Archive for June 2011
Forex-Metal Daily Analysis -30/06/2011
Forex-Metal Daily Analysis -30/06/2011
Greek parliament approves of the austerity measures.
Asian and European trading session:
Euro: Euro showed consolidation on Wednesday, and the EUR/USD pair grew to its maximums of $1.4400 during the Asian trading session. Market participants were optimistic due to reinforced expectations that the Greek parliament would approve of the austerity measures for the national economy in order to receive the financial help and avoid the default. Some experts note that the current euro stabilization is only temporary.
According to the announcement, the Greek parliament supported the program of the austerity measures. The EUR/USD showed maximums at the $1.4450 level.
US Dollar: Demand for the high-risk currencies increased, and the US dollar was under pressure.
British Pound: Sterling strengthened as well due to the Greek optimism and the GBP/USD pair reached the $1.6014 highs.
But the negative movement of the pound followed the released weak UK statistics. The UK Net consumer credit turned out to be at the lower level than forecasted.
Japanese Yen: The USD/JPY traded in the range of Y80.90-Y81.20.
Oil: Oil prices grew to the $94.10 mark per barrel.
Gold: Gold rate increased as well and reached the $1,509.20 price per ounce.
American trading session:
Euro: Investors are expecting the ECB to raise the interest rates during their next meeting on July 7-th.
Technical analysis for 30/06
EURUSD
The pair has broken 1.44400 and aiming to 1.46222.
Resistance: 1.46222, 1.47342, 1.48550
Support: 1.44400, 1.42996, 1.41780
GBPUSD
The pair has broken 1.60322 and aiming to 1.62050.
Resistance: 1.62050, 1.63316, 1.64636
Support: 1.60322, 1.58543, 1.56722
USDCHF
The pair has declined to 0.83541. If the pair stays below this level the pair will decline to 0.82438.
Resistance: 0.83541, 0.84685, 0.85939
Support: 0.82483, 0.81356, 0.80313
USDJPY
The pair has nearly touched Moving Average (100) at 81.399 and rolling back to 80.438. If this level will be broken the pair will decline to 79.707.
Resistance: 81.399, 82.219, 83.065
Support: 80.438, 79.707, 79.070
AUDUSD
The pair has found support at 1.04407 and rolling back to 1.07739.
Resistance: 1.07739, 1.08413, 1.09112
Support: 1.07005 ,1.06164, 1.05332
http://ping.fm/CWn7h
Forex-Metal Daily Analysis -29/06/2011
Forex-Metal Daily Analysis -29/06/2011
Anticipation of the vote in Greece.
Asian and European trading sessions:
Euro: EUR/USD pair demonstrated minimum of $1.4300 during the Asian trading session on Tuesday. Euro showed volatile trading during the European session in the threshold of the voting at the Greek parliament. Special measures for the reduction of the budget deficit would be accepted aimed to avoid the default.
Maximums were set at the $1.4335 level.
British Pound: The sterling decreased as well and the GBP/USD dropped to $1.5960.
GBP/USD showed minimums at the $1.5912 range. On Tuesday the speculations regarding the longer period of the low interest rates in the UK pressured the euro. The unexpected reduction of the UK GDP below forecasts rendered negative influence on the pound.
Japanese Yen: The USD/JPY pair traded in the range of Y80.70 – Y80.95.
Oil: Oil prices were at their 4-months minimums of $90.81 per barrel.
American trading session:
Swiss Franck: In the uncertain European situation, the Swiss frank continued to play a role of the save-heaven currency.
Euro: EUR/USD gained back some of its previously lost positions and grew to the $1.4395 range.
US Dollar: According to the released data, the US Consumer confidence index reduced to 58.5 level.
http://ping.fm/olmSA
Technical analysis for 29/06
EURUSD
The pair stays above 1.42996, it may bring pair to 1.44400.
Resistance: 1.44400, 1.46222, 1.47342
Support: 1.42996, 1.41780, 1.40690
GBPUSD
The pair nearly touched 1.58543 and rolling back to 1.60322.
Resistance: 1.60322, 1.62050, 1.63316
Support: 1.58543, 1.56722, 1.54842
USDCHF
The pair has declined to 0.83541. If the pair stays below this level the pair will decline to 0.82438.
Resistance: 0.83541, 0.84685, 0.85939
Support: 0.82483, 0.81356, 0.80313
USDJPY
The pair is aiming to reach Moving Average (100) at 81.399.
Resistance: 81.399, 82.219, 83.065
Support: 80.438, 79.707, 79.070
AUDUSD
The pair has returned to 1.05332 which is a resistance level. If the pairs stays below this level the pair will decline to 1.04407.
