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**Forex-Metal** · 02-21-2011, 19:43

IN THIS ISSUE:
1. Weekly market review from Forex-Metal.
2. Weekly technical analysis.
3. 30% trading bonus is on again!
4. Representatives Wanted!
________________________________________
WEEKLY REVIEW FOR 14 - 18. 02, 2011
Previous trading week started with a US dollar competitors’ weakness.
On Monday euro demonstrated sharp decrease against the competitors during the European trading sessions. Concerns over the Euro-zone budget crises reinforced. The 2-day meeting of the EC Ministers of Finance, which started on that day, might not result in a mutual agreement regarding target levels of reducing the country’s debt loads. In addition, according to the released information, chances of restructuring of the German state bank West LB AG were reducing, which rendered pressure on the euro as well. The Euro-zone Industrial production, published on Monday, turned out to be negative at the level of -0.1%, against the forecasts of 0.0% and previous month positive figure of 1.4%. As a result, the EUR/USD pair demonstrated minimums at $1,3426. The sterling demonstrated a decrease following the euro drop. The GBP/USD pair decreased to $1.5985 minimums.
By the end of the day the euro managed to rehabilitate and won back the previously lost positions. The EUR/USD grew to the levels of $1,3480. The pound managed to grow against the greenback during the American trading session as well. The GBP/USD reached the $1,6030 mark. Speculations regarding the possibility, that the Bank of England would increase the principal rate, reinforced.
On Tuesday the EUR/USD pair demonstrated growth up to the $1.3530 maximums during the Asian trading session. But the released Euro-zone fundamentals were diverse. German GDP data for the fourth quarter turned out to be below expectations. And the Euro-zone overall GDP for the same period was below forecasts as well. The German ZEW survey (Economic sentiment) for February was at the 15.7 level against the expected 20.0, which pressured the euro. But, at the same time, the German ZEW survey (Current situation) for February grew from the previous month and happened to be above forecasts: 85.2 against the 83.0, which rendered support to the euro. European session showed maximums of $1.3552 by EUR/USD pair.
Sterling demonstrated steady growth against its competitors due to the released strong British fundamentals on that day. UK Consumer price index turned out to be at the expected level of 4.0%. DCLG House prices were above forecasts too. And the Retail price indices were above expected level as well. Therefore, the GBP/USD pair reached the $1,6170 maximums. As a result, the speculations regarding possible increase of the principal interest rate reinforced.
According to the expectations, on Tuesday the Bank of Japan left the principal rate unchanged at the previous level of 0.10%. USD/JPY pair managed to grow to the Y83.80 mark.
Diverse US fundamentals were released during the American trading session. Eventually, the US dollar received support. Empire manufacturing index for February grew and hit 15.43 amid forecasts at 15.00 level. Net long-term TIC flows were above expectations. But advance retail sales dropped for 0.3% when the expectations were 0.5%.
On Wednesday the GBP/USD pair demonstrated maximums during the Asian trading session at the level of $1,6186. But later on the release of the negative UK fundamentals changed the trading dynamics. Nationwide Consumer confidence for January dropped to 47 against expected level of 50. Jobless claims increased for 2.4K when the indicator was forecasted to drop for 3.0K. Pound reacted with a sharp decrease. According to the publication of the Bank of England Inflation report, the inflation would likely remain high over this year. Following this report the GBP/USD pair dropped to minimums of $1,5985. The drop of the pound influenced the euro dynamics. The EUR/USD pair decreased to the $1.3459 mark.
The dollar price action was mixed on the same day. But the US fundamentals, which were released during the American session, changed the trading dynamics of the major currencies. Strong economic docket increased the demand for the risky assets, and the greenback turned out to be under pressure. The EUR/USD pair managed to rehabilitate and hit the $1,3587 maximums after the release of the Industrial production index, which turned out to be -0.1% against the forecasted 0.5%. The Federal release of the FOMC meeting, which was also in the market focus on Wednesday, did not have any relevant influence on the market.
Greenback was under pressure on Thursday. US dollar was not supported as a save-haven currency.
Political problems, which were spreading over the Middle East region, supported the growing demand for the save-haven assets. Iran confirmed that two warships were forwarded to the Mediterranean through the Suez Canal. As a result, the Japanese yen rate increased against its competitors. The USD/JPY pair traded around the maximum range of Y83.50 - Y83.70. Swiss frank received considerable support as a save-haven currency and reached two-week maximum.
Additional pressure on the US dollar was received from the released US fundamentals. The Initial jobless claims turned out to be elevated above the forecast and over the previous level as well: 410K against the expected 400K.
On Friday after the announcement of the ECB Board member, Lorenzo Bini Smagi, that the ECB would raise the principal rate due to the increasing pressure from the global inflation, the greenback competitors started to grow. The EUR/USD pair reached maximums of $1,3700, and the GBP/USD hit the $1,6250 level.

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WEEKLY TECHNICAL ANALYSIS FOR 21- 25. 02, 2011

EURUSD
The pair is trading in the triangle. Upper border (resistance) is 1.41130, lower border (support) is 1.30651. The pair needs to break one of these levels to be able continue rising or falling.
Resistance: 1.37441, 1.41130, 1.44835
Support: 1.33427, 1.2800, 1.25667

GBPUSD
The pair has broken channel line. A return for a test to channel line maybe expected to 1.61380. If the pair stays above this level the pair will rise to Fibonacci retracement 38.2% at 1.64274 and Moving Average 9200) at 1.65789.
Resistance: 1.64274, 1.68504, 1.72652
Support: 1.59962, 1.52523, 1.48532

USDCHF
The pair has rolled back to 0.94501. Lower is stronger support at 0.93264.
Resistance: 0.96525, 0.99031, 1.01369
Support: 0.93264, 0.91074, 0.88022

USDJPY
The pair is closed in the triangle. Resistance 83.330 supports 81.010. The pair needs to break one of these levels to be able to continue rising or declining.
Resistance: 83.330, 86.836, 90.909
Support: 80.244, 76.535, 73.126

AUDUSD
The pair has risen to 1.01873 and may roll back to 1.00031.
Resistance: 1.01873, 1.03847, 1.05810
Support: 1.00031, 0.97889, 0.94048

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**Forex-Metal** · 02-21-2011, 19:52

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**Forex-Metal** · 02-28-2011, 20:57

IN THIS ISSUE:
1. Weekly market review from Forex-Metal.
2. Weekly technical analysis.
3. Get a 30% trading bonus when you open a new account.
4. Free Android mobile trading app is now available.
5. Representatives Wanted!
________________________________________
WEEKLY REVIEW FOR 21 - 25. 02, 2011

