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[GFusa]

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[Forex-Metal]

In this issue:
1. Weekly market review.
2. Weekly technical analysis
3. 30% trading bonus is on again!
4. Representatives Wanted.
5. Economic Calendar, Pip value calculator and other useful links.

1. Weekly review for 16 – 20. 08, 2010
The first trading day of the previous week saw Japanese yen growth against the major currencies. Japanese Gross Domestic Product indicators, released on Sunday, turned out to be below expectations. The GDP annualized for the second quarter decreased to 0.4% against the forecasted 2.3%. Therefore, the outlook for the world rehabilitation rate dropped. Consequently the demand for the save-haven currencies increased. The speculations regarding the slow-down of the world rehabilitation rate pressured the New Zealand dollar rate. And the dropped expectations for the possible increase of the principal rate of Australia pressured the national currency rate.
The greenback decreased on Monday against the euro due to the released negative US fundamentals. The Empire Manufacturing index for August turned out to be the level of 7.10 against the forecasts of 8.0. The Net Long-term TIC flows for June was at the level of $44.4 Billion when the predicted level was $45.7 Billion. And, finally, the NAHB housing market index for August dropped to the level of 13 against the expectations of 15 and previous level of 14.
Risk appetite has moved higher on Tuesday, and the save haven currencies were under pressure. The EUR/USD pair showed maximums at the level of $1,2915. But the release of the German ZEW Survey (Economic Sentiment) for August rendered negative influence on the euro. The indicator showed unexpected reduction to 14 against its forecast of 20. And the EUR/USD rate dropped to $1.2860.
The sterling traded in the range of $1,5630-$1,5700 against the American dollar on the same day. Following the release of the annualized Retail Price index for July, which happened to drop to 4.8% against the forecast of 4.9%, the sterling rate decreased. The increased interest this week was placed on the Bank of England Minutes, which was planned to be released on Wednesday.
The Japanese yen continued to trade at the level of its maximums, nevertheless, the rate was under pressure for the following reasons: the head of the Bank of Japan and the Prime minister of Japan could probably discuss the recent rally of the national currency at their upcoming meeting. According to the growing speculations, the possible Bank of Japan intervention could be arranged in the nearest future, aimed to limit the further rate growth.
The British Pound managed to reach maximums at the level of $1.5669 during the European session on Wednesday as the released Bank of England minutes showed that one of the members suggested to raise the principal rate to 0.75%. The board member Andrew Sentence expressed his confidence that "economic conditions had improved over the past 12 months". The EUR/USD pair showed maximums at $1.2908. Among the released fundamentals, we should mention the Euro-zone construction output for June, which demonstrated growth to 2.7%.
Concerns over the Euro-zone rehabilitation rate slow-down pressured the euro on Thursday. In particular, the social tensions in Greece, as an outcome of the rigid economy measures, created additional negative influence over the Euro-zone outlook. According to the experts’ forecasts, the unemployment rate in Greece would show growth. The EUR/USD rate decreased to the $1.2800 level. The gold metal dropped to $1229.28 after the reached maximums. The gold price was also pressured by the growing concerns over the social tension in Greece.
The greenback managed to rehabilitate as the demand for the risky assets dropped on Thursday. This was a result of the US negative fundamentals release. The initial jobless claims grew and reached 500K against the forecasted 478K. The Philadelphia Federal index for August decreased to -7.7 against the expected 7.0 and previous level of 5.1.
Friday saw the EUR/USD minimums at the level of $1.2661, as the announcement of Aleks Weber was released, regarding the possibility that the Euro-zone economy would need additional support from the ECB up to the end of the year. Therefore the demand for the risky assets decreased drastically. The GBP/USD pair dropped to $1.5462.
Happy trading!

2. Weekly technical analysis for 23-27.08.10
EURUSD
The pair may find support at 1.26362 Fibonacci 23.6%. If this level is broken the pair will continue declining, next aim maybe at 1.23907.
Resistance: 1.28630, 1.30277, 1.31181
Support: 1.27009, 1.25690, 1.23907
GBPUSD
The pair is aiming to 1.54842. This level may give support to the pair. If the pair breaks this level and closes below, then the pair will continue declining to 1.52523.
Resistance: 1.56722, 1.58543, 1.60322
Support: 1.54843, 1.52523, 1.50581
USDCHF
If the pair breaks 1.02747 the pair will drop to 1.01498.
Resistance: 1.03987, 1.05139, 1.06179
Support: 1.02747, 1.01498, 1.99821
USDJPY
The pair is trading in the narrow range between 86.246 and 85.161.
Resistance: 86.246, 87.014, 87.728
Support: 85.161, 84.260, 83.330
AUDUSD
If the pair stays below 0.89029 the pair may decline to 0.87243. If the pairs stays above 0.89029 the pair may rise to 0.90284.
Resistance: 0.90284, 0.92170, 0.93788
Support: 0.89029, 0.87243, 0.85760

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[thefxguru]

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[Forex-Metal]

The negative fundamental docket influences the risk attitude.

Asian and European trading sessions:
Euro: The Euro-zone fundamental outlook for the upcoming data is rather weak, which rendered additional pressure on the high-risk assets. The German IFO business climate is expected to show decline from the previous month. Its forecast was set at 105.5 when the previous month resulted in 106.2 level.
The EUR/USD pair traded in the range of $1,2680-$1,2730.
US Dollar: The US fundamentals had negative forecasts as well. The existing home sales level was expected to show considerable decrease.
British Pound: The sterling managed to rise above the $1,5600 mark against the greenback.
Japanese Yen: Safe haven currencies were supported during the morning trading. Concerns over the world economy rehabilitation reinforced the demand for the low-risk assets. In addition, the Japanese merchandise trade exports and imports are expected to decrease. Japanese yen strengthened against its competitors.
The USD/JPY rate dropped to Y85,30.
Australian Dollar: According to the released results of the Australian Parliament elections, none of the political parties managed to reach the majority vote. Therefore, the Australian dollar was under pressure.

American trading session:
Euro: The released Euro-zone fundamentals on Monday, rendered additional pressure on the euro. The Euro-zone purchasing manager index manufacturing decreased to 55.0 from the 56.7 level from the previous month. The Euro-zone purchasing manager index services dropped to 55.6 from 55.8.

Technical analysis for 24/08

EURUSD
The pair has dropped to Fibonacci 1.26379. If the pair breaks this level and closes below, then the pair may continue declining. The next aim maybe found at 1.25690.
Resistance: 1.27009, 1.28630, 1.30277
Support: 1.26389, 1.25690, 1.23907
GBPUSD
The MACD divergence forces pair to drop. First aim at 1.52523.
Resistance: 1.54842, 1.56722, 1.58543
Support: 1.52523, 1.50581, 1.48532
USDCHF
The MACD divergence doesn’t let pair to decline. If 1.05139 is broken the pair will rise to 1.06179. If the pair stays below 1.03987 the pair will decline to 1.02747.
Resistance: 1.05139, 1.06179, 1.07258
Support: 1.03987, 1.02747, 1.01498
USDJPY
The MACD divergence forces pair to rise. If the pair stays above 85.161 the pair will rise to 86.246. If the pair stays below 85.161 the pair will drop to 84.260.
Resistance: 86.246, 87.014, 87.728
Support: 85.161, 84.260, 83.330
AUDUSD
The pair has dropped to 0.89029 and trying to close below this level. This may bring pair to test 0.87243.
Resistance: 0.89029, 0.90284, 0.92170
Support: 0.87243, 0.85760, 0.84238

[uri88]

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[Forex-Metal]

The impact of the US housing data was beyond expectations.