Resistance: 1.05332, 1.06164, 1.07005
Support: 1.04407, 1.03535, 1.02705
http://ping.fm/abz3U
Forex-Metal Daily Analysis -28/06/2011
Forex-Metal Daily Analysis -28/06/2011
http://ping.fm/6UURB
Expectations for the Greek parliament decision.
Asian and European trading session:
Euro: Euro has started this week with a decrease, due to the increased concerns over the European debt crises and expectations for the results of the Greek parliament voting for the project of the budget deficit reduction. The EUR/USD pair decreased to the minimums of $1,4100 mark.
European trading session demonstrated rehabilitation of the euro to the $1.4200 mark. Market participants’ optimism was supported by the expectations that Greek Parliament would accept the rigid austerity plan, which would be necessary for the approval of the next bailout tranche from the IMF and the European Community.
US Dollar: Greenback was weakening against the drop of the Asian stock markets.
British Pound: Sterling followed the euro and the GBP/USD pair dropped to the $1,5910 level.
Oil: Oil prices were decreasing and reached the $90.71 level per barrel. Minimums were reached at the $89.84 mark.
Japanese Yen: The USD/JPY pair traded around the Y80.80 range.
Gold: Gold price grew to the $1,503.60 mark per ounce.
American trading session:
US Dollar: According to the expectations, the released US statistics turned out to be weak. The US personal income, personal spending and the Dallas Federal manufacturing activity index (-17.4 against the forecasted -3.1) happened to be below expectations.
http://ping.fm/o8VWg
Technical analysis for 28/06
EURUSD
If the pair declines below 1.42996 the pair will decline to 1.41780.
Resistance: 1.44400, 1.46222, 1.47342
Support: 1.42996, 1.41780, 1.40690
GBPUSD
The pair has broken 1.60322 and aiming to 1.58543.
Resistance: 1.60322, 1.62050, 1.63316
Support: 1.58543, 1.56722, 1.54842
USDCHF
The pair has declined to 0.83541. If the pair stays above this level the pair will rise to 0.84685.
Resistance: 0.84685, 0.85939, 0.87214
Support: 0.83541, 0.82483, 0.81356
USDJPY
The pair is aiming to reach Moving Average (100) at 81.399.
Resistance: 81.399, 82.219, 83.065
Support: 80.438, 79.707, 79.070
AUDUSD
The pair has reached 1.04407. If this level is broken the pair will reach 1.03535.
Resistance: 1.05332, 1.06164, 1.07005
Support: 1.04407, 1.03535, 1.02705
http://ping.fm/oDxEW
Forex Metal Weekly Newsletter
Forex Metal Weekly Newsletter
https://forex-metal.com/newsletters/228
Market review for 20 – 24.06, 2011
https://forex-metal.com/newsletters/229
Weekly technical analysis for 27.06 – 1.07
IN THIS ISSUE:
1. Weekly market review from Forex-Metal.
2. Weekly technical analysis.
3. New! Keep your account balance in AUD.
4. Free debit cards promotion is on again.
5. Get a 30% trading bonus when you open a new account.
6. Representatives Wanted!
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WEEKLY REVIEW FOR 20 -24. 06, 2011
As a result of the previous trading week, US dollar demonstrated a winning position. Nevertheless, a first few days were negative for the greenback.
The EU Finance Ministers meeting was held during the previous weekend. The fact that no agreement was formed over the bailout of Greece pressured the euro on Monday. The EUR/USD demonstrated a negative dynamics during the Asian and European trading sessions. Moody’s credit agency stated that the credit rating of Italy would be decreased, due to the released Italian GDP results. The EUR/USD dropped to its minimums of $1.4192. In addition, the released today German producer prices dropped to 6.1% against the forecasted 6.3%. The GBP.USD pair dropped to the lows of $1.6100 following the euro. But during the American session the trading dynamics changed. Since the decision regarding the Greek bailout would be positive, the euro started to strengthen based on the increased optimism of the market participants. The EUR/USD rehabilitated and reached the $1.43 mark, and the GBP/USD pair strengthened at the $1.6200 level.
Australian dollar decreased on Tuesday after the publication of the minutes of the last meeting of the Reserve Bank of Australia. RBA pointed out that its decision to keep the interest rate at the previous level was reasonable due to the uncertain situation with the European crises.
