IN THIS ISSUE:
1. Weekly market review from Forex-Metal.
2. Weekly technical analysis.
3. Get a free ATM debit card with every new account.
4. Get a 30% trading bonus when you open a new account.
5. Representatives Wanted!
________________________________________
WEEKLY REVIEW FOR 9 – 13. 05, 2011
On Monday speculations regarding possible withdrawal of Greece from the Euro-zone were not confirmed, since during the meeting of the Ministers of Finances of the Euro-zone countries this question was not discussed. As a result, the EUR/USD pair tried to strengthen above the $1.4400 level during the Asian trading session. But later the announcement that the S&P credit agency reduced the credit rating of Greece to B level and noted that new reductions were possible, pressured the euro. Therefore, the EUR/USD dropped to $1.4250. Sterling tried to strengthen as well and traded in the range of $1.6330-$1.6410 on Monday. But the released UK data pressured the pound. The Halifax house prices showed an unexpected drop for 3.7%, while the decrease was forecasted for 3.0%. In addition, the forecast of the UK GDP was decreased. The GBP/USD pair dropped to $1.6350 minimums.
Concerns over the possibility that Greece debt would need to be restructured, pressured the euro during the morning trading on Tuesday. It has been also announced that Moody’s and Fitch would decrease the credit ratings for Greece as well. The EUR/USD pair showed minimums of $1,4270. The sterling followed the euro and decreased as well. Possibility that the Bank of England would reduce its economic forecasts pressured the pound. The GBP/USD pair reached minimums at $1.6330 mark.
New-Zealand dollar decreased after the statement of the IMF that the national currency of New-Zealand was overestimated. On the same day the Swiss frank weakened after the released Consumer price index increase below expectations (only 0.1% growth against the forecasted increase for 0.5%).
Problems in Greece reached the point of escalated tension of the public and strikes among the working people. Greeks were against the actions of the Government. Therefore, the euro was under pressure on Wednesday. Greenback started to strengthen on that day in anticipation of the strong US fundamental releases planned for tomorrow.
Sterling followed the weakened euro on Wednesday first. But pound received support on that day due to information from the Bank of England that the UK inflation might increase and reach 5%. Possibility for the principal rate increase reinforced. As a result, the GBP/USD showed temporarily maximums of $1.6500 mark.
Thursday saw a considerable drop of the euro during the European trading session. The EUR/USD pair traded below the $1.4150 minimums. Stock markets decreased, which pressured the high-yielding assets. In addition, the Euro-zone statistics demonstrated negative Industrial production level, which turned out to be below the forecasts. Following the euro, the sterling dropped to $1.6250 minimums. Release of the negative UK fundamentals pressured the sterling. Industrial production for March turned out to be 0.3% against its expectations of 0.8%. Manufacturing production for March was 0.2% against its forecasts of 0.3%.
The publication of the US fundamentals during the American trading session on Thursday did not render any support to the greenback. Initial jobless claims increased for 434K against the forecasted 430K.
Against the background of the weakening American dollar, greenback competitors managed to win back their previously lost positions during the American trading session on Thursday. The EUR/USD pair grew and reached the $1.4250 level. The GBP/USD pair grew and reached the $1.63 mark.
The EUR/USD closed the week around the $1.41 level, since investors were concerned about the Euro-zone debt problems and the restructuring of the Greece debt in particular.
The Japanese yen weakened against the greenback, but could not decrease below the Y81 level, since the Japanese yen played a save-heaven currency role.
Happy trading!
________________________________________
WEEKLY REVIEW FOR 16.05 - 20.05, 2011
EURUSD
The pair has declined to 1.41130. If the pair stays below this level the support maybe met at 1.37441.
Resistance: 1.44835, 1.47697, 1.50676
Support: 1.41130, 1.37441, 1.33427
GBPUSD
The pair is aiming to Moving Average (100) at 1.59962.