Asian and European trading sessions:
Euro: The EUR/USD rate traded in the range of $1,2610-$1,2660 during the Asian session. The European session showed minimums at the level of $1,2600.
US Dollar: The greenback strengthened as concerns over the slow-down of the world economy rehabilitation reinforced.
British Pound: The sterling rate dropped after the statement of the Bank of England representative that Great Britain might experience second recession.
The GBP/USD pair decreased to the $1,5370 range.
Japanese Yen: Growing demand for the safe haven currencies rendered considerable support to the yen, since the expectations for the negative fundamentals in the USA, Japan and Germany influenced risk appetites.
The USD/JPY pair renewed its 15-year minimums at the Y84,14 mark.
Gold: Gold prices showed decrease to the $1,220.50 level per ounce.
Oil: Morning trading saw drop of the oil prices to the level of $72.78 per barrel. European session brought oil rate to the $72.15 minimums.

American trading session:
US Dollar: The impact of the released US housing data was beyond expectations. The US existing home sales decreased for 27.2% (against the forecasted drop of 13.4%), which was the fastest pace of decline since 1999. These results disappointed market participants. As a result, according to the experts’ forecasts, the FRS could undertake additional financial infusion into the economy and hold the interest rate close to zero for an extended period of time.

Oil: The oil rate dropped after the release of the US fundamentals to the minimums of $71.63 level per barrel.

Technical analysis for 25/08

EURUSD
The pair has dropped to Fibonacci 1.26326. If the pair breaks this level and closes below, then the pair may continue declining. The next aim maybe found at 1.25690.
Resistance: 1.27009, 1.28630, 1.30277
Support: 1.25690, 1.23907, 1.21813
GBPUSD
The MACD divergence forces pair to drop. First aim at 1.52523.
Resistance: 1.54842, 1.56722, 1.58543
Support: 1.52523, 1.50581, 1.48532
USDCHF
The MACD divergence doesn’t let pair to decline. If 1.05139 is broken the pair will rise to 1.06179. If the pair stays below 1.02747 the pair will decline to 1.01498.
Resistance: 1.03987, 1.05139, 1.06179
Support: 1.02747, 1.01498, 0,99821
USDJPY
The MACD divergence forces pair to rise. If the pair stays above 85.161 the pair will rise to 86.246. If the pair stays below 84.260 the pair will drop to 83.330.
Resistance: 85.161, 86.246, 87.014
Support: 84.260, 83.330, 82.016
AUDUSD
The pair has dropped to 0.89029 and trying to close below this level. This may bring pair to test 0.87243.
Resistance: 0.89029, 0.90284, 0.92170
Support: 0.87243, 0.85760, 0.84238

[DickP]

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[Forex-Metal]

The beginning of the previous week saw the sharp of the Japanese yen against its major competitors. At the extraordinary meeting on Monday, the Bank of Japan left the principal rate unchanged at the level of 0,1% and increased credit facilities to 30 trillion yen. But the speculations pointed out that those measures were not enough to weaken the national currency.
On the same day the Euro-zone fundamentals showed unexpected encouraging results. The Euro-zone consumer confidence turned out to be -11, while the forecast was -12. The Euro-zone economic confidence resulted at the level of 101.8 against the predicted 101.6. But the speculations regarding the possibility that ECB would decide to continue its economy stimulating program into the next year pressured the euro. The EUR/USD pair traded in the range of $1,2710-$1,2770.
The UK financial markets were closed for the holiday on Monday, but the sterling demonstrated increase due to the released fundamentals. The Gfk Consumer confidence survey for August turned out to be above expectations: -18 against the forecasted -24 and the previous level of -22. As a result, the GBP/USD rate strengthened at the level of $1,5560.
Opposing its decline during the three previous days, the greenback showed a steady growth on Monday. Personal spending for July increased to 0.4% against expected 0.3%, at the same time Personal income for the same month turned out to be 0.2% against expected 0.3%. At the same time following the release of the negative fundamentals in Canada, the speculations regarding the slow-down of the Canadian economy rehabilitation rate increased. The industrial product price turned out to be 0.1%, which was below the expectations of 0.4%. The Current Account (BoP) dropped to -$11.0B. As a result the Canadian dollar dropped against the greenback.
On Tuesday the EUR/USD pair showed minimums in the range of $1,2640. The released Euro-zone unemployment rate for July turned out to be at its high level of 10%, just as expected. According to the experts’ opinion, the ECB will leave the principal rate unchanged during their meeting on Thursday. At the same time the Japanese yen continued its rally against its competitors against the background of the negative expectations for the US employment statistics.
The US Consumer confidence indictor for August was published on Tuesday, which showed an unexpected growth to 53.5 level against the forecast of 50.7 and previous month’s level of 51.0. As a result, the stock market was supported and the greenback dropped against the euro. Risk appetites increased. According to the released FOMC minutes, the economic activity in the second half was predicted to be weaker, than initially expected and that the recovery may weaken further.
High-risk assets were supported on Wednesday by the released positive fundamentals from Australia and China. The EUR/USD pair grew above the level of $1,2700. The European trading session set maximums at the $1.2800 mark. The Australian Gross Domestic product for the second quarter showed unexpected growth for 1.2% against the forecast of 0.9%. This factor boosted the risk sentiment of Wednesday. And the released Chinese business activity manufacturing index showed growth and turned out to be above its forecast.
The yen demonstrated decrease against the greenback and the euro during the morning trading as the demand for the save-haven currencies dropped, as optimistic fundamentals were published in Australia and China.
The sterling also showed consolidation and the GBP/USD pair reached $1,5400. But the Manufacturing Purchasing manager index for August dropped to 54.3 against its forecast of 57.0, and the pound reacted with a decrease.
The advance of the euro fully depended on the risk sentiment on Wednesday, but market participants were looking towards the ECB decision planned for the next day publication.
The released US fundamentals rendered additional support to the high-yielding assets. The ISM manufacturing for August turned out to be 56.3, above its forecast of 52.8 and previous level of 55.5. As a result, the greenback strengthened against the yen. In addition, the US stock markets closed the trading day on Wednesday with a considerable growth, and the concerns over the double-dip recession weakened.
Morning trading on Thursday was effected by the released Australian trade balance, which showed surplus reduction to 1888 billion Australian dollars against the forecast of 3100 billion Australian dollars. As a result, the investors’ willingness to take risks dropped and the Australian dollar reacted with a decrease as well.
Market participants were under pressure of expectations for the ECB decision. The EUR/USD pair traded in the range of $1,2770-$1,2820. The released Euro-zone data was positive and supported the euro: in particular, the Euro-zone Gross domestic product increased for 1.9% and the Euro-zone household consumption grew for 0.5%.
The ECB left the interest rate unchanged at the previous level of 1.00%. The program of the immediate banks’ crediting was continued for 2011 as well. The head of the ECB, Jean-Claude Trichet, mentioned at his statement, that the double—dip recession was not actual at the moment.
On Thursday investors were under pressure of expectations for the negative US fundamentals. The US change in non-farm payrolls in August, which was planned to be released on Friday, was expected to drop for 105K after the drop for 131K in July. The US pending home sales demonstrated an unexpected increase for 5.2% against the forecasted drop for 1.0%. This data supported traders’ risk sentiment. Being supported by the positive US fundamentals and Mr.Trichet statement, the euro grew against the greenback and showed confident stabilization.
The sterling decreased to the range of $1,5360. The negative Great Britain fundamentals pressured the pound. The Nationwide house prices decreased below expectations and the Purchasing manager index construction turned out to be below its forecasts.
We should mention, that the released on Thursday annualized Swiss Gross domestic product showed unexpected increase for 3.4% against the forecasted increase only for 2.6%. As a result, the Swiss frank demonstrated considerable growth against the greenback.
New incident at the Gulf of Mexico, which reported of oil leakage, pushed the oil rate higher. As a result, the oil price reached $74.26 mark per barrel.
Friday’s release of fundamentals surprised investors. The US change in non-farm payrolls resulted in a decrease of only 54K instead of expected drop of 103K. Therefore, the EUR/USD pair managed to show maximums at the level of $1,2897.