Released on the same day German ZEW survey turned to be -9 against the forecasted-3 level. The Euro-zone economic sentiment survey was at the -5.9 mark while the expected level was 6.1. As a result, the EUR/USD showed temporary minimums of $1.4315. Concerns over the situation in Greece weakened on Tuesday in anticipation of the vote of confidence for the Greek Prime Minister, Georgius Papandreu. But positive US statistics, which was released during the second part of the day, rendered support to the risky assets. The US existing home sales decreased only for 3.8% compared to the forecasted drop of 5.0%. Therefore, the EUR/USD managed to reach the $1.44 level, and the GBP/USD grew to the $1.6240 mark.
Wednesday saw a considerable decrease of the pound. The publication of the last minutes of the BoE meeting pressured the sterling. According to the released results of the votes, only two members voted for the increase of the principal rate and seven votes were in favour of leaving the principal rate unchanged. As a result, the GBP/USD pair dropped to the $1.6100 minimums.
The speech of the head of the FRS, Ben Bernanke, had a serious impact on the market dynamics on Wednesday. Ben Bernanke forecasted a gradual rehabilitation of the US economy. According to the released FOMC decision, the principal rate was left unchanged at the previous level of 0.25%. As a result, the EUR/USD decreased to the $1.4340 level, and the GBP/USD closed the day around the $1.6060 mark.
Euro was under pressure on Thursday in anticipation of the EC summit of the Euro-zone leaders in Brussels. Decreased Asian stock markets pressured the high-risk currencies. As a result, the EUR/USD pair decreased to $1.4300 range. EU leaders were holding a two-day summit to discuss Greece’s financing needs amid efforts by the nation to stay off default. Therefore, the greenback strengthened on Thursday as a save-heaven currency.
The release of the negative UK statistics pressured the pound on Thursday. CBI reported sales for June showed an unexpected drop to -2 level against the forecasted increase to 12 mark. The sterling followed the weakened euro dynamics. The GBP/USD rate decreased to $1.6015 minimums.
At the end of the week the US dollar continued to stabilize and the EUR/USD pair closed the week around the level of $1.44. The announcement of the reached agreement between the Government of Greece and the IMF regarding the 5-year plan of the external debt refinancing did not support the euro. The pound continued to drop and the GBP/USD pair closed the trading week at the low level of $1.5950. The USD/JPY traded in the range of Y80.00-Y80.80 during the whole week.
Happy trading!
________________________________________
WEEKLY REVIEW FOR 27.06 -1. 07, 2011
EURUSD
The pair is aiming to channel level at 1.41130. If this level is broken the pair will decline to 1.37441.
Resistance: 1.44835, 1.47697, 1.50676
Support: 1.41130, 1.37441, 1.33427
GBPUSD
The pair has broken 1.59962 and aiming to the Median line at 1.57391. If this level will be broken the pair will decline to 1.52523.
Resistance: 1.59962, 1.64274, 1.68504
Support: 1.52523, 1.48532, 1.43344
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 has declined to 80.244. If the pair stays above this level the pair will rise to 83.330.
Resistance: 83.330, 86.836, 90.909
Support: 80.244, 76.535, 73.126
AUDUSD
The pair has broken 1.05810 and aiming to 1.03847.
Resistance: 1.05810, 1.07806, 1.09604
Support: 1.03847, 1.01873, 1.00031
________________________________________
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Forex-Metal Daily Analysis -24/06/2011
Forex-Metal Daily Analysis -24/06/2011
Save-heaven assets are in demand.
Asian and European trading session:
Euro: Euro was under pressure on Thursday in anticipation of the EC summit of the Euro-zone leaders in Brussels. Decreased Asian stock markets pressured the high-risk currencies. As a result, the EUR/USD pair decreased to $1.4300 range.
EU leaders are holding a two-day summit to discuss Greece’s financing needs amid efforts by the nation to stay off default.
US Dollar: Greenback strengthened on Thursday as a save-heaven currency.
British Pound: The release of the negative UK statistics today pressured the pound. CBI reported sales for June showed an unexpected drop to -2 level against the forecasted increase to 12 mark. The sterling followed the weakened euro dynamics. The GBP/USD rate decreased to $1.6015 minimums.
Japanese Yen: The USD/JPY pair traded in the range of Y80.30-Y80.60.
Australian Dollar: The Australian dollar rate was lower today, as the Asian stock markets showed unexpected decrease .
Oil: Oil prices were set around the $94.23 mark per barrel.
American trading session:
US Dollar: Greenback was much stronger its major competitors today.
http://ping.fm/207bR
Forex-Metal Daily Analysis -23/06/2011
Forex-Metal Daily Analysis -23/06/2011
https://forex-metal.com/news_posts
Dramatic drop of the pound.
Asian and European trading sessions:
Euro: During the morning trading the euro was supported by the strengthened market participant’s hope for the positive outcome of the Greek external debt problems.
