IN THIS ISSUE:
1. Weekly market review from Forex-Metal.
2. Weekly technical analysis.
3. Forex-Metal Partners With Zulutrade
4. Get a 35% trading bonus when you open a new account.
5. Representatives Wanted!
Weekly review for: 11 - 15. 06.12
Euro: On Monday, the Euro gaped up strongly against most major currencies on the background of the news that the European governments have agreed on providing financial assistance to Spain. The EU stabilization fund expected that Spain needs will require up to 100 billion Euros. Moreover, unlike other countries, Spain in exchange for receiving assistance aid would not need to make any retrenchments. The requirements for this help would apply only on its financial sector. The EUR / USD pair was traded around $ 1.2637 at the open and, however, fell steeply down at the following sessions to the lows of $1.2530.The reason for this fall was a still remained pressure on the currency due to the coming on June 17 parliamentary elections in Greece. The euro continued to fall on the next day on the background of growing of the Spanish bonds yields’ to their maximum level of 6, 728 % - the highest level since 29 November 2011 and also after the Fitch Ratings agency informed that Spain will not be able to reach the target level of fiscal deficit. In addition to it, the agency downgraded the rating of 18 Spanish banks. All these negative factors increased again investors’ fears of worsening debt crisis in Europe. The EUR/USD pair fell into the $1.2443 area on that day. The slight growth of the currency on Wednesday was limited due to the results of auctions of Italian government bonds, which recorded an increase in yields to the level of 3.972 % versus 2.34 % for a similar previous release. The downtrend started on Monday was broke on the results of published report on Industrial Production in the euro area the decline of which in April was not so high than the average of analysts’ forecasts. The Euro continued to strengthen against its competitors till the end of the week regaining back all of its losses on expectations of the positive result of Greek elections.
U.S. Dollar: The dollar opened this week on negative note due to the falling demand for save heaven assets, in connection with the good news from Spain. The speech of the President of the Federal Reserve Bank of Chicago, Mr. Charles Evans put some pressure on the currency and the greenback fell against major currencies on Tuesday. Mr. Evans said that he will support a wide range of measures for creating an increase in the number of jobs in the US country. He also stated that: "More asset purchases would be helpful. More purchases of mortgage-backed securities - that's good”, meaning by that that he would welcome almost any adaptive policy. The market sentiment after this speech turned away from the expectations for the new round of quantitative easing in the U.S. On the background of published report on U.S. Retail Sales which fell in May for the second consecutive month the dollar dropped against almost all traded currencies. The market participants thought that the issue could show a new sign of a slowing of the U.S. economy. The dollar index on Friday closed this week at 81.5 mark losing about 1%.
British Pound: The pound rose to its last week highs supporting by the positive market’s sentiment. Although, the report on Industrial Production in the UK rose did not match the analysts expectations the pound grew against its competitors. The Industrial Production in the UK fell to 0.0 % on monthly bases versus forecasted growth to 0. 1%. At the end of the week on Friday the GBP / USD couple showed a very good strength rocketing to the highs of 1.5720 in the last two sessions.
Japanese Yen: The Yen as a Dollar was not at demand at the beginning of this week due to the positive market sentiment which was based on good news from Spain. On Tuesday, after the International Monetary Fund had revealed its readiness to except Japan's attempts to weaken the national currency the Yen stopped its growth and pulled back falling against major currencies. In details, accordingly the published information, the First Deputy Managing Director of the Foundation, Mr. Lipton said: "We would understand Japans intervention in foreign exchange market." As the result, the Yen fell against the Dollar to the Y79.70 level. On Friday, the Japanese yen broke down the important level of 79. 20 against the dollar on concerns of results of Greek elections.
Australian dollar: The Australian dollar rose on the reports from China which came out with mixed results. In details, the reports showed decrease in inflation and in Industrial Production yet demonstrated the strong results on exports and imports which reduced concerns about the slowing of the Chinese economy in the nearest future.
New Zealand dollar: After the May’s index of Housing Prices of New Zealand showed a growth, the currency dollars pulled back winning back some of the its recently lost positions.
Weekly TECHNICAL ANALYSIS for 18 - 22.06, 2012
EURUSD
The pair is aiming to resistance at 1.28800.
Resistance: 1.28800, 1.33427, 1.37441
Support: 1.25667, 1.20280, 1.17063
GBPUSD
The pair’s resistance is 1.59962. Support is 1.52523.