Weekly technical analysis for 6-10.09

EURUSD
The pair found support at Fibonacci 23.6% and rose to 1.28904. If the pair stays above 1.28630 the pair will rise to 1.31181. If the pairs stays below 1.28630 the pair will drop to 1.25690.
Resistance: 1.28630, 1.30277, 1.31181
Support: 1.25690, 1.23907, 1.21813
GBPUSD
The pair has risen to 1.54842. If the pair breaks this level and closes higher, the pair will rise to 1.56722. If the pair closes below 1.54842 the will decline to 1.5252.
Resistance: 1.54843, 1.56722, 1.58543
Support: 1.52523, 1.50581, 1.48532
USDCHF
The pair has dropped to 1.01498 and aiming to 0.99821.
Resistance: 1.02747, 1.03987, 1.05139
Support: 1.01498, 0.99821, 0.98567
USDJPY
The pair is trading in the narrow range between 85.161 and 83.330. Bullish MACD divergence doesn’t pair to drop lower.
Resistance: 85.161, 86.246, 87.014
Support: 83.330, 82.016, 79.982
AUDUSD
The pair has risen to 0.91561. The strong resistance maybe met at 0.93788.
Resistance: 0.92170, 0.93788, 0.94898
Support: 0.90284, 0.89029, 0.87243

[aaffxx]

Thanks for filling us in Forex Metal

[Forex-Metal]

The first day of the previous week did not show any interesting movements of the currency pairs, since American and Canadian investors were not participating in trading due to the Labor day celebrations the financial markets of the US and Canada. At the same time expectations for the release of the positive Euro-zone fundamentals supported the euro during the morning trading on Monday. In particular, it is forecasted that the German factory orders will show growth for 0.5% for July. And the EUR/USD rate reached the $1.2920 mark. The sterling also managed to show maximums at the level of $1.5490. The UK 3Q growth in manufacturing production demonstrated record-breaking increase. The BRC August retail sales monitor showed increase from its previous level. It should be mentioned that the credit agency S&P confirmed the credit rating of Australia at the AAA level, and pointed out that the financial consolidation would continue during 2011.
A new wave of concerns over the former European bank stress test results pressured the euro on Tuesday. The Association of German banks stated that 10 leading banks might need additional capital in order to comply with new norms and regulations. As a result, the euro dropped against major currencies. Morning trading showed EUR/USD minimums at the level of $1,2760. The German factory orders for July decreased for 2.2%, when experts predicted increase for 0.5%. This factor reflected in an additional decrease of the EUR/USD pair to the $1.2734 range. The potential for European defaults alarmed the market participants again.
According to the expectations, the Bank of Japan left the principal rate unchanged at the level of 0.1% on Tuesday. Following the decision statement read, that the Japanese economy showed signs of moderate rehabilitation, and the monetary policy would continue to be soft. The yen showed stabilization against its major competitors. The USD/JPY pair showed minimums at Y83.70.
According to the forecasts, on Tuesday the Reserve bank of Australia left the principal rate unchanged at the level of 4.50% for the fourth consecutive meeting. The following statement read, that the global economy forecast stayed uncertain. Therefore, the Australian dollar dropped against competitors.
On Wednesday the euro continued to be under pressure of the former European banks stress test results. The EUR/USD pair traded in the range of $1,2680, and showed minimums at $1,2660 mark. Member of the ECB board of directors, Axel Weber, stated today, that the double-dip recession or deflation were not expected, but it was too “early to say that the crisis was over as the future outlook remained uncertain”. At the same time sterling managed to grow against its competitors after the publication of the positive data. The monthly Halifax House prices for August showed increase for 0.2% compared to the expected decrease for 0.5%. Manufacturing production growth for July stayed within its forecasts of the 0.3%. The GBP/USD reached maximums at the $1,5490 mark.
At the same time the yen continued to demonstrate increase against the US dollar, and renewed its 15-year maximum as the new wave of speculations over the US economy slow-down reinforced. The USD/JPY dropped to the range of Y83.30. But the speculations regarding the possible intervention of the Bank of Japan, pressured the yen, and the national currency stepped back from the reached positions.
According to the expectations, the Bank of Canada increased the principal rate to 1.00% on Wednesday, and the Canadian dollar demonstrated growth.
At the same time the release of the Beige Book report showed, that the US economic activity demonstrated slow-down signs, manufacturing industry continued to grow, but its growth rate decreased.
On Thursday the euro was pressured after the announcement of the Member of the ECB's Executive Board, Jürgen Stark, who mentioned that some of the German banks needed additional capital. This statement also supported the released information from this week, that 10 largest German banks needed additional capital to comply with new norms and conditions. The EUR/USD rate dropped to the range of $1.2670. The sterling also dropped to the $1,5400 mark during the morning trading. The Bank of England interest rate decision met its expectations at 0.50%, and continued to maintain its asset purchase target at GBP 200B. Therefore, the sterling did not demonstrate much reaction to these releases.
Australian dollar was supported by the released economic docket on Thursday, which showed the decrease of the Australian unemployment rate on August to 5.1% from 5.3% on previous month and forecasted level of 5.2%. As a result, the Australian dollar hit its 4-month maximum against the US dollar. The expectations over the possible increase of the principal rate reinforced.
The released US fundamentals on Thursday turned out to be better, than their forecasts. Therefore, the American session demonstrated stabilization of the high-yielding assets over the save-haven currencies. In particular, the US initial jobless claims decreased to 451K against the expectations of 470K. And the special report showed the decreased US trade balance deficit to $42.8 billion against the expected deficit of $47.0 billion.
On Friday the positive trading attitude was a result of the released trade surplus of China, which weakened the save-haven currencies.

Weekly technical analysis for 13-17.09 2010

EURUSD
The pair is under pressure of trend lines. Support maybe found at 1.24324. Strong resistance maybe met at 1.33427.
Resistance: 1.2800, 1.33427, 1.37441
Support: 1.24324, 1.20280, 1.17063


GBPUSD
The pair is testing support 1.52523. At the same level is Fibonacci 23,6%. If the pair closes below 1.52523 the pair may drop to the next support at 1.48527. If the pair stays above 1.52523 the pair may rise to the Moving Average (100) at 1.59962.
Resistance: 1.54843, 1.56722, 1.58543
Support: 1.52523, 1.50581, 1.48532


USDCHF
The pair has reached channel line. If the pair closes below 1.01369 the pair may continue declining. Support maybe found at 0.99031.
Resistance: 1.04484, 1.06321, 1.12546
Support: 1.01369, 0.99031, 0.96525


USDJPY
The pair has found temporary support at 83.330. If the pair stays below this level, the pair will decline to 80.244. If the pair stays above 83.330 the pair will rise to 86.836.
Resistance: 86.836, 90.909, 94.705
Support: 83.330, 80.244, 76.535


AUDUSD
The pair is aiming to test resistance at 0.94048.
Resistance: 0.94048, 0.97889, 1.00031
Support: 0.89581, 0.85561, 0.80827

[Forex-Metal]

In this issue:

1. Weekly market review.
2. Weekly technical analysis
3. Special promotion: get 30% trading bonus for using Moneybookers!
4. Representatives Wanted!
5. Economic Calendar, Pip value calculator and other useful links.


