Forex-Metal Daily Analysis - 11/08/2011

Forex-Metal

Master Trader
Jul 12, 2010
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Investors’ unwilling to take risks prevailed today.

Asian and European trading sessions:
Euro: The EUR/USD pair decreased to $1.4350 mark. Later on the EUR/USD dropped to minimums of $1.4200.
US Dollar: Dollar managed to show some strengthening after the results of the FOMC meeting, where the interest rates were left unchanged at the 0% - 0.25% range.
British Pound: Sterling followed the euro and the GBP/USD pair dropped to $1.6230. The heads of the Bank of England, Mervin King, mentioned that the UK economic weakness would continue to be for a long period of time. The pound almost hit minimums of $1.6100.
Japanese Yen: The USD/JPY pair showed minimums at the $1.6230 mark.
Swiss Franc: Today the Swiss franc stopped its growth against the greenback. According to the released information, additional measures could be undertaken in order to decrease the value of the franc.
Oil: Oil prices grew and traded around the $82.50 level per barrel.

American trading session:
Japanese Yen: The USD/JPY pair showed minimums of Y76.50.
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Technical analysis for 11/08
EURUSD
The key level for the pair is 1.40690, if this level is broken the pair will decline to Fibonacci 61.8% at 1.38867.
Resistance: 1.42996, 1.44400, 1.46222
Support: 1.41780, 1.40690, 1.38554
GBPUSD
The pair could not stay above below Fibonacci 38.2% 1.64636. MACD shows sell signal. Key level is 1.62050 after which may be expected decline to 1.60322.
Resistance: 1.62050, 1.63316, 1.64636
Support: 1.60322, 1.58543, 1.56722
USDCHF
The pair is trading around 0.73264.
Resistance: 0.73265, 0.74362, 0.75450
Support: 0.71993, 0.70687, 0.69336
USDJPY
The pair is aiming to 76.463.
Resistance: 77.539, 78.345, 79.070
Support: 76.463, 75.425, 74.414
AUDUSD
The pair had nearly touched first level of correction Fibonacci 23.6% at 0.98759. The pair may return to this level again.
Resistance: 1.02558, 1.03535, 1.04407
Support: 1.01744, 1.00907, 1.00067
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