Previous trading week started rather slow, since on Monday the US financial markets were closed due to the President’s Day celebration. EUR/USD pair started trading with maximums of $1.3715. The pair traded around the levels of $1.3710 after the release of the strong Euro-zone fundamentals. In particular, the German IFO – Business climate index turned out to be at the level of 111.2 amid expectations of 110.3. Save-heaven assets received substantial support on Monday as a result of the Middle East and African instability. In particular, the problems in Libya are raising world concerns. According to the released information, the civil war can start in the country. Demonstrations were taking place in Tunisia, Bahrain, Djibouti, Morocco and Iran. Instability at the Middle East region also reinforced concerns regarding possible interruptions of the oil supply. Oil rate stabilized around the $91.47 level per barrel. Maximums were reached at the $92.00 mark. Gold was trading above the maximum level of $1400 price per ounce.
On Tuesday the devastating earthquake, that happened in New-Zealand, pressured the national currency rate and decreased the market participants’ willingness to take risks. On the same day the EUR/USD pair traded around the $1.3600 level. Minimums were reached at the $1.3524 mark. The euro managed to rehabilitate after the statement of the ECB representative Yves Mersh, who mentioned that ECB would soon move on to tightening of the monetary policies. The US dollar rate was supported by the political problems in Middle East, as a save-heaven currency. During the last couple of weeks the ruling regimes of Egypt and Tunisia were overthrown. Swiss Frank continued to strengthen as well, being supported as a save-heaven currency.
After the announcement that the credit agency “Moody's Investors Service” reduced the credit rating of Japan from stable to negative, the Japanese yen rate dropped. Yen was overall supported on Tuesday as a save-heaven currency. The USD/JPY pair traded in the range of Y82.80 - Y83.23.
Continuing riots in Libya reinforced concerns over the oil supply, and the oil prices grew and reached their 2-year maximums. Oil traded at the level of $93.97 rate per barrel.
On Wednesday the EUR/USD pair strengthened at the $1.3700 maximums during the Asian session, the European session brought euro to the level of $1.3740. The sterling also demonstrated growth. The GBP/USD pair reached maximums at the level of $1.6273. The pound was supported by the release of the minutes of the Bank of England.
The New-Zealand dollar started to rehabilitate on Wednesday. Rating agency “Moody’s Investor Service” stated that the earthquake that took place in New-Zealand would not affect the credit rating of the country. Political instability in the Middle East region kept oil prices at their maximums. Wednesday prices range was at the $95.97 level per barrel.
On the same day during the American session the EUR/USD hit even higher and reached the $1,3786 maximum. And Swiss Frank reached its historical maximum against the US dollar, as a save-heaven currency.
The EUR/USD pair reached highs of $1.3780 level on Thursday during the Asian trading session, as speculations over the possibility of increasing the principal rate on the next ECB meeting, grew. Market participants were influenced by the expectations of the strong German fundamentals. After the rating agency “Moody’s” reduced the credit rating of Cyprus, the EUR/USD pair dropped to the support $1,3700 level. Euro reached maximums during the European session at the level of $1.3808.
In spite of the fact that greenback was a save-heaven currency, on Thursday the US dollar demonstrated weakness against all counterparts, except for the pound. Sterling also demonstrated growth during the Asian session, following the euro. The GBP/USD pair reached the $1.6250 maximums. After the release of the disappointing UK data, the pound dropped sharply. The CBI reported sales decreased to the level of 6 compared to the forecasted 28. As a result, the GBP/USD dropped to $1,6150.
Traders were seeking safety in the global economy uncertainty. Tension in the Middle East region escalated, and according to the reports, an army attacked anti government protesters in Libya, where at least 300 people have been killed in the last 10 days. Japanese yen continued to play a role of the save-heaven currency. The USD/JPY pair stabilized around the Y81.75 range.
Instability in Libya continued to reinforce concerns over the oil supply. Oil prices consolidated above the $100 level per barrel. Maximums were reached at the $119 mark per barrel.
On Friday unexpectedly negative release of the US fundamentals brought the EUR/USD pair to the minimums of $1,3740. The US GDP level turned out to be below the expectations of the experts. Therefore, market participants decided to move out of the risky assets.

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WEEKLY TECHNICAL ANALYSIS FOR 28.02 - 04.03, 2011

EURUSD
The pair is aiming to upper border of the triangle at 1.41130, the pair will rise if 1.37441 is broken.
Resistance: 1.37441, 1.41130, 1.44835
Support: 1.33427, 1.2800, 1.25667

GBPUSD
The pair is aiming to Fibonacci retracement 38.2% at 1.64274 and Moving Average (200) at 1.65789, it will be possible if the pair stays above 1.59962.
Resistance: 1.64274, 1.68504, 1.72652
Support: 1.59962, 1.52523, 1.48532

USDCHF
The pair has broken support 0.93264 and aiming to 0.91074.
Resistance: 0.93264, 0.96525, 0.99031
Support: 0.91074, 0.88022, 0.85633

USDJPY
The pair is trying to close below triangle’s median. The pair may return to triangle’s median for testing 81.972 and after that the pair may continue declining to 80.244.
Resistance: 83.330, 86.836, 90.909
Support: 80.244, 76.535, 73.126

AUDUSD
The pair is trying to rise to 1.02170.
Resistance: 1.01873, 1.03847, 1.05810
Support: 1.00031, 0.97889, 0.94048

________________________________________
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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.

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.
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**Forex-Metal** · 03-07-2011, 20:16

IN THIS ISSUE:
1. Weekly market review from Forex-Metal.
2. Weekly technical analysis.
3. Get a 30% trading bonus when you open a new account.
4. Free Android mobile trading app is now available.
5. Representatives Wanted!
________________________________________
WEEKLY REVIEW FOR 28.02 - 04. 03, 2011

The previous trading week saw the weakening of the US dollar against its major counterparts. During the beginning of the week the euro was constantly supported by the expectations for the principal rate increase by the ECB. On Tuesday the EUR/USD rate reached the level of $1.3854.
The publication of the Euro-zone fundamentals was strong and above expectations. The German unemployment dropped much below forecasts and the Euro-zone unemployment was 9.9% against the expected 10.0%. The released PMI indices were above forecasts. Sterling followed the positive trend of the euro and the GBP/USD rate almost reached the $1.6323 maximum.
The Reserve Bank of Australia left the principal rate unchanged today at the level of 4.75%.
According to the forecasts, the Bank of Canada left the principal rate at the previous level of 1.00%. In conformity with the experts’ opinion, Canadian exporters experienced difficulties due to the elevated rate of the Canadian dollar, which resulted in the decision of the Bank of Canada to maintain the rate at the same level.
At the same time the New-Zealand dollar dropped dramatically against its major counterparts after the speech of the Prime Minister, who mentioned the possibility of the interest rate reduction, as an outcome of the devastating earthquake, that struck the country.
Due to the instability in the Middle East region the oil prices stayed at their maximums. Brent oil showed maximums of $115.42 per barrel after the speculations that the Saudi Arabia would not produce oil until the price reaches $120 per barrel.
Strong Euro-zone fundamentals, released on Wednesday, rendered additional positive influence, and the EUR/USD pair hit the $1.3842 highs. The released Euro-zone Producer price index turned out to be above expectations and much higher than previous volume. At the same time the Middle East instability continued to reinforce and escalated oil price influenced the demand for the US dollar. As a result, the greenback was pressured and market participants were getting rid of the greenback. The released ADP employment change for February happened to be above forecast: 217K against the 185K, but could not render support to the dollar.
The released UK Construction purchasing manager index for February was 56.5, which was much higher than the predicted level of 52.9. Consequently the pound was supported as well and the GBP/USD pair reached the maximum of $1.6345. By the end of the day the EUR/USD managed to reach daily maximums at the level of $1.3890 already.
According to the experts’ forecasts, the ECB left the interest rate unchanged at the previous level of 1.00% on Thursday. But during the accompanying interest rate decision statement of the head of the ECB, Jean-Claude Trichet, he mentioned that “the rate increase at the next ECB meeting would be possible”. As a result, the demand for the euro grew and the EUR/USD rate increased and reached the maximums of $1.3974.
On Thursday the US dollar managed to rehabilitate against almost all its counterparts and won back the previously lost positions. The released Initial jobless claims dropped for 368K against the forecasted increase for 395K. The ISM non-manufacturing composite index turned out to be at the level of 59.7 against the expected level of 59.3.
The released on Thursday UK PMI Services index turned out to be below the forecast and below the last month’s level. As a result, the pound decreased considerably against the greenback. The GBP/USD dropped to $1.6250 range.
The released on Friday the US unemployment rate and Change in non-farm payrolls happened to be above the forecasts, but could not render substantial support to the greenback.
Happy trading!
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WEEKLY TECHNICAL ANALYSIS FOR 7.03 - 11.03, 2011