1. Weekly review for 13 – 17. 09, 2010

In the beginning of the previous trading week market participants were inspired by the released fundamentals from China. The risk sentiment grew and the greenback was pressured on Monday.
In particular, the manufacturing production data in China demonstrated growth in August for 13,9%. Speculations, that the world economy rehabilitation rate was growing, reinforced.
At the same time the euro received strong support from the decision of the Basel Committee on Banking Supervision from the previous weekend, which stated that lenders would be given eight years to comply with the set capital requirements intended to prevent future crises. This ruling would not hurt the balanced banking system and at the same time was aimed to reform the risk-management system. As a result, the EUR/USD pair demonstrated maximums around the $1,2830 mark.
The Australian dollar showed sharp growth as well, as a result to the strong Chinese economic docket.
The oil prices increase above the $77.00 level as the demand for the raw materials in the USA and China grew.
On Tuesday the EUR/USD strengthened above the $1.2900 mark and the daily maximum was reached at the level of $1.2910. Nevertheless, the euro was under pressure during the day, due to the released German ZEW survey (economic sentiment) for September, which dropped to 4.3 against the predicted increase for 10.
The sterling traded in the range of $1,5340-$1,5440 on the same day. The released UK fundamentals pressured the pound. In particular, the published on Monday RICS House Price Balance for August showed a sudden decrease for 32% against the forecasted drop for only 12%. At the same time, the released on Tuesday annualized consumer price index for August demonstrated increase for 3.1% against the forecasted 3.0%, which supported the sterling.
The USD/JPY rate renewed its 15-year minimums at the Y83,07 mark on Tuesday. The yen was supported by the speculations that if the Prime Minister Naoto Kan would win in the current internal party elections, the possibility for the government intervention decreased. As a result of the elections, the Prime Minister Naoto Kan won. According to the released information, the Japanese authorities intervened against the national currency and hoped that it would stabilize the FX market.
The New-Zealand retail sales data for July, which was published on Monday, demonstrated an unexpected decrease for 0.4%. As a result, the national currency dropped against the US dollar, since the possibility for the increase for the interest rate reduced.
On Wednesday the trading dynamics changed. The released disappointing Euro-zone fundamentals could not support the euro. The annualized Euro-zone employment for the second quarter was unchanged at the 0%, and the Consumer price index-core for August turned out to be at the level of 1.0%.
We should mention, that the sterling demonstrated volatile trading on Wednesday, compared to its major competitors. The pound was influenced by the published UK fundamentals. The jobless claims grew for 2.3K compared to the expectations for a decrease of 3.0K. The GBP/USD rate set minimums at the $1.5450 mark. Its maximums were set at the level of $1.5560.
Aimed to weaken the national currency, the Japanese government executed an intervention. The USD/JPY rally showed the biggest daily advance since October 2008. Due to the speculations, this intervention wasn’t a one-time initiative and was done without any support from the ECB or FRS. According to the experts’ opinion, the results of this intervention would be doubtful. The Japanese yen rate has been growing as a save-haven currency against the background of the concerns over the US economy slow-down rehabilitation rate and Euro-zone banking system instability, which continue to pressure investors today as well. The USD/JPY rate stabilized at the level of Y85,50.
According to the expectations, the Reserve Bank of New Zealand left the principal rate unchanged at the previous level of 3.0% for the second time already. The national currency reacted with a decrease.
The British pound was under pressure on Thursday as the negative UK statistics was released. All the retail sales indicators demonstrated unexpected reduction.
On the same day according to the expectations, the Swiss National bank decided to leave the principal rate at the previous level of 0.25%. But the trailing comments led to the reduction of the national currency against its most competitors. The Swiss National Bank lowered the inflation forecast for 2010 to 0.7% from 0.9% and commented that the economic future outlook remained uncertain.
Diverse US fundamentals were released on Thursday. The greenback showed decrease against the euro. The Philadelphia Fed index for September demonstrated a drop for 0.7 against the predicted increase for 0.5. At the same time the Net long-term TIC flows increased for July to $61.2B. The initial jobless claims dropped below the forecast to 450K.
On Friday the EUR/USD pair reached maximums at the level of $1.3158, and the GBP/USD set its maximum at the $1.5727 mark.

Happy trading!


2. Weekly technical analysis for 20-24.09 2010

3. Get 30% bonus for using Moneybookers.

Make your first deposit using Moneybookers and receive a 30% bonus. In fact, even if you already had a bonus before, but will use Moneybookers as a payment option for a first time, we will give you another deposit of 30% or up to $3000 maximum!
The full bonus conditions are available here: https://forex-metal.com/discount/discount09

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 haven't opened the account yet, you can open it here: https://forex-metal.com/accounts/new
If you would like to receive the bonus, please contact us at [email protected] and confirm the bonus amount you would like to receive, at the time your account is being funded.


4. 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 [email protected] or talk to our operators via live chat and they will put you to the right person.


5. Economic Calendar, Pip value calculator and other useful links.

• 4 major currency pairs are now also available for trading with market execution. All trading on our platform is done as instant execution, however for USDJPY, EURUSD, USDCHF and GBPUSD you now have a choice to trade them with instant or market execution. To trade these pairs with market execution right click on your symbols, choose Symbols in the menu, then in the section Forex choose these 4 pairs with letter M at the end, i.e. EURUSD_M and press Show.


• The general trading conditions and to open an account click here:
https://forex-metal.com/accounts/new

• Make an instant deposit into your account using credit card, Liberty Reserve or other methods. Visit the Deposit Funds page for full list of available payment methods:
https://forex-metal.com/fund_transactions/new

• Economic Calendar: https://forex-metal.com/ecpresentations

• Pip value calculator: https://forex-metal.com/home/pip_calculator

• No-swap or Islamic accounts.
Did you know that you can have a no-swap account or Islamic account at Forex-Metal?
We offer two types of no-swap accounts: with gifts and donations and without gifts and donations.
No-swap account with gifts and donations: with very small credits (gifts) and debits (donations) on your trading account which are approximately equal to the swap amounts. No account costs.
No-swap account without gifts and donations: no additional credits or debits, only spreads (the same spreads, no difference from the regular account). No account costs.

[cutter]

You guys aren't currenex are you? I started this other discussion about it, and I don't see that you are anywhere, but regardless, why don't you explain to me why I don't need a currenex broker, will I be safe with lets say a $5000 at forex metal? Will you have different level accounts like standard, mini that will force upon me higher spreads than the lowest advertised?

Thanks for your help!

[AguaFo]

Exclusive trading conditions

* $0 commission on Forex trading,
* The minimum initial deposit is $1
* 1:500 leverage
* No swap accounts and Islamic accounts
* Instant execution of orders
* Rebate to our active traders - 0.5 pip per lot traded.
* Ability to trade all instruments from a single account
* Fixed spreads on all forex pairs
* 30% first deposit bonus
* All EAs are welcome
* No requotes



Read more: http://forexforums.com/forums/forex-...#ixzz10OYFlLZQ

So, if I deposit $100 to try out your broker, I get $130 to start with?? If I deposit $500 I will get what? $650 to play with? I am interested.

