maker, Forex-Metal does not charge a commission for trading but is compensated for its services through a spread between bid/ask prices. The Company is committed to providing its clients with the best trading conditions through the Metatrader platform, including very competitive low spreads starting from 1 pip, zero commission, instant execution of orders, no-swap and Islamic accounts, ability to trade all instruments from a single account, rebates to active traders, free mobile, iPhone, and Android trading applications.
The full list of currency pairs and spreads offered can be viewed at http://ping.fm/qq7ML
About Forex-Metal: The Company offers online Forex and CFD trading for beginners and advanced traders. Formed in 2007 by a group of professional dealers with many years of experience trading for various financial institutions and banks, Forex-Metal is recognized as one of the leading Forex and CFD brokers. The company is famous for its competitive forex trading conditions and outstanding customer service.
Facebook: http://ping.fm/z9Tfb
Twitter: http://ping.fm/lE80k
Forex-Metal Announces Spread Reduction
Forex-Metal Announces Spread Reduction
Forex-Metal is pleased to announce the reduction of spreads on USDNOK and USDSEK currency pairs. The tightening of spreads and the recent introduction of six new currency pairs will give Forex-Metal’s clients an opportunity to trade a wider choice of exotic currency pairs with the tightest spreads available in the market.
Forex-Metal views spreads tightening and providing a commission-free trading as one of its priorities. As a market-maker, Forex-Metal does not charge a commission for trading but is compensated for its services through a spread between bid/ask prices. The Company is committed to providing its clients with the best trading conditions through the Metatrader platform, including very competitive low spreads starting from 1 pip, zero commission, instant execution of orders, no-swap and Islamic accounts, ability to trade all instruments from a single account, rebates to active traders, free mobile, iPhone, and Android trading applications.
The full list of currency pairs and spreads offered can be viewed at http://ping.fm/oI9Xz
About Forex-Metal: The Company offers online Forex and CFD trading for beginners and advanced traders. Formed in 2007 by a group of professional dealers with many years of experience trading for various financial institutions and banks, Forex-Metal is recognized as one of the leading Forex and CFD brokers. The company is famous for its competitive forex trading conditions and outstanding customer service.
Facebook: http://ping.fm/FcKFC
Twitter: http://ping.fm/KU4bi
Forex-Metal Daily Analysis -20/05/2011
Forex-Metal Daily Analysis -20/05/2011
https://forex-metal.com/news_posts
Market review for 19.05.2011: Greenback drops with the release of the weak US data.
Asian and European trading sessions:
Euro: The EUR/USD pair traded in the range of $1,4202-$1,4300 during the morning trading today.
US Dollar: Greenback demonstrated stable trading today until the American trading session.
British Pound: Sterling received considerable support against the euro and the US dollar after the release of the strong UK fundamentals. The published today UK Retail sales turned out to be much higher expectations. Retail sales inc auto fuel for April demonstrated the level of 1.1% against the forecasted 0.8% and previous month’s 0.3%.
Swiss Frank: The Swiss frank was under pressure after the release of the ZEW Survey for May, which showed unexpected decrease to – 11.5.
Japanese Yen: Japanese yen dropped today after the release of the Annualized Gross Domestic Product for the first quarter, which decreased for 3.7% against the forecasted drop for only 1.9%. Japanese industry and consumer expenses were pressured as a result of the earth-quake and tsunami.
The USD/JPY pair grew and reached the Y81.95 mark.
Oil: Oil prices showed some growth on Thursday and traded around the $100.56 range per barrel.
Gold: Gold traded at the $1491.00 level per ounce.
American trading session:
US Dollar: The American trading session showed changes in the trading dynamics of the major currency pairs. The release of the weak US fundamentals pressured the US dollar. Existing home sales decreased in April when the forecast showed increase, Philadelphia Federal index dropped below expectations. Under this negative influence even the drop of the Initial jobless claims could not support the greenback.
Therefore, the EUR/USD grew above the $1.4300 mark and the GBP/USD demonstrated maximums above the $1.6200 level.
https://forex-metal.com/news_posts
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Forex-Metal Daily Analysis -18/05/2011
Forex-Metal Daily Analysis -18/05/2011
https://forex-metal.com/news_posts
Financial support plan for Portugal has been approved.
Asian and European trading sessions:
Australian Dollar: The released results of the RBA meeting confirmed that at some point the Reserve Bank of Australia would need to continue increasing principal rates in Australia in order to slow down the inflation rate growth.
Euro: Euro was supported on Tuesday and one of the influencing factors was the agreement that has been reached during the meeting of the Euro-zone Financial Ministers in Brussels yesterday – financial support plan for Portugal has been approved.
At the same time the Euro-zone ZEW survey (economic sentiment) for May dropped to 13.6 against the forecasted decrease to 17.3. Therefore. the euro was pressured.
British Pound: Sterling received temporary support from the publication of the UK fundamental release today. The Consumer price index for April grew to 4.5% against the expected 4.1%. As a result, the GBP/USD pair reached the $1.6300 maximums. Expectations for the principal rates increase by the Bank of England grew.
Japanese Yen: Japanese yen was under pressure after the statement of the Bank of Japan managing director, Masaaki Shirakawa, who mentioned that “Japanese economy was in a very serious conditionâ€.
The USD/JPY pair traded at the Y81.70 level.
Oil: Oil traded around the $97.18 level per barrel after the reached minimums at the $95.02 mark per barrel.
American trading session:
US Dollar: Investors were discouraged by the release of the negative US fundamentals on Tuesday during the American trading session. The US housing starts for April decreased to 523K against the forecasted 569K. Building permits level dropped as well.
https://forex-metal.com/news_posts
Technical analysis for 18/05
EURUSD
The pair has been able to rise to 1.42996. If this level is broken the pair will rise to 1.44400.
Resistance: 1.42996, 1.44400, 1.46222
Support: 1.41780, 1.40690, 1.39600
GBPUSD
The pair stays above 1.62050 and it may bring pair to test 1.63316.
Resistance: 1.63316, 1.64636, 1.65706
Support: 1.62050, 1.60322, 1.58543
USDCHF
The pair has reached 0.88418, if the pair stays below this level the pair will decline to 0.87214.
Resistance: 0.88418, 0.89635, 0.91079
Support: 0.87214, 0.85939, 0.84685
USDJPY
If 80.438 is broken the pair will decline to 79.707. If 81.399 is broken the pair will rise to 82.219.
Resistance: 81.399, 82.219, 83.065
Support: 80.438, 79.707, 78.345
AUDUSD
The pair couldn’t break 1.05332 and trying to reach 1.07005.
Resistance: 1.07005, 1.07739, 1.08413
Support: 1.06164, 1.05332, 1.04407
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