Therefore, the EUR/USD grew and reached the $1.4440 maximum. But according to the opinion of some experts, technical default is still a possible outcome for Greece.
British Pound: Wednesday saw a considerable decrease of the pound. The today publication of the last minutes of the BoE meeting pressured the sterling. According to the released results of the votes, only two members voted for the increase of the principal rate and seven votes were in favor of leaving the principal rate unchanged.
As a result, the GBP/USD pair dropped to the $1.6100 minimums.
Japanese Yen: The USD/JPY pair traded at the level of Y80.00.
Oil: Oil price decreased to $93.91 level per barrel.
Gold: Gold traded around the $1,546.70 range per ounce.
American trading session:
US Dollar: The speech of the head of the FRS, Ben Bernanke, had a serious impact on the market dynamics. Ben Bernanke forecasted a gradual rehabilitation of the US economy.
According to the released FOMC decision, the principal rate was left unchanged at the previous level of 0.25%. As a result, the EUR/USD decreased to the $1.4340 level, and the GBP/USD closed the day around the $1.6060 mark.
https://forex-metal.com/news_posts
Technical analysis for 23/06
EURUSD
The pair stays above 1.42996, it may bring pair to test 1.44400. If the pair declines below 1.42996 the pair will decline to 1.41780.
Resistance: 1.44400, 1.46222, 1.47342
Support: 1.42996, 1.41780, 1.40690
GBPUSD
The pair has declined to 1.60322. This is a support level and the price should roll back to 1.61029.
Resistance: 1.62050, 1.63316, 1.64636
Support: 1.60322, 1.58543, 1.56722
USDCHF
The pair will be able to reach 0.85939 in case 0.84685 is broken. If the pair stays below 0.84685 the pair will decline to 0.83541.
Resistance: 0.84685, 0.85939, 0.87214
Support: 0.83541, 0.82483, 0.81356
USDJPY
If the pair breaks 80.438 the pair will try to reach Moving Average (100) at 81.399.
Resistance: 80.438, 81.399, 82.219
Support: 79.707, 79.070, 78.345
AUDUSD
The pair is declining to 1.05332. 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
https://forex-metal.com/news_posts
Forex-Metal Daily Analysis -22/06/2011
Forex-Metal Daily Analysis -22/06/2011
Forex-Metal Daily Analysis -21/06/2011
Forex-Metal Daily Analysis -21/06/2011
https://forex-metal.com/news_posts
Decision regarding the Greece bailout will be announced in the beginning of July.
Asian and European trading sessions:
Euro: The EU Finance Ministers meeting was held this weekend. The fact that no agreement was formed over the bailout of Greece pressured the euro on Monday. The EUR/USD demonstrated a negative dynamics during the Asian and European trading sessions.
Moody’s credit agency stated that the credit rating of Italy would be decreased, due to the released Italian GDP results. The EUR/USD dropped to its minimums of $1.4192.
In addition, the released today German producer prices dropped to 6.1% against the forecasted 6.3%.
US Dollar: Demand for the save-heaven assets grew in the light of European problems. Greenback strengthened against its competitors.
British Pound: The GBP.USD pair dropped to the lows of $1.6100 following the euro.
Japanese Yen:
American trading session:
US Dollar: During the American session the trading dynamics changed. Since the decision regarding the Greek bailout would be positive, the euro started to strengthen based on the increased optimism of the market participants.
The EUR/USD rehabilitated and reached the $1.43 mark, and the GBP/USD pair strengthened at the $1.6200 level.
https://forex-metal.com/news_posts
Technical analysis for 21/06
EURUSD
The pair stays above 1.42996, it may bring pair to test 1.44400. If the pair declines below 1.42996 the pair will decline to 1.41780.
Resistance: 1.44400, 1.46222, 1.47342
Support: 1.42996, 1.41780, 1.40690
GBPUSD
The pair is trying to decline below 1.62050, it may bring pair to test 1.60322.
Resistance: 1.63316, 1.64636, 1.65706
Support: 1.62050, 1.60322, 1.58543
USDCHF
The pair will be able to reach 0.85939 in case if 0.84685 is broken.
Resistance: 0.84685, 0.85939, 0.87214
Support: 0.83541, 0.82483, 0.81356
USDJPY
If the pair breaks 80.438 the pair will try to reach Moving Average (100) at 81.399.
Resistance: 80.438, 81.399, 82.219
Support: 79.707, 79.070, 78.345
AUDUSD
The pair is declining to 1.05332. 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
https://forex-metal.com/news_posts
GET A FREE ATM DEBIT CARD WITH EVERY NEW ACCOUNT
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