Resistance: 1.59962, 1.64274, 1.68504
Support: 1.52523, 1.48532, 1.43344
USDCHF
The pair is aiming to the Moving Average 0.93264.
Resistance: 0.96597, 0.99031, 1.01369
Support: 0.93264, 0.91074, 0.88022
USDJPY
The pair has broken 80.244 but couldn’t reach 76.535. The pair may return to 80.244.
Resistance: 80.244, 83.330, 86.836
Support: 76.535, 73.126, 69.117
AUDUSD
The pair is aiming to the median line at 1.02679.
Resistance: 1.01873, 1.03847, 1.05810
Support: 1.00592, 0.97889, 0.94417
Forex-Metal Partners With Zulutrade
Forex-Metal, a leading online Forex and CFD broker, has announced a partnership with Zulutrade, the largest forex automated trading signals platform that provides access to thousands of signals providers from around the world and converts their signals into live trades on clients' trading accounts. This allows traders to have free access to other traders' strategies and experience.
The following features apply to Zulutrade Forex-Metal accounts:
. Access to thousands of top-performing signal providers;
. No requotes and no dealing desk trading;
. over 60 forex pairs plus gold and silver;
. USD-, EUR-denominated accounts;
. Low spreads starting from 1.5 pips;
. 0.01 lot minimum trade size;
. Maximum 10 lots per single trade;
. Floating leverage from 1:1 to 1:1100;
. Market execution;
. $500 USD (or equivalent) minimum deposit
. 10% stop-out level
"We are excited to partner with Zulutrade and provide our clients with access to Zulutrade forex auto trading platform. Whether you are new to forex trading or have some experience, this is a great tool to move your trading to a new professional level without having to personally monitor your trading activity all the time", says Maritza Garcia, Forex-Metal's VP of Business Development.
To open a Zulutrade account, please visit https://forex-metal.com/accounts/newtabs?zulutrade=true
35% TRADING BONUS IS ON AGAIN!
Get a cash bonus of up to $15000 when you deposit funds into your account for the first time.
The full bonus conditions are available here: https://forex-metal.com/discount/bonus35
If you have just opened a trading account with us and fund it, 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 that you would like to receive the bonus, 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. Forex-Metal Partners With Zulutrade
4. Get a 35% trading bonus when you open a new account.
5. Representatives Wanted!
Weekly review for: 11 - 15. 06.12
Euro: On Monday, the Euro gaped up strongly against most major currencies on the background of the news that the European governments have agreed on providing financial assistance to Spain. The EU stabilization fund expected that Spain needs will require up to 100 billion Euros. Moreover, unlike other countries, Spain in exchange for receiving assistance aid would not need to make any retrenchments. The requirements for this help would apply only on its financial sector. The EUR / USD pair was traded around $ 1.2637 at the open and, however, fell steeply down at the following sessions to the lows of $1.2530.The reason for this fall was a still remained pressure on the currency due to the coming on June 17 parliamentary elections in Greece. The euro continued to fall on the next day on the background of growing of the Spanish bonds yields’ to their maximum level of 6, 728 % - the highest level since 29 November 2011 and also after the Fitch Ratings agency informed that Spain will not be able to reach the target level of fiscal deficit. In addition to it, the agency downgraded the rating of 18 Spanish banks. All these negative factors increased again investors’ fears of worsening debt crisis in Europe. The EUR/USD pair fell into the $1.2443 area on that day. The slight growth of the currency on Wednesday was limited due to the results of auctions of Italian government bonds, which recorded an increase in yields to the level of 3.972 % versus 2.34 % for a similar previous release. The downtrend started on Monday was broke on the results of published report on Industrial Production in the euro area the decline of which in April was not so high than the average of analysts’ forecasts. The Euro continued to strengthen against its competitors till the end of the week regaining back all of its losses on expectations of the positive result of Greek elections.
U.S. Dollar: The dollar opened this week on negative note due to the falling demand for save heaven assets, in connection with the good news from Spain. The speech of the President of the Federal Reserve Bank of Chicago, Mr. Charles Evans put some pressure on the currency and the greenback fell against major currencies on Tuesday. Mr. Evans said that he will support a wide range of measures for creating an increase in the number of jobs in the US country. He also stated that: "More asset purchases would be helpful. More purchases of mortgage-backed securities - that's good”, meaning by that that he would welcome almost any adaptive policy. The market sentiment after this speech turned away from the expectations for the new round of quantitative easing in the U.S. On the background of published report on U.S. Retail Sales which fell in May for the second consecutive month the dollar dropped against almost all traded currencies. The market participants thought that the issue could show a new sign of a slowing of the U.S. economy. The dollar index on Friday closed this week at 81.5 mark losing about 1%.