[Forex-Metal]

During the previous trading week the greenback demonstrated weakness before the release of the FOMC meeting, as well, as after it. The greenback rate showed decrease as the expectations for the FOMC meeting expressed possibility of the further measures aimed to stimulate the US economy. The Federal Open Market Committee was expected to keep their benchmark interest rate unchanged at 0.25 % during the considerable period of time. The concerns over the slow-down of the US economy rehabilitation rate reinforced. And the EUR/USD pair strengthened above the $1,3100 mark. Throughout the whole day the US dollar rate continued to trade around its 5-week minimum against the euro. The demand for the save-haven currencies dropped. At the same time Monday saw a strong drop of sterling after the release of the Rightmove House prices, which showed a decrease for 1.1% in September.
Speculations regarding the possible increase of the principal interest rate at the next RBA meeting supported the Australian dollar rate growth against the major currencies. The head of the Reserve Bank of Australia, Glenn Stevens, mentioned that the boom in the mining industry was expected next year, which would contribute to the economy growth.
On Tuesday the EUR/USD pair managed to reach maximums at the $1,3145 level. Positive results of the bond auction in Spain and Ireland supported the euro. Investors’ optimism grew as the concerns over the European budget crises dropped. The greenback was still under pressure as the expectations for the negative US fundamentals (especially in the housing market) reinforced. Concerns that the US economy rehabilitation rate continued its slow down pace strengthened. Market participants were waiting for the results of the FOMC meeting. Experts’ forecasts confirmed that the FRS would keep the interest rates at the low levels during the long period of time.
At the same time the pound extended its decline and demonstrated a sharp drop on Tuesday. The GBP/USD rate reached the $1,5500 minimums. The released UK budget deficit for August showed largest figure from 1993.
According to the expectations, the interest rate was left at the previous level of 0,25%, and the FRS mentioned that the principal rate would not be increased for the extended period of time. The low rehabilitation rate during the recent months has been confirmed as well. The following decision statement also noted that the housing market was still at the depressed level. The economic outlook remained uncertain.
On the same day the yen started to strengthen again, as market participants expected the Japanese government to undertake additional measures aimed to weaken the national currency. The USD/JPY pair showed minimums at the Y85,26 mark. Due to the positive results of the US housing data, the Japanese yen rate dropped against the euro, since the demand for the high-yielding assets increased.
At the same time the Australian dollar demonstrated growth on the wave of the increased optimism.
On Wednesday the euro received some support in the threshold on the state bond auction in Portugal, which was expected to show good results, following Spain and Ireland. And the EUR/USD pair set maximums at the level of $1,3400. It was published later on, that the results of the state bond auction in Portugal were positive.
On the same day the sterling grew and reached the $1,5620 mark. It happened after the released minutes of the Bank of England for September, where Andrew Sentance continued to vote for the interest rate raise.
Meanwhile the yen continued to strengthen against the major currencies, which reinforced concerns over the possibility that Japanese government would interfere with currency market again.
Thursday saw the euro stepping back from the previously reached maximums against the greenback. The released Euro-zone fundamentals escalated investors’ concerns over the rehabilitation of the European economy. In particular, the Euro-zone Purchasing manager Services index dropped to 53.6, when it was expected to decrease only to 55.5. The Euro-zone Purchasing manager Manufacturing index also dropped unexpectedly to 53.6, which was below the forecasted level of 54.5.
At the same time the released US fundamentals supported the US dollar rate a little during the American trading session, and the greenback stabilized against the euro, as a safe haven currency. The initial jobless claims grew to 465K against the forecast of 450K. The existing home sales showed an unexpected growth to 4.13M over the forecasted 4.10M. The leading indicators index showed increase to 0.3%.
On Friday the euro managed to reach maximums at the level of $1.3495, as the positive European fundamentals were released. The German Ifo Business climate and German Current assessment indices for September turned out to be higher than forecasted. At the same time the US durable goods orders dropped below expectations and the US New home sales for August were below the predicted level as well.

Weekly technical analysis for 27-01.10 2010
EURUSD
The pair has risen to the Moving Averages 100 and 200 at 1.35015. The pair may roll back to support line at 1.33427.
Resistance: 1.37441, 1.41130, 1.44835
Support: 1.33427, 1.2800, 1.24324


GBPUSD
The pair is aiming to the Moving Average (100) at 1.59962. The pair may roll back after testing Moving Average.
Resistance: 1.59962, 1.64274, 1.68504
Support: 1.52523, 1.48532, 1.43343



USDCHF
The pair has tested support at 0.99031. If the pair closes above this level, the pair will rise to 1.00614.
Resistance: 0.99031, 1.01369, 1.04060
Support: 0.96525, 0.93770, 0.91074


USDJPY
The pair wasn’t able to close above 86.836 and declining. Support at 83.330.
Resistance: 86.836, 90.909, 94.705
Support: 83.330, 80.244, 76.535



AUDUSD
The pair has broken 0.94048 and risen to 0.96201. The pair may roll back to support 0.94048.
Resistance: 0.97889, 1.00031, 1.02299
Support: 0.94048, 0.89581, 0.85561

[tab]

Hey Forex Metal, sorry if I missed it but where are you guys based out of ? You aren't bound by these new leverage restrictions are you?

[Forex-Metal]

In this issue:

1. Weekly market review.
2. Weekly technical analysis
3. New low spread on EURUSD.
4. 30% trading bonus is on again!
5. Representatives Wanted!
6. Economic Calendar, Pip value calculator and other useful links.