Resistance: 1.64274, 1.68504, 1.72652
Support: 1.59962, 1.52523, 1.48532
USDCHF
The pair is aiming to median line at 0.91074.
Resistance: 0.91074, 0.93264, 0.96597
Support: 0.88022, 0.85633, 0.82723
USDJPY
The pair is decline to 80.244 and may rise to median line at 83.330.
Resistance: 83.330, 86.836, 90.909
Support: 80.244, 76.535, 73.126
AUDUSD
If the pair is trying to stay below 1.05810 this may bring pair to 1.03847. Strong support is at 1.01873.
Resistance: 1.07806, 1.09604, 1.11831
Support: 1.05810, 1.03847, 1.01873
________________________________________
GET A FREE ATM DEBIT CARD WITH EVERY NEW ACCOUNT
The debit cards promotion is on again! Open a new account today with a minimum balance of $500 to get a free debit card accepted in most ATMs around the world, with $100 cash on it! This is a limited time offer. For full conditions and to apply please click here:
https://forex-metal.com/home/cardspromotion.rhtml
________________________________________
GET A 30% TRADING BONUS WHEN YOU OPEN A NEW ACCOUNT
Cash bonus promotion - "You nominate the amount of the bonus". Get a cash bonus of up to $3000 when you deposit funds into your account for the first time. The full bonus conditions are available here: https://forex-metal.com/discount/discount05
If you have just opened a trading account with us and fund your trading account within a week from the time of this message, you can receive a cash bonus in addition to your deposit. If you would like to receive the bonus, please contact us at payments@forex-metal.com and confirm the bonus amount you would like to receive, at the time your account is being funded. REPRESENTATIVES WANTED !
We are expanding our operations and would like to open a representative office in your country, so we can be closer to our customers.
If you feel that you are up to it: to have an interesting business and to have a steady income, then talk to us.
You do not need to have any special knowledge - full training and support will be provided by us. For more details please contact our Business Development team at business@forex-metal.com or talk to our operators via live chat and they will put you to the right person.
________________________________________
1. Weekly market review from Forex-Metal.
2. Weekly technical analysis.
3. Get a free ATM debit card with every new account.
4. Get a 30% trading bonus when you open a new account.
5. Representatives Wanted!
________________________________________
WEEKLY REVIEW FOR 9 – 13. 05, 2011
On Monday speculations regarding possible withdrawal of Greece from the Euro-zone were not confirmed, since during the meeting of the Ministers of Finances of the Euro-zone countries this question was not discussed. As a result, the EUR/USD pair tried to strengthen above the $1.4400 level during the Asian trading session. But later the announcement that the S&P credit agency reduced the credit rating of Greece to B level and noted that new reductions were possible, pressured the euro. Therefore, the EUR/USD dropped to $1.4250. Sterling tried to strengthen as well and traded in the range of $1.6330-$1.6410 on Monday. But the released UK data pressured the pound. The Halifax house prices showed an unexpected drop for 3.7%, while the decrease was forecasted for 3.0%. In addition, the forecast of the UK GDP was decreased. The GBP/USD pair dropped to $1.6350 minimums.
Concerns over the possibility that Greece debt would need to be restructured, pressured the euro during the morning trading on Tuesday. It has been also announced that Moody’s and Fitch would decrease the credit ratings for Greece as well. The EUR/USD pair showed minimums of $1,4270. The sterling followed the euro and decreased as well. Possibility that the Bank of England would reduce its economic forecasts pressured the pound. The GBP/USD pair reached minimums at $1.6330 mark.
New-Zealand dollar decreased after the statement of the IMF that the national currency of New-Zealand was overestimated. On the same day the Swiss frank weakened after the released Consumer price index increase below expectations (only 0.1% growth against the forecasted increase for 0.5%).
Problems in Greece reached the point of escalated tension of the public and strikes among the working people. Greeks were against the actions of the Government. Therefore, the euro was under pressure on Wednesday. Greenback started to strengthen on that day in anticipation of the strong US fundamental releases planned for tomorrow.