British Pound: The pound rose to its last week highs supporting by the positive market’s sentiment. Although, the report on Industrial Production in the UK rose did not match the analysts expectations the pound grew against its competitors. The Industrial Production in the UK fell to 0.0 % on monthly bases versus forecasted growth to 0. 1%. At the end of the week on Friday the GBP / USD couple showed a very good strength rocketing to the highs of 1.5720 in the last two sessions.
Japanese Yen: The Yen as a Dollar was not at demand at the beginning of this week due to the positive market sentiment which was based on good news from Spain. On Tuesday, after the International Monetary Fund had revealed its readiness to except Japan's attempts to weaken the national currency the Yen stopped its growth and pulled back falling against major currencies. In details, accordingly the published information, the First Deputy Managing Director of the Foundation, Mr. Lipton said: "We would understand Japans intervention in foreign exchange market." As the result, the Yen fell against the Dollar to the Y79.70 level. On Friday, the Japanese yen broke down the important level of 79. 20 against the dollar on concerns of results of Greek elections.
Australian dollar: The Australian dollar rose on the reports from China which came out with mixed results. In details, the reports showed decrease in inflation and in Industrial Production yet demonstrated the strong results on exports and imports which reduced concerns about the slowing of the Chinese economy in the nearest future.
New Zealand dollar: After the May’s index of Housing Prices of New Zealand showed a growth, the currency dollars pulled back winning back some of the its recently lost positions.
Weekly TECHNICAL ANALYSIS for 18 - 22.06, 2012
EURUSD
The pair is aiming to resistance at 1.28800.
Resistance: 1.28800, 1.33427, 1.37441
Support: 1.25667, 1.20280, 1.17063
GBPUSD
The pair’s resistance is 1.59962. Support is 1.52523.
Resistance: 1.59962, 1.64274, 1.68504
Support: 1.52523, 1.48532, 1.43344
USDCHF
The pair is aiming to the Moving Average 0.93264.
Resistance: 0.96597, 0.99031, 1.01369
Support: 0.93264, 0.91074, 0.88022
USDJPY
The pair has broken 80.244 but couldn’t reach 76.535. The pair may return to 80.244.
Resistance: 80.244, 83.330, 86.836
Support: 76.535, 73.126, 69.117
AUDUSD
The pair is aiming to the median line at 1.02679.
Resistance: 1.01873, 1.03847, 1.05810
Support: 1.00592, 0.97889, 0.94417
Forex-Metal Partners With Zulutrade
Forex-Metal, a leading online Forex and CFD broker, has announced a partnership with Zulutrade, the largest forex automated trading signals platform that provides access to thousands of signals providers from around the world and converts their signals into live trades on clients' trading accounts. This allows traders to have free access to other traders' strategies and experience.
The following features apply to Zulutrade Forex-Metal accounts:
. Access to thousands of top-performing signal providers;
. No requotes and no dealing desk trading;
. over 60 forex pairs plus gold and silver;
. USD-, EUR-denominated accounts;
. Low spreads starting from 1.5 pips;
. 0.01 lot minimum trade size;
. Maximum 10 lots per single trade;
. Floating leverage from 1:1 to 1:1100;
. Market execution;
. $500 USD (or equivalent) minimum deposit
. 10% stop-out level
"We are excited to partner with Zulutrade and provide our clients with access to Zulutrade forex auto trading platform. Whether you are new to forex trading or have some experience, this is a great tool to move your trading to a new professional level without having to personally monitor your trading activity all the time", says Maritza Garcia, Forex-Metal's VP of Business Development.
To open a Zulutrade account, please visit https://forex-metal.com/accounts/newtabs?zulutrade=true
35% TRADING BONUS IS ON AGAIN!
Get a cash bonus of up to $15000 when you deposit funds into your account for the first time.
The full bonus conditions are available here: https://forex-metal.com/discount/bonus35
If you have just opened a trading account with us and fund it, 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 that you would like to receive the bonus, 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.
________________________________________