EURUSD
The pair is aiming to upper border of the triangle at 1.41130.
Resistance: 1.41130, 1.44835, 1.47697
Support: 1.37441, 1.33427, 1.2800

GBPUSD
The pair is aiming to Fibonacci retracement 38.2% at 1.64274 and Moving Average (200) at 1.65789.
Resistance: 1.64274, 1.68504, 1.72652
Support: 1.59962, 1.52523, 1.48532

USDCHF
The pair has broken support 0.93264 and aiming to 0.91074.
Resistance: 0.93264, 0.96525, 0.99031
Support: 0.91074, 0.88022, 0.85633

USDJPY
The pair is closed in the triangle between 83.330 and 81.548.
Resistance: 83.330, 86.836, 90.909
Support: 80.244, 76.535, 73.126

AUDUSD
If the pair breaks 1.01873 the pair will rise to 1.03847. If the pair breaks 1.00031 the pair will decline to 0.97889.
Resistance: 1.01873, 1.03847, 1.05810
Support: 1.00031, 0.97889, 0.94048

________________________________________
FREE ANDROID MOBILE TRADING APP IS NOW AVAILABLE

Trading on the go has never been so easy! We already offer mobile, iPhone and iPad trading apps and now we added a new Android app to this range for your trading convenience. A free Forex Metal Droid trader app is now available to download from Android Marketplace:
https://market.android.com/details?i...=search_result
Simple and easy to use trading platform allows you login with your usual login and password.
More information about mobile trading is available at
https://forex-metal.com/home/mobile_dealing

We hope you will enjoy using our Android app as well as other available mobile applications.

________________________________________
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/discount03
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.

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.

**Forex-Metal** · 03-21-2011, 20:50

IN THIS ISSUE:
1. Weekly market review from Forex-Metal.
2. Weekly technical analysis.
3. New site templates for our IBs.
4. Mobile trading is here! Download free iPhone and Android mobile trading apps.
5. Get a 30% trading bonus when you open a new account.

________________________________________
WEEKLY REVIEW FOR 14 - 18.03, 2011
The whole previous week trading was mainly influenced by the outcome of the devastating earthquake in Japan, major problems with the Fukusima NPP and the growing tension in the Northern African region and the Middle East. As a result, during most of the week the demand for the save-heaven assets was increasing.
In the beginning of the week the Euro-zone leaders carried out the additional $600B in quantitative easing program. This announcement was unexpected by the market participants. The European credit rate for Greece was reduced, but the credit rate for Ireland was increased. As a result, the euro started the previous trading week with growth. The EUR/USD pair traded at the maximum level of $1,3960.
On Monday the Bank of Japan left the principal rate unchanged at the previous level of 0.10%. As a save-heaven asset, the yen rate grew and the USD/JPY pair showed minimums at Y80,50. The Bank of Japan injected Y15 trillion into Japanese capital markets and expanded its asset purchase program to Y40 trillion. This decision managed to limit the yen growth. As a result, the USD/JPY pair showed maximums at Y82.47.
Speculations regarding the possibility that Japanese demand for oil after the devastating earthquake on Friday would decrease, pressured the oil rate. The oil prices dropped below the $100 mark per barrel. At the same time the gold rate increased and reached the $1,426.70 level per ounce.
On Tuesday the euro received additional pressure after the publication of the Euro-zone fundamentals. The German ZEW survey (Economic sentiment) for March decreased and turned out to be below forecasts: 14.1 against the expected 16.0. The current situation index was below the forecast as well: 85.4 against 86.0. As a result, the EUR/USD pair dropped to the minimums of $1.3852. At the same time the US dollar was supported as a result of the forecasts of the FRS statement, which was expected to announce the improvement of the US labor market. Greenback was also supported as a save-heaven currency after the announcement of the possible radiation contamination risk as a result of the earthquake in Japan. Explosions at the nuclear power plant in Japan, as a result of the devastating earthquake, supported the yen as a save-heaven currency. Bank of Japan continued to support national finances of the country. Additional 5 trillion yen were injected into the financial system.
Swiss Frank received considerable support as a save-heaven currency and reached historical maximum against the greenback at the level of 0,9137 on Tuesday.
Trading dynamics changed during the American session after the release of the FOMC meeting results. The interest rate was left at the previous level of 0.25% and will be kept at this level unchanged for a “considerable period of time”. The QE2 program was left at the volume of $600B. As a result, the US dollar has lost its attractiveness and the EUR/USD pair grew to the $1.4012 level.
On Wednesday the euro showed decrease after the release of the Moody’s credit rating for Portugal, which was reduced from A1 to A3 with the negative forecast. Concerns over the European budget crises reinforced again. The EUR/USD pair dropped to the minimums of $1.3925. On the same day the USD/JPY pair set a 16-year minimum today at the level of Y76,73 due to the growing concerns regarding the risks of radiation leaks in Japan.

On Thursday the EUR/USD pair showed minimums at the level of $1.3870 during the Asian trading session. Maximums were reached at the level of $1.4054 due to the announcement that Spain sold bonds for 3219 billion euro of the year 2021 and for 911 billion euro of the year 2041. At the same time the GBP/USD pair demonstrated maximum at the $1.6120 mark. European session brought sterling to maximums of $1.6170. The speculations over the possibility that Britain could start an air attack on Libya supported the growth of the pound. Market participants were monitoring the development of the situation at the Fukusima NPP. After the released confirmation that the situation showed some stabilization, the yen dropped from the reached maximums.
According to the released information on Thursday, the Initial jobless claims volume decreased below expectations. Industrial production showed unexpected decrease for 0.1% against the forecasted growth of 0.6%. The Philadelphia Federal index turned out to be above expectations and above the previous month’s level. Nevertheless, the release of the US data did not have any impact on the market dynamics, since investors were mostly influenced by the situation in Japan.
After the conference of the Ministers of Finances and heads of the National banks of the G7 countries, it has been decided to perform a mutual intervention aimed to decrease the rate of the yen. As a result , the USD/JPY reached the Y81,47 level. The EUR/USD increased and closed the trading week at the $1.4183 mark.
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WEEKLY REVIEW FOR 21 - 25.03, 2011

EURUSD
The pair has broken triangle’s upper border and aiming to the channel line at 1.42557. The pair may roll back before break it.
Resistance: 1.44835, 1.47697, 1.50676
Support: 1.41130, 1.37441, 1.33427

GBPUSD
The pair has broken triangle’s resistance and aiming to 1.64272.
Resistance: 1.64274, 1.68504, 1.72652
Support: 1.59962, 1.52523, 1.48532

USDCHF
The pair may return to 0.91074 and higher. MACD convergence may support pair to start corrections.
Resistance: 0.91074, 0.93264, 0.96525
Support: 0.88022, 0.85633, 0.82723

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

AUDUSD
The pair is trying to recover after sharp fall. The level of 1.01873 may become a strong resistance for the pair because MACD divergence.
Resistance: 1.01873, 1.03847, 1.05810
Support: 1.00031, 0.97889, 0.94048