Sterling followed the weakened euro on Wednesday first. But pound received support on that day due to information from the Bank of England that the UK inflation might increase and reach 5%. Possibility for the principal rate increase reinforced. As a result, the GBP/USD showed temporarily maximums of $1.6500 mark.
Thursday saw a considerable drop of the euro during the European trading session. The EUR/USD pair traded below the $1.4150 minimums. Stock markets decreased, which pressured the high-yielding assets. In addition, the Euro-zone statistics demonstrated negative Industrial production level, which turned out to be below the forecasts. Following the euro, the sterling dropped to $1.6250 minimums. Release of the negative UK fundamentals pressured the sterling. Industrial production for March turned out to be 0.3% against its expectations of 0.8%. Manufacturing production for March was 0.2% against its forecasts of 0.3%.
The publication of the US fundamentals during the American trading session on Thursday did not render any support to the greenback. Initial jobless claims increased for 434K against the forecasted 430K.
Against the background of the weakening American dollar, greenback competitors managed to win back their previously lost positions during the American trading session on Thursday. The EUR/USD pair grew and reached the $1.4250 level. The GBP/USD pair grew and reached the $1.63 mark.
The EUR/USD closed the week around the $1.41 level, since investors were concerned about the Euro-zone debt problems and the restructuring of the Greece debt in particular.
The Japanese yen weakened against the greenback, but could not decrease below the Y81 level, since the Japanese yen played a save-heaven currency role.
Happy trading!
________________________________________
WEEKLY REVIEW FOR 16.05 - 20.05, 2011
EURUSD
The pair has declined to 1.41130. If the pair stays below this level the support maybe met at 1.37441.
Resistance: 1.44835, 1.47697, 1.50676
Support: 1.41130, 1.37441, 1.33427
GBPUSD
The pair is aiming to Moving Average (100) at 1.59962.
Resistance: 1.64274, 1.68504, 1.72652
Support: 1.59962, 1.52523, 1.48532
USDCHF
The pair is aiming to median line at 0.91074.
Resistance: 0.91074, 0.93264, 0.96597
Support: 0.88022, 0.85633, 0.82723
USDJPY
The pair is decline to 80.244 and may rise to median line at 83.330.
Resistance: 83.330, 86.836, 90.909
Support: 80.244, 76.535, 73.126
AUDUSD
If the pair is trying to stay below 1.05810 this may bring pair to 1.03847. Strong support is at 1.01873.
Resistance: 1.07806, 1.09604, 1.11831
Support: 1.05810, 1.03847, 1.01873
________________________________________
GET A FREE ATM DEBIT CARD WITH EVERY NEW ACCOUNT
The debit cards promotion is on again! Open a new account today with a minimum balance of $500 to get a free debit card accepted in most ATMs around the world, with $100 cash on it! This is a limited time offer. For full conditions and to apply please click here:
https://forex-metal.com/home/cardspromotion.rhtml
________________________________________
GET A 30% TRADING BONUS WHEN YOU OPEN A NEW ACCOUNT
Cash bonus promotion - "You nominate the amount of the bonus". Get a cash bonus of up to $3000 when you deposit funds into your account for the first time. The full bonus conditions are available here: https://forex-metal.com/discount/discount05
If you have just opened a trading account with us and fund your trading account within a week from the time of this message, you can receive a cash bonus in addition to your deposit. If you would like to receive the bonus, please contact us at payments@forex-metal.com and confirm the bonus amount you would like to receive, at the time your account is being funded. REPRESENTATIVES WANTED !
We are expanding our operations and would like to open a representative office in your country, so we can be closer to our customers.
If you feel that you are up to it: to have an interesting business and to have a steady income, then talk to us.
You do not need to have any special knowledge - full training and support will be provided by us. For more details please contact our Business Development team at business@forex-metal.com or talk to our operators via live chat and they will put you to the right person.
________________________________________