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Forex-Metal Daily Analysis - 29/09/2011
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[QUOTE="Forex-Metal, post: 22198, member: 5723"] Concerns over the situation in Europe are growing. Asian and European trading sessions: Euro: The Asian trading session demonstrated drop of the euro against the US dollar. During the European trading session the EUR/USD pair showed temporary maximum at the $1.3690 level, and then stepped back to the $1,3640 range. The discussions over the increase of the European financial stability fund supported the euro today. Germany is supposed to make a final decision this Thursday (the fund will be increased only if all the 17 countries participants’ would agree upon this increase). US Dollar: The greenback was supported during the European trading session, due to the negative dynamics of the European stock indices. British Pound: The GBP/USD pair traded in the tight range of $1.5600-$1,5670. Japanese Yen: The Japanese yen strengthened against the major currencies. And the demand for the Japanese yen grew, as for the save-heaven currency. Gold: Gold finished the trading day today at the $ 1.595 per ounce. American trading session: US Dollar: During the American trading session market participants tried to get rid of risky assets, and the EUR/USD decreased to the $1,3540 level, and the GBP/USD dropped to $1,5600. Concerns over the situation in Greece reinforced, and the major stock US indices decreased. Euro: According to the released information, the ECB would not increase the interest rates during its meeting planned for the October 6-th. [url]https://forex-metal.com/news_posts[/url] Technical analysis for 29/09 EURUSD If the pair stays above Fibonacci retracement 50% at 1.34882 the pair will rise to 1.37486. Resistance: 1.35984, 1.37486, 1.38554 Support: 1.34882, 1.33143, 1.31674 GBPUSD The pair is rising to 1.56722. If this level is broken the pair will rise to 1.58543. Resistance: 1.56722, 1.58543, 1.60322 Support: 1.54842, 1.53482, 1.52063 USDCHF The pair may start corrections and decline to 0.88418. Resistance: 0.91079, 0.92026, 0.93069 Support: 0.88418, 0.87214, 0.85939 USDJPY If the pair stays below 76.463 the pair will decline to 75.425. If the pair stays above 76.463 the pair will rise to 77.539. Resistance: 77.539, 78.345, 79.070 Support: 76.463, 75.425, 74.414 AUDUSD The pair is trying to return to 0.98436. Resistance: 0.98436, 0.99207, 1.00067 Support: 0.97423, 0.96579, 0.95611 [url]https://forex-metal.com/news_posts[/url] [/QUOTE]
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