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2 new affiliate site templates have been added to the affiliate profiles' marketing materials. This allows an IB to create his/her own forex website in a matter of minutes. It is easy as 1 2 3. All you need is a domain and you can download one of the 2 ready-made site templates and follow the instructions to create your new site. Your site will look similar to our front page and will act in the same way as your referral links - any referral will be recorded in your affiliate profile history. The sites come complete with all important information about forex trading and will be updated on a daily basis with our market news and technical analysis. The templates can be registered independently with any search engine and promoted on the Internet just like any other website. Enjoy and hopefully this feature will generate a lot of commission for you.
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________________________________________

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**Forex-Metal** · 03-28-2011, 21:10

Weekly review for 21-25.03.2011
On Monday the market participants were waiting for the Euro-zone leaders’ summit, planned for the end of the week in Brussels, aimed to discuss the ways out of the crises. The EUR/USD pair reached its 4-months maximum at the level of $1,4240, due to the reinforced expectations for the possible increase of the interest rate at the next ECB meeting. US dollar was supported on the same day, as a save-heaven currency.
Japanese financial markets were closed on Monday due to celebration of the national holiday. Japanese yen continued to stay under pressure, since interventions of G7 countries prevented the yen rate from growing. According to the released information, the situation at the Fukusima NPP was stabilizing. The USD/JPY pair traded at the level of Y81.00. Australian dollar rate grew, due to the increased oil prices. Other commodity currencies, such as New-Zealand dollar and Canadian dollar increased as well.
Euro continued to strengthen on Tuesday, since the expectations for the possible increase of the interest rate by the ECB reinforced. The EUR/USD pair traded at the level of $1.4240. Released on the same day Consumer Price index turned out to be above forecasts: 4.4% against the 4.2%, which rendered considerable support to the pound. Expectations for the interest rate increase by the Bank of England strengthened as well. As a result, the GBP/USD rate reached the $1.6400 maximum.
The New-Zealand dollar rate showed considerable growth against the greenback, since according to the released information, the New-Zealand economy showed rehabilitation, and the interest rates could be increased during the next meeting by the Reserve Bank of New-Zealand.
Instability in Portugal and concerns regarding the possible deepening of the crises pressured the euro on Wednesday. The EUR/USD pair showed minimums at the level of $1.4150 in the threshold of the Portuguese Parliament meeting on the same day. New reductions of the budget would be discussed, and contradictions between the parties could result in a political crises. Announcement regarding the possible suspension of the European Financial Stability Facility extension pressured the euro, which dropped against its counterparts.
Pound started the day at the previously reached maximum levels. Market participants were waiting for the release of the Bank of England meeting report. After the publication of the minutes of the meeting, the sterling dropped against the US dollar. The GBP/USD pair reached minimums at the $1.6265 mark.
Concerns over the escalated European budget crises continued to pressure the euro on Thursday as well. Portuguese Parliament rejected the government plan to reduce the budget deficit. In addition to that, Moody’s credit agency reduced ratings of a number of Spanish banks. Nevertheless, speculations over the possible increase of the Euro-zone interest rate reinforced, and the euro received considerable support. The EUR/USD pair reached the maximum at the $1.4220 level. Later on the Fitch credit agency decreased the rating of Portugal from A++ to A- with the negative forecast.
According to the released fundamentals on Thursday, US Initial jobless claims dropped below forecast, Durable goods orders data showed unexpected decrease.
On Friday the Standard & Poor's credit agency reduced the credit rating of Portugal from A- to BBB. According to the results of the European summit, the European Financial Stability Fund would be reduced, which rendered additional pressure on the euro. At the sane time, the greenback received substantial support by the announcement of the head of the Philadelphia FRS, Charles Prosser, who stated that the US interest rate should be increased to 2,50% during the current year.
https://forex-metal.com/newsletters/202

Weekly TECHNICAL ANALYSIS for 28 - 01.04, 2011
EURUSD
The pair has reached channel line at 1.42557 and rolled back to 1.40173. The pair may decline to the triangle’s upper border 1.39348.
Resistance: 1.44835, 1.47697, 1.50676
Support: 1.41130, 1.37441, 1.33427
GBPUSD
The pair has declined to triangle’s upper border and Moving Average (100) and testing this level for the support. If the pair breaks 1.59962 the pair will decline to 1.57804.
Resistance: 1.64274, 1.68504, 1.72652
Support: 1.59962, 1.52523, 1.48532
USDCHF
MACD convergence may support the pair to start corrections. Resistance is at 0.93264. Support is at 0.91074.
Resistance: 0.93264, 0.96525, 0.99031
Support: 0.91074, 0.88022, 0.85633
USDJPY
The pair is returning to the triangle’s border and aiming to break it. The pair may rise to 83.330.
Resistance: 83.330, 86.836, 90.909
Support: 80.244, 76.535, 73.126
AUDUSD
The pair has broken 1.01873 and aiming to 1.03847.
Resistance: 1.03847, 1.05810, 1.07806
Support: 1.01873, 1.00031, 0.97889

https://forex-metal.com/newsletters/203

**Forex-Metal** · 04-04-2011, 18:07

IN THIS ISSUE:
1. Weekly market review from Forex-Metal.
2. Weekly technical analysis.
3. Affiliate commissions

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WEEKLY REVIEW FOR 28.03 - 1.04, 2011

During the morning trading on Monday the EUR/USD pair traded in the range of $1,4020-$1,4070. Euro was under pressure due to the influence from the statement of the head of the Philadelphia FRS regarding the necessity of reinforcing the US credit policy. Political instability with the leading German coalition rendered additional pressure on the euro. The US dollar strengthened on Monday morning. The dollar was also supported by the expectations for the strong US economic data later on that week. During the European trading session the dollar rate grew and consolidated.
Japanese yen showed decrease on Monday against the major currencies, since the radioactive contamination risk at the nuclear power plant deceased. Demand for the save-heaven currencies dropped, which pressured the yen as well. The USD/JPY rate grew to the maximums of Y81.85.
During the American trading session on Monday the market dynamics changed. After the statement of the Jean-Claude Trichet the expectations for the interest rate increase by the ECB reinforced and the euro strengthened. As a result, the EUR/USD pair reached maximums of $1.41. The sterling followed the euro strengthening, and the GBP/USD rate grew to the $1,6000 level.
The EUR/USD pair reached the $1.4149 maximum on Tuesday morning, being supported by the statement of the head of ECB, Jean-Claude Trichet. But the following decrease of the euro was also a result of the decision of Standard & Poor’s to reduce credit ratings of Portugal and Greece. Rating of Portugal was decreased to BBB-. Rating of Greece was reduced to BB-.
The speech of James Bullard supported the greenback, and the trading dynamics changed. The President of the St. Louis FRS commented on Tuesday that normalization of monetary policy would be one of the top priorities this year. Expectations for the strong US employment release the same week supported the American dollar as well.
On Wednesday the EUR/USD minimum was reached at the $1.4060 level. Member of the ECB’s Executive Board, Lorenzo Bini Smaghi mentioned in his statement that risk of the expanding Euro-zone sovereign debt “should not be called insignificant”. As a result, the euro was pressured. But during the second part of the day the trading dynamics changed. The EUR/USD pair reached maximum during the American trading session at the level of $1.4146. Sterling managed to stabilize and the GBP/USD pair reached the $1.6083 maximum. The released on Wednesday the CBI reported sales for March turned out to be much higher expectations: forecasted -1 against the factual 15.
Australian dollar set a new historical maximum against the US dollar due to the speculations regarding the possibility that the world economy growth would support the demand for the commodities, which play a major role in the Australian export. On Thursday the Australian dollar continued to strengthen due to the released Retail sales volume increase for 0.5% against the forecasted growth for 0.4%.
Expectations for the publication of the strong German fundamentals supported the euro during the Asian trading session. As a result the EUR/USD pair reached the $1.4180 level. Reinforced expectations for the increase of the interest rate (as a result of the increased Euro-zone inflation today) at the next ECB meeting rendered additional support to the euro. According to the released data, German unemployment decreased for 55K against the expected decrease for 25K. But German retail sales dropped suddenly for 0.3%. The EUR/USD continued to grow and reached the $1.4235 level. Stress-tests that were performed in Ireland showed that 4 Irish banks would need additional financial support. Nevertheless, this fact did not have a negative impact on the euro. The GBP/USD reached maximums at the $1.6150 mark on Thursday as well. Unexpected increase of the Nationwide house prices against the forecasted drop resulted in the growth of the pound. Greenback was under pressure on Thursday, and decreased against all major currencies. But during the American trading session the US dollar managed to strengthen after the comments of the representative of the FRS, Narayan Kocherlakota, when he supported the forecast that the interest rates would be increased.
On Friday US dollar competitors reached new highs. William Dadly, the president of the New-York FRS, stated that the FRS would continue to maintain the same monetary policy during a prolonged period of time. As a result, the EUR/USD pair reached the $1.4246 maximum, and the GBP/USD pair grew above the $1.61 mark..

