Forex-Metal Daily Analysis -28/06/2011


Master Trader
Jul 12, 2010
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.
Technical analysis for 28/06
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
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
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
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
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