1. Weekly review for 4 – 8. 10, 2010

During the whole previous trading week the euro was demonstrating strength over the weakening US dollar. But on Monday the euro was under temporary pressure due to the negative influence from the European banking sector. The released information, that the budget deficit of Ireland was expected to show a higher figure, rendered additional pressure to the euro. The EUR/USD pair decreased to the $1.3665 figure. The sterling showed negative dynamics as well and the GBP/USD rate dropped to the $1.5750 mark. At the same time, the released fundamentals were positive on Monday: the UK Purchasing manager index construction for September grew to 53.8.
Market participants were waiting for the results of the Bank of Japan meeting, which started on Monday as well. According to the expectations, the Bank of Japan would decide to take additional measures to support the Japanese banks and buy out the state bonds. The interest rate was expected to be left at the previous level of 0.1%. As a result, the yen stopped its growth against the greenback.
On Tuesday the EUR/USD rate managed to grow and reach its trading session maximums at the level of $1.3792. The release of the strong European statistics supported the euro growth, which also reinforced the speculations over the increased growth rate of the European economy rehabilitation. European PMI data showed better than expected results, which lifted the risk appetites. At the same time, the Euro-zone retail sales demonstrated weaker results, compared to the forecasts, but did not have an impact of the price movement. The greenback reached low levels against the euro and the yen due to the continuing speculations regarding the intentions of the FRS to weaken the national currency and increase the government debt. On the same day the UK PMI index showed an unexpected increase compared to the forecasted drop. Therefore, the GBP/USD rate also grew and set its trading session maximums at the $1.5913 level.
The Bank of Japan interest rate decision was very unexpected by the investors on Tuesday. The principal rate was actually decreased to the level of 0.0%. The Bank of Japan also surprised the markets by easing the monetary policy further. The Japanese yen reacted with a considerable drop against the major currencies. As a result, the USD/JPY pair grew to the Y83,98 mark.
Market participants were also surprised by the decision of the Reserve Bank of Australia to leave the principal rates unchanged at the level of 4.50%. Experts forecasted the interest rate increase for 25 basic points. But the Australian dollar was pressured even harder, when the accompanying statement read that “the financial markets were still uncertain”. The central bank also mentioned that the principal rate could be raised in the future at some point. As a result, the national currency weakened against all its competitors.
On Tuesday the gold rate reached its new historical maximums at $1328.25 per ounce against the weakening of the greenback and euro growth.
On Wednesday the US dollar was still trading at the 8-months minimums against the euro. The EUR/USD pair reached the $1,3880 mark. The pressure was also coming from the unemployment rate, which would be released on Friday, and was forecasted to advance to 9.7 % from 9.6 %. The initial jobless claims were expected to show growth as well on Thursday.
As the greenback showed a continuous weakening, the oil rate grew and reached the level of $82.86 per barrel.
Meanwhile the gold continued to grow and renewed its historical maximum at $1349.90 mark per ounce. The silver also showed growth to $23.07 per ounce, as investors expressed great interest in precious metals.
On Thursday the EUR/USD pair has breached the psychologically significant 1.40 mark. According to the expectations, the ECB left the principal rate unchanged at the 1.0% level. The ECB President Jean-Claude Trichet mentioned, that rates remained "appropriate". On the same day the GBP/USD rate grew to the $1.5960 mark, due to the released positive UK statistics. In particular, the Industrial production increased for August for 0.3%, compared to the forecasted 0.2%, and the annualized indicator showed growth for 4.2% against the predicted 4.1%. The Bank of England left the principal rate unchanged at the level of 0.5% and the Bank of England asset purchase target was set at the previous level of 200B. As a result of the Bank of England decision, the sterling tested the $1.6000 maximum.
The Australian dollar rate also demonstrated a rally on Thursday, being supported by the increased prices for metals. The AUD/USD reached an all-times high. The released Australian fundamentals showed, that the national economy was on a correct rehabilitation path, which supports speculations that the principal rate would be increased. The employment change for September showed increase for 49.5K, compared to the forecasted growth for only 20.0K. At the same time the unemployment rate stayed at the previous level of 5.1%.
At the same time the oil rate grew and reached the $83.87 mark per barrel. And gold renewed its historical maximum again at the $1,366 level, and silver showed considerable growth as well.
On Friday the greenback dropped below the Y82 against the Japanese yen after the release of the American labor market statistics. Change in non-farm payrolls actually decreased for 95 thousand, but the unemployment rate stayed at the 9.6% level, when experts forecasted growth to 9.7%. As a result, the greenback did not manage to rehabilitate and regain any of the previously lost positions against the competitors.

Happy trading!


2. Weekly technical analysis for 11-15.10 2010


EURUSD
The closest resistance is at 1.41130. If the pair stays below this level the pair will drop to support level at 1.37441. Strong resistance maybe met at the trendline 1.44835.
Resistance: 1.41130, 1.44835, 1.47697
Support: 1.37441, 1.33427, 1.28004


GBPUSD
The is under pressure of Moving Average ( 100) and trendline at 1.59962. Once this level is broken the pair will rise to 1.64274. If the pair stays below 1.59962 the pair will decline to 1.57460.
Resistance: 1.59962, 1.64274, 1.68504
Support: 1.52523, 1.48532, 1.43343


USDCHF
The pair has reached support 0.96526. Here is a strong level and bottom of 16.03.08.
Resistance: 0.99031, 1.01369, 1.04060
Support: 0.96525, 0.93770, 0.91074


USDJPY
The pair has broken support at 83.330 and aiming to 80.244.
Resistance: 83.330, 86.836, 90.909
Support: 80.244, 76.535, 73.126



AUDUSD
The pair has reached top of 01.07.08. The next resistance is at 1.00031. If the pair breaks support 0.97889 the pair will drop to 0.96010.
Resistance: 1.00031, 1.02299, 1.04441
Support: 0.97889, 0.94048, 0.89581



3. New low spread on EURUSD.

At last, we are able to offer you the new low spread on the most popular pair - EURUSD.
2 pips spread is the thing of the past. Our new spread on this pair is now only 1.8 pips. And this is not the limit: we are working to bring you even lower spreads on this and other pairs. Enjoy! Need to open a new account to try our low spreads?
Quick, no hassle account opening form is here: https://forex-metal.com/accounts/new


4. 30% trading bonus is on again!

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/discount10
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 [email protected] and confirm the bonus amount you would like to receive, at the time your account is being funded.

5. 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 [email protected] or talk to our operators via live chat and they will put you to the right person.


6. Economic Calendar, Pip value calculator and other useful links.

• 4 major currency pairs are now also available for trading with market execution. All trading on our platform is done as instant execution, however for USDJPY, EURUSD, USDCHF and GBPUSD you now have a choice to trade them with instant or market execution. To trade these pairs with market execution right click on your symbols, choose Symbols in the menu, then in the section Forex choose these 4 pairs with letter M at the end, i.e. EURUSD_M and press Show.


• The general trading conditions and to open an account click here:
https://forex-metal.com/accounts/new

• Make an instant deposit into your account using credit card, Liberty Reserve or other methods. Visit the Deposit Funds page for full list of available payment methods:
https://forex-metal.com/fund_transactions/new

• Economic Calendar: https://forex-metal.com/ecpresentations

• Pip value calculator: https://forex-metal.com/home/pip_calculator

• No-swap or Islamic accounts.
Did you know that you can have a no-swap account or Islamic account at Forex-Metal?
We offer two types of no-swap accounts: with gifts and donations and without gifts and donations.
No-swap account with gifts and donations: with very small credits (gifts) and debits (donations) on your trading account which are approximately equal to the swap amounts. No account costs.
No-swap account without gifts and donations: no additional credits or debits, only spreads (the same spreads, no difference from the regular account). No account costs.

[Forex-Metal]

At last, we are able to offer you the new low spread on the most popular pair - EURUSD.
2 pips spread is the thing of the past. Our new spread on this pair is now only 1.8 pips.
And this is not the limit: we are working to bring you even lower spreads on this and other pairs.
Enjoy!
Need to open a new account to try our low spreads?
Quick, no hassle account opening form is here: https://forex-metal.com/accounts/new

[Forex-Metal]

Two new payment systems are being added this week to our list of available deposit options:
Global Digital Pay (www.globaldigitalpay.com) and
cashU (www.cashu.com)
The later allows customers to make payments with credit cards as well as regular accounts and is very popular in Asia and the Middle East.
We hope you will enjoy our new payment options.
For the list of all currently available deposit options click here: https://forex-metal.com/fund_transactions/new

[Forex-Metal]

In this issue:

1. Weekly market review.
2. Weekly technical analysis
3. New low spread on EURUSD.
4. Why we are not affected by the latest CFTC regulations.
5. Representatives Wanted!
6. New deposit options are being added this week.
Economic Calendar, Pip value calculator and other useful links.