Happy trading!
________________________________________
WEEKLY REVIEW FOR 4.04 - 8.04, 2011

EURUSD
The pair has reached channel line at 1.42557 which is a resistance level. At the same level is Fibonacci 23,6%. If the pair stays above 1.42557 the pair will rise to 1.44835.
Resistance: 1.44835, 1.47697, 1.50676
Support: 1.41130, 1.37441, 1.33427

GBPUSD
The pair has declined to triangle’s upper border and Moving Average (100) and testing this level for the support. The pair stayed above support 1.59962. It may bring pair to rise to 1.64274. If the pair breaks 1.59962 the pair will decline to 1.57804.
Resistance: 1.64274, 1.68504, 1.72652
Support: 1.59962, 1.52523, 1.48532

USDCHF
MACD convergence may support the pair to start corrections. Resistance is at 0.93264. Support is at 0.91074.
Resistance: 0.93264, 0.96525, 0.99031
Support: 0.91074, 0.88022, 0.85633

USDJPY
The pair has broken upper border of the triangle and aiming to Moving Average (100) at 88.748. But before that the pair needs to break 86.836.
Resistance: 86.836, 90.909, 94.707
Support: 83.330, 80.244, 76.535

AUDUSD
The pair is aiming to 1.03847. If the pair stays below 1.03847 the pair may start corrections and may roll back to 1.01873.
Resistance: 1.03847, 1.05810, 1.07806
Support: 1.01873, 1.00031, 0.97889

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https://forex-metal.com/newsletters/204

https://forex-metal.com/newsletters/205

**Forex-Metal** · 04-11-2011, 20:43

Weekly review for 04-08, 04, 2011
The beginning of the previous trading week saw the strong euro growth against the US dollar, which continued during the whole week. Reinforced expectations for the increase of the interest rate by the ECB rendered a strong support for the euro on Monday. The ECB meeting was planned for April 7-th. The EUR/USD pair demonstrated its maximum at the level of $1.4269. At the same time uncertainty expressed by the FRS members regarding the interest rate increase pressured the greenback. Sterling showed considerable growth on Monday as well, since the released UK PMI construction data demonstrated growth to 56.4 above the forecasted 54.8. As a result, the GBP/USD reached the maximums of $1.6176.
The Reserve Bank of Australia published the interest rate decision on Tuesday. According to the expectations the interest rate was left unchanged at the previous level of 4.75%. The Australian dollar rate was not influenced by the rate publication. At the same time the released Trade balance was weaker than the forecasts, as a result, the national currency dropped against the greenback.
Euro and other major currencies demonstrated diverse dynamics on Tuesday. Published economic releases had strong influence on the investors’ decisions on that day. The EUR/USD pair dropped to the minimums of $1.4148 after the release of the Euro-zone Retail sales data, which turned out to be below expectations. The published PMI data could not render support to the euro either. During the Asian and European trading sessions the greenback demonstrated strengthening against the major currencies. Expectations for the increase of the principal rate by the FRS reinforced. At first the pound followed the weakness of the euro and the GBP/USD traded in the range of $1.6100-$1.6140. But the released GB PMI data was much higher than its forecast: 57.1 against the 52.6. Therefore, the GBP/USD showed a strong increase and reached the $1.6250 maximums. Market participants were waiting for the release of the UK interest rate decision, which was planned for this week. During the American trading session the trading dynamics changed, due to the release of the relevant fundamentals in the US and minutes of the FOMC meeting. The ISM Non-manufacturing composite index dropped below its forecasts. Expectations of the future monetary program are still very unclear. As a result, the US dollar turned out to be under pressure. The EUR/USD pair reached the maximum of $1.4246 and the GBP/USD almost hit the $1.6300 maximum.
The euro was supported on Wednesday in anticipation of the interest rate increase. Asian trading session showed maximums of the EUR/USD pair at the level of $1.4270. During the European trading session the EUR/USD pair hit the $1.4315 maximum. Considerable increase of the German factory orders rendered additional support to the euro. The US dollar continued to loose its positions against the major currencies. The GBP/USD pair showed growth to the $1.6364 mark. But after the release of the GB Industrial production data, which demonstrated unexpected decrease below the forecasts, the pound dropped. The released on the same day GB Halifax house prices showed a decrease as well. As a result, the GBP/USD pair dropped to $1.6262 minimums.
According to the expectations, the Bank of Japan would leave the principal rate at the previous level of 0.1%. The USD/JPY pair reached maximum of Y85.52 level on Wednesday.
Gold rate continued to be supported by the increased demand for gold against the reinforced concerns over the Euro-zone budget crises and nuclear problem in Japan. Its maximum was reached at the $1460.95 mark per ounce on Wednesday.
The Australian dollar hit the new historical maximum against the greenback after the released unexpected Employment growth in Australia to the level of 37.8K against the forecasted growth only for 24.0K on Thursday. Unemployment rate decreased as well.
Portugal applied for financial support from European Union. As a result, the euro demonstrated a decrease and the EUR/USD pair dropped to $1.4260 on Thursday. Experts expected Portugal to apply for help but were concerned that the crises would spread on Spain as well. According to the forecasts, the ECB was going to increase the interest rate to the 1.25%. Therefore, the euro reacted with some growth (euro was still under negative influence from Portugal). The EUR/USD managed to reach the $1.4293 maximum. British Pound decreased on the same day after the announcement of the Bank of England that the interest rate would stay at the previous level of 0.5%. The GBP/USD pair showed minimums at the $1.6297 mark.
The recent drop of the yen was too extreme, therefore, on Thursday the yen started to rehabilitate as market participants were buying the yen at its low rate level. According to the expectations, the Bank of Japan left the principal rate unchanged at the previous level of 0.1%. The USD/JPY rate decreased to Y84.89 minimums. The announcement of a new earthquake in Japan on Thursday with magnitude of 7.4 resulted in the strengthening of the national currency against the US dollar.
https://forex-metal.com/newsletters/206

Weekly TECHNICAL ANALYSIS for 11 - 15.04, 2011
EURUSD
The pair has broken channel line and risen to 1.44835. The pair may roll back to 1.42551 before continue rising.
Resistance: 1.44835, 1.47697, 1.50676
Support: 1.41130, 1.37441, 1.33427
GBPUSD
The pair is testing resistance 1.64274. If the pair breaks this level the pair will rise to 1.68504.
Resistance: 1.64274, 1.68504, 1.72652
Support: 1.59962, 1.52523, 1.48532
USDCHF
The pair declines below 0.91074. It may bring pair to test 0.89177 the second time.
Resistance: 0.91074, 0.93264, 0.96525
Support: 0.88022, 0.85633, 0.82723
USDJPY
The pair has broken upper border of the triangle and aiming to Moving Average (100) at 88.748. But before that the pair needs to break 86.836. The pair roll back to 83.330 before continues rising.
Resistance: 86.836, 90.909, 94.707
Support: 83.330, 80.244, 76.535
AUDUSD
The pair has risen to resistance level at 1.05810. The indicators are in overbought zone. The corrections are possible. Strong support maybe met at 1.01873.
Resistance: 1.05810, 1.07806, 1.09604
Support: 1.03847, 1.01873, 1.00031
https://forex-metal.com/newsletters/207

**Forex-Metal** · 04-11-2011, 20:46

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**Forex-Metal** · 04-18-2011, 12:49

Weekly review for 11 – 15, 04. 2011
Last week saw market participants mostly supporting the save-heaven currencies. The trading week started with some decrease of the euro rate, since market participants considered that the former rally of the euro was excessive. The EUR/USD traded in the range of $1,4420-$1,4480. The released announcement of the Minister of Finance of Greece, that the country would need financial support, rendered additional pressure on the euro dynamics on Monday. According to some experts’ opinion, the euro was ready for a correction, and the growth period was over. At the same time the greenback received support on Monday due to the reached agreement concerning the reduction of the US budget expenses for $38 billion.
The USD/JPY pair dropped to the Y84.5 level on Monday. The Japanese yen was growing against the major currencies after the 7.1 magnitude earth-quake, which struck Japan again.
On Monday the GBP/USD pair tried testing the $1,6400 maximum. According to the experts’ opinion, pound might continue testing maximum levels. The GBP RICS house price balance for March demonstrated a better result: -23% against the forecasted -24% level and last month’s -26%.
New earth-quakes continue to descend on Japan, and were the reason of the increased demand for the save-heaven assets. The national currency rate continued to grow on Tuesday as well. The risk level of NPP Fukushima was increased to its maximal point. Asian stock markets dropped. The USD/JPY grew to the Y84.40 mark.
Swiss frank rate showed considerable growth on Tuesday as well, as a save-heaven currency.
The released on Tuesday German ZEW survey (economic sentiment) showed an unexpected drop to 7.6 against the forecasted level of 11.3. Nevertheless, the euro demonstrated a positive dynamics in anticipation of the EC and IMF meeting. The EUR/USD pair reached the maximum of $1,4500, as the EC and IMF members started to prepare the financial support package for Portugal in the amount of 80 billion euro.
The GB fundamental releases demonstrated decreased inflation on the same day, which resulted in the drop of the pound against the US dollar and the euro as well. The GBP/USD pair decreased from the maximums of $1.6320 to minimums of $1.6220. Therefore, expectations for the possible increase of the UK principal rate, dropped.
According to the expectations, the Bank of Canada left the principal rate unchanged at the level of 1.00%. As a result, the greenback managed to strengthen against its Canadian competitor on Tuesday.
Tthe released Euro-zone fundamentals showed unexpected decrease on Wednesday. The Euro-zone Industrial production for February showed a decrease to 0.4% compared to forecasted 0.8%. Greece announced of the necessity to write off part of its debt, so that the normal development of the country would still be possible. As a result, the EUR/USD dropped to the $1.4450 minimums.
Diverse GB labour market data was released on the same day. The Jobless claims change for March increased for 0.7K, but the UK unemployment rate grew to 7.8% (which was below the expected level).
The released US Advance Retail sales for March decreased. But the Beige Book Economic survey publication was positive, which rendered support for the greenback and resulted in the temporary growth against its competitors.
The New-Zealand dollar reached its 5-months maximum against the US dollar on Thursday after the results of the New-Zealand state bonds auction publication, when government managed to raise funds in the amount of $556 million. Euro demonstrated growth against the US dollar during the Asian trading session, due to the speculations regarding the further increase of the principal interest rate by the ECB in a faster pace, compared to the FRS interest rate decisions. As a result, the EUR/USD reached maximums above the $1.4500 level. But the European trading session changed the euro dynamics. Concerns over the budget problems of Greece and Ireland pressured the euro. EUR/USD minimums were set at the $1.4362 mark.
Negative US fundamentals, which were released on Thursday, could not render any support to the greenback. The released producer price index dropped below expectations. Initial jobless claims volume grew above forecasts. Therefore, the EUR/USD managed to grow and closed the trading day at the level of $1.4500.
On Friday the Moody’s rating agency reduced the rating of the Ireland state bonds with a negative forecast, which pressured the euro rate.
https://forex-metal.com/newsletters/208
Weekly TECHNICAL ANALYSIS for 18 - 22.04, 2011
EURUSD
The pair has broken channel line and risen to 1.44835. The pair may roll back to 1.42551 before continue rising.
Resistance: 1.44835, 1.47697, 1.50676
Support: 1.41130, 1.37441, 1.33427
GBPUSD
The pair is trading below resistance 1.64274, it may bring pair to decline to 1.59962.
Resistance: 1.64274, 1.68504, 1.72652
Support: 1.59962, 1.52523, 1.48532
USDCHF
The pair declines below 0.91074. It may bring pair to decline to the next support level at 0.88022. Resistance: 0.91074, 0.93264, 0.96525
Support: 0.88022, 0.85633, 0.82723
USDJPY
The pair has broken upper border of the triangle and aiming to Moving Average (100) at 88.748. It will be possible only if the pair stays above 83.330.
Resistance: 86.836, 90.909, 94.707
Support: 83.330, 80.244, 76.535
AUDUSD
The pair has risen to resistance level at 1.05810. The indicators are in overbought zone. The corrections are possible. Strong support maybe met at 1.01873.
Resistance: 1.05810, 1.07806, 1.09604
Support: 1.03847, 1.01873, 1.00031
https://forex-metal.com/newsletters/209