1. Weekly review for 11 – 15. 10, 2010

The greenback was under serious pressure during the whole week and the EUR/USD pair has reached new maximums. On Monday the euro continued to trade around its 8-months maximums against the greenback. According to the experts’ opinion, the euro was overbought, and that the rate correction could be expected. The euro was also pressured after the release of the news from China, where the deposit reserve requirements for the 6 large banks were increased for 0.5%. Therefore, the EUR/USD rate showed some decrease to the level of $1.3940.
The general weakening of the US dollar continued to render support to the growing oil prices. The rate reached $83.40 mark per barrel on Monday. The yellow metal was trading around its historical maximums of $1353.60 mark per ounce as well.
On Tuesday the EUR/USD pair slipped as low as the $1.3775 mark, as investors showed less demand for the high-risk assets. Later on the euro rate returned to the $1.3820 level. According to some experts’ opinion, the euro was overbought, and Tuesday saw just the technical correction rather than had any specific tendency. On that day all market participants were pressured by expectations for the results of the FRS meeting. The Federal Open Market Committee was scheduled to release its policy meeting minutes at 18:00 GMT. According to the speculations, the FRS would not give any specific ruling for the further quantitative easing measures. The FOMC members did not have the singe opinion on the necessary urgent measures aimed to support the economy rehabilitation. The GBP/USD pair also decreased to $1.5793 minimums during the European trading session. The published on Tuesday UK fundamentals showed better than expected results. The UK retail prices showed increased levels for September, but were below the previous month figures. The core consumer price index turned out to be 2.7%, which was still below the previous level of 2.8%.
According to the released minutes of the FOMC meeting, most of the FOMC members were suggesting the additional economy stimulating measures. But there was no unified opinion expressed.
On Wednesday the expectations for the release of the strong European statistics pushed the EUR/USD rate to the maximums of $1.3982. The Euro-zone industrial production indeed showed growth for 1.0% against the expected 0.8%. Meanwhile the GBP/USD pair showed minimums at the $1.5770 mark. Maximums were reached at the level of $1.5886. The released on the same day UK jobless claims for September showed unexpected growth for 5.3K against the increase of 4.5K. Nevertheless, the risk appetite growth rendered considerable support to the sterling.
The Australian fundamentals, which were released on Tuesday, supported the Australian dollar during the Wednesday trading. The Westpac Consumer confidence index for October increased to 117.0 compared to the 113.2 last month. The AUD/USD maximum was set at the $0.9880 mark.
Asian stock markets’ growth resulted in a weakening of the yen, which stepped back from its previously reached maximums. Speculations, that Asian economy was rehabilitating, reinforced. The Japanese statistics, which was published on Tuesday, was positive. The machine orders for August grew for 10.1%, when the forecasted level was at -3.9%. Therefore, the demand for the save haven currencies, such as Japanese yen and American dollar, dropped.
On Wednesday gold renewed its historical maximum at the level of $1373.65 per ounce.
The released on Wednesday New-Zealand retail sales report for August showed 0.0% against the forecasted growth for 0.3%. As a result, the New-Zealand dollar rate fell.
On Thursday the EUR/USD pair reached the $1,4121 peak. The greenback continued to drop against its major currency counterparts. According to the experts’ opinion, market participants face uncertainty regarding further actions of the FRS. The experts forecast that the greenback would carry the negative dynamics to the end of the week as well.
The GBP/USD pair managed to grow to the level of $1,6066. On the same day the USD/JPY rate dropped to the level of Y80,85 mark, its 15-year minimums.
The Australian dollar continued to grow against the greenback and has reached its maximums of the year 1983. As the prices for raw materials increased, the Canadian dollar grew against the US dollar higher.
The US dollar was pressured even more by the released US mixed economic outlook on Thursday. The initial jobless claims grew for 462K from the previous figure of 449K. At the same time the Producer price index for September increased even higher for 4.0% when the forecasted growth was for 3.7%. The trade balance for September dropped to -$46.3B, which was below the expectations of -$44.0B.
On Friday the EUR/USD reached its maximums at the $1.4159 mark after the speech of Ben Bernanke, who mentioned that the FRS would continue its politic of economic stimulation. The GBP/USD pair also grew to its maximums of $1.6105. But both pairs dropped by the end of the day, and the EUR/USD closed the week at the level of below the $1.4100 mark. And the sterling also decreased to the $1.6000.

Happy trading!


2. Weekly technical analysis for 18-22.10 2010

EURUSD
The pair has risen to Fibonacci 23.6% and rolling back. Higher is stronger level a trend line at 1.44835. Support maybe met at 1.37441.
Resistance: 1.41130, 1.44835, 1.47697
Support: 1. 37441, 1.33427, 1.28004



GBPUSD
The pair is under pressure of Moving Average ( 100) and trendline at 1.59962. Once this level is broken the pair will rise to 1.64274. If the pair stays below 1.59962 the pair will decline to 1.57460.
Resistance: 1.59962, 1.64274, 1.68504
Support: 1.52523, 1.48532, 1.43343



USDCHF
The pair has reached support 0.96526. Here is a strong level and bottom of 16.03.08. If the pair stays below 0.96526 the pair will drop to 0.93770. If the pair stays above 0.96526 the pair will rise to 0.99031. Strong level at 1.01369 trend line.
Resistance: 0.99031, 1.01369, 1.04060
Support: 0.96525, 0.93770, 0.91074


USDJPY
The pair is aiming to 80.244.
Resistance: 83.330, 86.836, 90.909
Support: 80.244, 76.535, 73.126



AUDUSD
The pair has reached resistance at 1.00031. If the pair breaks support 0.97889 the pair will drop to 0.96010.
Resistance: 1.00031, 1.02299, 1.04441
Support: 0.97889, 0.94048, 0.89581


3. New low spread on EURUSD.

At last, we are able to offer you the new low spread on the most popular pair - EURUSD.
2 pips spread is the thing of the past. Our new spread on this pair is now only 1.8 pips. And this is not the limit: we are working to bring you even lower spreads on this and other pairs. Enjoy! Need to open a new account to try our low spreads?
Quick, no hassle account opening form is here: https://forex-metal.com/accounts/new


4. Why we are not affected by the latest CFTC regulations.

Many traders are asking us if we are affected by the most recent NFA regulations that considerably reduced trading leverage on major and exotic pairs. The answer is No. We are not affected and as usual are able to provide the most flexible trading conditions and the leverage of up to 1:500. Only the companies and traders operating in the US and regulated by the NFA and CFTC are affected by the above mentioned changes. Forex-Metal is not based in the US and is regulated in other jurisdictions, therefore we are able to provide better trading conditions then the ones in the US.

Need to open a new trading account? Submit an online form here:
https://forex-metal.com/accounts/new

5. 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 [email protected] or talk to our operators via live chat and they will put you to the right person.


6. New deposit options are being added this week.
Two new payment systems are being added this week to our list of available deposit options:
Global Digital Pay (www.globaldigitalpay.com) and
cashU (www.cashu.com)
The later allows customers to make payments with credit cards as well as regular accounts and is very popular in Asia and the Middle East.
We hope you will enjoy our new payment options. For the list of all currently available deposit options click here: https://forex-metal.com/fund_transactions/new

Economic Calendar, Pip value calculator and other useful links.

• 4 major currency pairs are now also available for trading with market execution. All trading on our platform is done as instant execution, however for USDJPY, EURUSD, USDCHF and GBPUSD you now have a choice to trade them with instant or market execution. To trade these pairs with market execution right click on your symbols, choose Symbols in the menu, then in the section Forex choose these 4 pairs with letter M at the end, i.e. EURUSD_M and press Show.