**Forex-Metal** · 04-25-2011, 09:54

Weekly review for 18 – 22. 04, 2011
The previous trading week started with the decrease of the euro. The EUR/USD pair demonstrated minimums at the level of $1.4350. The euro was pressured as a result of the speculations that the Greece would not be able to avoid default. Elections in Finland also had a negative influence on the euro. One of the leading political parties “True Finns” was against the EC plan to render financial support to the European countries. The Parliament of Finland would probably block the decision to offer financial support to Portugal. New EUR/USD minimums were set at the $1.4265 mark. The GBP/USD pair dropped below the $1.6300 mark. Trading day minimums were set at the $1.6240 range. Greenback was in demand on Monday, as concerns over the European debt crises reinforced. The released decision of the credit agency Standard & Poor’s to reduce the credit rating of the US from stable to negative rendered temporary support to the greenback competitors. As a result, the EUR/USD managed to grow and hit the $1.4350 maximum, and the GBP/USD rate increased to the $1.6300 level.
Tuesday saw strengthening of the euro. Greece placed its bonds successfully. In addition, Euro-zone released strong statistics on that day. The PMI manufacturing and PMI services data of most of the European countries were above expectations. Negative US fundamentals supported the euro strengthening as well. Expectations for the increase of the ECB interest rate reinforced. The EUR/USD pair grew to the maximums of $1.4315.
The released on the same day Canadian Consumer Price index for March increased for 3.3% against the forecasted growth of 2.8%. As a result, the Canadian dollar strengthened against the greenback.
The US real estate statistics, which was released on Tuesday, had a very positive impact on the market participants’ optimism. This influence lasted on Wednesday as well, and risky assets received substantial support. As a result, investors moved out their funds from the US dollar.
As a risky asset, the Australian dollar rate increased against the US dollar, and hit a new historical maximum. Canadian dollar rate grew against the American dollar due to the strong consumer price indices data, which was released in Canada a day before.
The GBP/USD pair grew and strengthened at the level of $1.6400. But this growth was only temporary, since after the release of the Bank of England meeting, the pound was under pressure. According to the expectations, the principal rate would not be increased at the next BoE meeting. Eventually, the sterling decreased to the $1.6300 range.
Meanwhile gold was renewing its historical maximums every day. On Wednesday the maximums was set at the level of $1504.50 per ounce against the background of the weakened US dollar.
Release of the strong Australian fundamentals supported the national currency on Thursday, and the Australian dollar hit a 29-year maximum against the US dollar. The Producer price index grew and turned out to be at the level of 1.2%, which was above the forecasted 1.0%. Expectations for the further increase of the interest rate reinforced.
Thursday saw continuing strengthening of the euro. The EUR/USD grew to the $1,4650 mark. But later during the day the US dollar rate rehabilitated and won back its previously lost positions.
The EUR/USD pair closed the week at the $1.4550 mark. The GBP/USD pair closed the week above the $1.6500 level.US dollar competitors strengthened as investors were leaving for a long weekend. On Friday the Financial markets of the US, Canada, European countries, Australia and New-Zealand will be closed due to the Easter holidays.
https://forex-metal.com/newsletters/210

Weekly TECHNICAL ANALYSIS for 25 - 29.04, 2011
EURUSD
The pair has risen to 1.46531 and rolling back to 1.44835. If 1.44835 is broken the pair will decline to 1.42923.
Resistance: 1.47697, 1.50676, 1.54340
Support: 1.44835, 1.41130, 1.37441
GBPUSD
The pair has risen to Moving Average (200) at 1.65458 this is a resistance for the pair and rollback to 1.64274 may be expected. If the pair rises above Moving Average the pair will aim to 1.68504.
Resistance: 1.68504, 1.72652, 1.78085
Support: 1.64274, 1.59962, 1.52523
USDCHF
The pair has reached support level at 0.88022. The pair may roll back to 0.91074.
Resistance: 0.91074, 0.93264, 0.96525
Support: 0.88022, 0.85633, 0.82723
USDJPY
The pair has returned below 83.330. It may bring pair to decline to 80.244.
Resistance: 83.330, 86.836, 90.909
Support: 80.244, 76.535, 73.126
AUDUSD
The pair has risen to resistance level at 1.07806. The indicators are in overbought zone. The corrections are possible. Strong support maybe met at 1.01873.
Resistance: 1.07806, 1.09604, 1.11831
Support: 1.05810, 1.03847, 1.01873
https://forex-metal.com/newsletters/211

**Forex-Metal** · 05-03-2011, 11:28

IN THIS ISSUE:
1. Weekly market review from Forex-Metal.
2. Weekly technical analysis.
3. New Forex pairs added.
4. Affiliate commissions
5. Get a 30% trading bonus when you open a new account.
6. Representatives Wanted!

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WEEKLY REVIEW FOR 25 – 29. 04, 2011

The previous trading week continued the weakening of the US dollar. During the morning trading on Monday the EUR/USD demonstrated movements in the range of $1.4520-$1.4600. Euro strengthened against the greenback due to expectations for the strong Euro-zone fundamentals to be published this week. Possibility of the ECB interest rate increase grew. Maximum of the EUR/USD pair was reached at the $1.4628 level.
Japanese yen started the week with a decrease as a result of the speculations that Bank of Japan might increase its credit program, aimed to support the rehabilitation of the national industry from the earth quakes. It was expected that the Bank of Japan would leave the principal rate unchanged. Minimum of the USD/JPY was reached at the Y81.88 mark.
American trading session demonstrated a change in the trading dynamics of the greenback on Monday. US dollar strengthened against its major competitors due to the drop of the American stock markets. Demand for the risky assets dropped. Decrease of the US new home sales data supported the greenback as a save-heaven currency.
On Tuesday morning the US dollar continued to strengthen. But during the European trading session the greenback dropped in anticipation of the FRS meeting, planned for Wednesday. It was expected that the interest rate would be left unchanged as well as the current monetary policy. The EUR/USD pair grew and reached the $1,4600 level against the background of the weakening greenback. $1.4652 maximum was reached during the European trading session. The GBP/USD pair grew to the $1,6500 mark following the euro growth. European trading session showed maximums of $1.6533 level.
As the demand for the risky assets dropped on the same day, the USD/CHF hit new historical minimum at the level of 0,8750.
During the American trading session the greenback continued to drop. Negative US fundamentals pressured the national currency. The S&P Case-Shiller composite-20 index decreased for 3.3% compared to the previous year. Market participants were waiting for the results of the head of the FRS, Ben Bernanke, press-conference after the FOMC meeting.
Greenback reached its 16-month minimum against the euro on Wednesday. It was expected that the FRS would discuss further measures of economy stimulation.
The Australian dollar renewed its historical maximum against the US dollar due to the strong fundamentals, that were released on Wednesday. The Consumer prices index for the first quarter turned out to be higher than expectations and above its previous volume: 3.3% against the forecasted 3.0%. Expectations for the interest rate increase by the Reserve Bank of Australia reinforced.
The GBP/USD rate also grew and the pair reached maximums of $1,6520. Increased UK Gross Domestic Product for the first quarter supported the pound growth. As a result, the sterling hit the $1.6580 range.
S&P Credit agency reduced the credit rating of Japan to negative level on Wednesday. As a result, the national currency dropped. The USD/JPY pair grew to the Y82.30 mark.
Greenback decreased against the euro after the FOMC meeting. Principal rate was left at the previous minimal level of 0-0.25% and the quantitative easing program would be completed in June, as it has been planned. As a result, the EUR/USD grew to the level of $1,4790 and the GBP/USD rate reached the $1,6620 maximum.
Greenback continued to demonstrate decrease against its major competitors on Thursday. The FRS decision to maintain the extra-low principal rates’ politics pressured the US dollar. Nevertheless, the temporary correction followed the excessive drop of the dollar, and the greenback managed to rehabilitate and won back its previously lost positions. Due to the US dollar weakening during the Asian trading session the EUR/USD grew and reached the $1,4881 maximums. The sterling followed the euro, and the GBP/USD increased to $1,6745 level.
The USD/JPY pair reached the Y81,40 range. Bank of Japan left the principal rate unchanged on Thursday at the previous level of 0,00%-0,10%, which was expected.
Negative US fundamentals were released during the American trading session on the same day. Unemployment growth and US GDP, which turned out to be below forecasts, did not have a strong influence on the greenback dynamics.
By the end of the week the EUR/USD traded above the $1,48 mark, and the GBP/USD reached levels above the $1,67 maximum.