• The general trading conditions and to open an account click here:
https://forex-metal.com/accounts/new

• Make an instant deposit into your account using credit card, Liberty Reserve or other methods. Visit the Deposit Funds page for full list of available payment methods:
https://forex-metal.com/fund_transactions/new

• Economic Calendar: https://forex-metal.com/ecpresentations

• Pip value calculator: https://forex-metal.com/home/pip_calculator

• No-swap or Islamic accounts.
Did you know that you can have a no-swap account or Islamic account at Forex-Metal?
We offer two types of no-swap accounts: with gifts and donations and without gifts and donations.
No-swap account with gifts and donations: with very small credits (gifts) and debits (donations) on your trading account which are approximately equal to the swap amounts. No account costs.
No-swap account without gifts and donations: no additional credits or debits, only spreads (the same spreads, no difference from the regular account). No account costs.


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In this issue:

1. Weekly market review.
2. Weekly technical analysis
3. Why we are not affected by the latest CFTC regulations.
4. Representatives Wanted!
5. Economic Calendar, Pip value calculator and other useful links.


1. Weekly review for 18 – 22. 10, 2010

During the beginning of the previous trading week the greenback gained some strength against the background of the euro weakening. Expectations for the release of the Euro-zone fundamentals, which were planned to be published on Tuesday, pressured the euro. According to the forecasts, the Euro-zone ZEW survey (economic sentiment) was expected to decrease in October. As a result, the EUR/USD rate decreased to its minimums of $1,3830 mark. In the meantime, the forecasts of US housing market releases, which showed decrease, reinforced the speculations that the FRS would continue to introduce the policy of the quantitative easing. Market participants were waiting for the meeting of the Ministers of Finance and the G20 heads of the central banks’, which was planned for October 22-23 in South Korea.
On Monday the yen continued to trade around its 15-year maximum against the US dollar, as the speculations that the Japanese government would refrain from intervening in currency markets, reinforced. The yen strengthened against its major competitors as well.
As the greenback demonstrated some stabilization, the oil price decreased to the $80.78 level per barrel. Gold and silver also showed some negative movement, as the US dollar strengthened against the major currencies temporarily. The “yellow metal” dropped to $1352.80 per ounce, and the silver rate decreased to $23.77 per ounce.
The expectations for the negative Euro-zone fundamentals continued to pressure the euro on Tuesday as well. The EUR/USD pair demonstrated its decrease to the level of $1,3900. The released German ZEW survey (Economic sentiment) for October dropped to -7.2, compared to the forecasted decrease to -7.0. But at the same time the current situation of the same indicator grew to 72.6, against the predicted growth to 64.0. As a result, the euro showed temporary stabilization, and the EUR/USD grew and reached maximums of $1.3960.
The decrease of the Asian stock market supported the demand for the save-haven currencies. As a result, the greenback strengthened against its major competitors. The US Minister of Finance, Timothy Geithner, stated, that the US dollar would continue to be the world reserve currency, and rendered additional support to the greenback. The unexpected increase of the interest rates in China pressured the stock markets, commodity markets and high-yielding assets.
According to the released information on the same day, the Bank of Canada refrained from raising the principal interest rate this month. Therefore, the Canadian dollar was under additional pressure.
On Wednesday the EUR/USD rate grew and reached the $1,3856 level. The GBP/USD pair showed maximums above the $1,5700 level, but the rate stopped growing after the release of the last Bank of England minutes.
The results of the Beige book report turned out to be a little stronger than the previous one, since the national economic activity demonstrated moderate growth. The greenback did not show any reaction to the Beige book publication, and the EUR/USD pair consolidated around the $1.3970 level.
Euro-zone fundamentals, which were released on Thursday, rendered support for the euro. The German PMI manufacturing and services indicators increased above expectations for October. The statement of the US Minister of Finance, Timothy Geithner, rendered support to the greenback, which showed strengthening against the major currencies. He mentioned, that the US government was not carrying out a deliberate policy of US dollar devaluation. According to the experts’ opinion, this dollar growth was temporary.
On the same day the pound dropped and the GBP/USD pair decreased to the mark of $1,5750. The UK retail sales data in September was disappointing, which unexpectedly dropped below the forecasts. As a result, the sterling was under pressure.
The Australian dollar incurred losses on Thursday, as the speculations over the possibility that Chinese government would continue to undertake measures for cooling the economy, reinforced.
By the end of the week, the EUR/USD set its weekly maximum at $1.4049, but closed the week around the $1.3950 mark. The GBP/USD pair dropped to $1.5700 level at the end of the week.


Happy trading!


2. Weekly technical analysis for 25-29.10 2010
EURUSD
The pair may try to break Fibonacci 23.6% retracement 1.42098. Higher is a trendline resistance at 1.44835.
Resistance: 1.41130, 1.44835, 1.47697
Support: 1. 37441, 1.33427, 1.28004



GBPUSD
The pair is under pressure of Moving Average ( 100) and trendline at 1.59962. Once this level is broken the pair will rise to 1.64274. If the pair stays below 1.59962 the pair will decline to 1.57460.
Resistance: 1.59962, 1.64274, 1.68504
Support: 1.52523, 1.48532, 1.43343



USDCHF
The pair has reached support 0.96526. Here is a strong level and bottom of 16.03.08. If the pair stays below 0.96526 the pair will drop to 0.93770. If the pair stays above 0.96526 the pair will rise to 0.99031. Strong resistance is at 1.01369 a trend line.
Resistance: 0.99031, 1.01369, 1.04060
Support: 0.96525, 0.93770, 0.91074


USDJPY
The pair is aiming to 80.244.
Resistance: 83.330, 86.836, 90.909
Support: 80.244, 76.535, 73.126



AUDUSD
The pair is aiming to test 1.00031 again. If the pair breaks this level the pair will rise to 1.02299.
Resistance: 1.00031, 1.02299, 1.04441
Support: 0.97889, 0.94048, 0.89581


3. Why we are not affected by the latest CFTC regulations.

Many traders are asking us if we are affected by the most recent NFA regulations that considerably reduced trading leverage on major and exotic pairs. The answer is No. We are not affected and as usual are able to provide the most flexible trading conditions and the leverage of up to 1:500. Only the companies and traders operating in the US and regulated by the NFA and CFTC are affected by the above mentioned changes. Forex-Metal is not based in the US and is regulated in other jurisdictions, therefore we are able to provide better trading conditions then the ones in the US.

Need to open a new trading account? Submit an online form here:
https://forex-metal.com/accounts/new



4. 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 [email protected] or talk to our operators via live chat and they will put you to the right person.

5. Economic Calendar, Pip value calculator and other useful links.

• 4 major currency pairs are now also available for trading with market execution. All trading on our platform is done as instant execution, however for USDJPY, EURUSD, USDCHF and GBPUSD you now have a choice to trade them with instant or market execution. To trade these pairs with market execution right click on your symbols, choose Symbols in the menu, then in the section Forex choose these 4 pairs with letter M at the end, i.e. EURUSD_M and press Show.


• The general trading conditions and to open an account click here:
https://forex-metal.com/accounts/new

• Make an instant deposit into your account using credit card, Liberty Reserve or other methods. Visit the Deposit Funds page for full list of available payment methods:
https://forex-metal.com/fund_transactions/new

• Economic Calendar: https://forex-metal.com/ecpresentations

• Pip value calculator: https://forex-metal.com/home/pip_calculator

• No-swap or Islamic accounts.
Did you know that you can have a no-swap account or Islamic account at Forex-Metal?
We offer two types of no-swap accounts: with gifts and donations and without gifts and donations.
No-swap account with gifts and donations: with very small credits (gifts) and debits (donations) on your trading account which are approximately equal to the swap amounts. No account costs.
No-swap account without gifts and donations: no additional credits or debits, only spreads (the same spreads, no difference from the regular account). No account costs.