Happy trading!
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WEEKLY REVIEW FOR 2.05 - 6.05, 2011

EURUSD
The pair has met resistance at 1.47697. The indicators show that corrections may start. First aim is at 1.47342, next 1.46222.
Resistance: 1.47697, 1.50676, 1.54340
Support: 1.44835, 1.41130, 1.37441

GBPUSD
The pair is aiming to test 1.68504. Support is at 1.64274.
Resistance: 1.68504, 1.72652, 1.78085
Support: 1.64274, 1.59962, 1.52523

USDCHF
The pair has reached next support level at 0.85633 and may roll back to 1.88022.
Resistance: 0.88022, 0.91074, 0.93264
Support: 0.85633, 0.82723, 0.79957

USDJPY
The pair has returned below 83.330. It may bring pair to decline to 80.244.
Resistance: 83.330, 86.836, 90.909
Support: 80.244, 76.535, 73.126

AUDUSD
The pair has risen to resistance level at 1.09604. The indicators are in overbought zone. The corrections are possible. First level for the carrion is 1.08070. Strong support is at 1.01873.
Resistance: 1.09604, 1.11831, 1.14307
Support: 1.07806, 1.05810, 1.03847

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NEW FOREX PAIRS ADDED

Japanese Yen is one of the most attractive currencies these days. We decided to make trading it even more attractive by adding 6 new JPY crosses for your convenience. The following new pairs have been added today:

TRYJPY
ZARJPY
SEKJPY
SGDJPY
HKDJPY
NOKJPY

At the same time spreads have been reduced significantly on 2 popular European currencies crosses:

USDNOK
USDSEK

If you like exotic currency crosses, then we hope that you will enjoy trading these new pairs.
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**Forex-Metal** · 05-03-2011, 11:32

Forex-Metal, a leading online Forex and CFD market maker since 2007, has launched a new website, ForexBrokerSolutions.com, to help finance professionals and companies trading in stocks, CFDs, futures, and options start or expand forex and CFD trading business. The Company's White Label Solution is suitable for established brokers and newly formed businesses alike, as well as for business consultants, educators, accountants, introducing brokers and other financiers who may wish to open another business avenue for their existing business.

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About Forex-Metal: The Company offers online Forex and CFD trading for beginners and advanced traders. Formed in 2007 by a group of professional dealers with many years of experience trading for various financial institutions and banks, Forex-Metal is recognized as one of the leading Forex and CFD brokers. The company is famous for its competitive forex trading conditions and outstanding customer service.

**Forex-Metal** · 05-09-2011, 14:04

Weekly review for 02 -06. 5, 2011
The beginning of the previous trading week saw the strengthening of the US dollar after the official announcement of the liquidation of the terrorist #1 Osama Ben Laden. Market participants were optimistic during the Asian and European trading sessions on Monday. Strengthening of the US dollar lead to the decrease of the EUR/USD pair to the $1,4800 level, to the decrease of the GBP/USD to the $1,6800 mark to the increase of the USD/JPY pair to the Y81,50 level.
The Australian dollar rate dropped on Monday in anticipation of the Reserve Bank of Australia meeting, where the principal rate was supposed to be left unchanged.
The publication of the US ISM manufacturing index for April influenced the decrease of the American dollar during the American trading session. The index turned out to be at the level of 60.4 against the 61.2 level for the previous month. Forecasts and concerns over the possibility that the FRS would continue keeping the principal rates at the minimal positions reinforced.
According to the expectations, the Reserve Bank of Australia left the principal rate unchanged at the level of 4.75%. Australian dollar dropped due to the decreased demand for the commodity currencies on Tuesday.
After the liquidation of Osama Ben Laden, the possibility of the terrorist attacks grew, and the demand for the save-heaven assets increased on Tuesday. Stock markets dropped.
Negative UK fundamentals, released on the same day, pressured the pound. The manufacturing purchasing manager index for April dropped to the level of 54.6 against the expected 57.0. Minimums of the GBP/USD pair were set at the $1.6460 mark. Expectations for the increase of the principal rate by the Bank of England dropped.
Japanese financial markets were closed on Tuesday due to the celebration of the national holiday. The yen was supported as the demand for the save-heaven assets grew. The USD/JPY rate dropped to the Y80.80 minimums.
According to the results of the elections in the Canadian Parliament, the Conservative party and the Prime Minister Steven Harper won for the third year in a row. As a result, Canadian dollar increased.
Investors avoided risks on Wednesday in anticipation of the ECB interest rate decision. Released Euro-zone fundamentals pressured the euro, since the data turned out to be negative. European PMI indices were below expectations. Euro-zone retail sales volume decreased below forecasts.
Euro grew during the second part of the day on Wednesday. Euro reached its 17-months maximum against the US dollar. The EUR/USD pair traded at the level of $1,4900. Sterling grew as well as a result of the speculations that the Bank of England would increase principal rates. Greenback dropped against the euro and the pound as a result of the released weak US statistics. In particular, the ADP employment dropped in April to 179K against the forecasted level of 195K. The ISM non-manufacturing composite index showed decrease to 52.8 against the expected 57.5. Canadian dollar dropped against the greenback due to the decreased oil prices.
Thursday saw a considerable decrease of the euro. Following the announcement, that the ECB left the principal rate unchanged at the previous level of 1.25%, the statement of the ECB head, Jean-Claude Trichet, read that the Euro-zone rates would not be increased for some time now. The released Euro-zone statistics pressured the euro as well. The German Factory orders for March resulted at the 9.7% level, much lower than the expected 15.4%. As a result, the EUR/USD pair dropped from the maximums of $1.4870 to the minimums of almost $1,45 level.
Sterling was also under pressure on that day. The released UK fundamentals could not support the national currency. The GBP PMI services turned out to be 54.3, which was lower than its forecast of 56.0. According to the expectations, the Bank of England left the principal rate unchanged at the record-breaking minimal level of 0.5%. The GBP/USD pair dropped from the maximums of $1.6530 to minimums of $1,6400. The USD/JPY pair showed minimums of Y79.55.
Oil continued to drop, and the price reached the minimum of $100 mark per barrel. Canadian dollar decreased as a result of the oil prices’ drop.
Greenback rehabilitated from its previous losses and strengthened during the American session on Thursday. Demand for the save-heaven assets grew and the commodity markets’ prices went down. Dollar strengthened in spite of the negative US fundamentals, released on that day. The US initial jobless claims grew to 474K against the expected drop to 410K.
On Friday the EUR/USD pair decreased to the $1,44 level after the announcement that Greece might withdraw from European community. The released change in US non-farm payrolls turned out to be above expectations, which supported the greenback.
https://forex-metal.com/newsletters/214

Weekly TECHNICAL ANALYSIS for 9 - 13.05, 2011
EURUSD
The pair declined below 1.44835. If the pair stays below this level the pair will decline to 1.41130.
Resistance: 1.44835, 1.47697, 1.50676
Support: 1.41130, 1.37441, 1.33427
GBPUSD
The pair is aiming to test 1.68504. Support is at 1.64274. If the pair closes below this level the pair will decline to 1.59962.
Resistance: 1.64274, 1.68504, 1.72652
Support: 1.59962, 1.52523, 1.48532
USDCHF
The pair is trading between support 0.85633 and resistance 1.88022.
Resistance: 0.88022, 0.91074, 0.93264
Support: 0.85633, 0.82723, 0.79957
USDJPY
The pair is decline to 80.244.
Resistance: 83.330, 86.836, 90.909
Support: 80.244, 76.535, 73.126
AUDUSD
If the pair stays below 1.07806 the pair will decline to 1.05810. Strong support is at 1.01873.
Resistance: 1.07806, 1.09604, 1.11831
Support: 1.05810, 1.03847, 1.01873
https://forex-metal.com/newsletters/215

**Forex-Metal** · 05-10-2011, 19:15

In response to customers’ requests, Forex-Metal, a leading online Forex and CFD market maker, is pleased to announce the addition of 6 new currency pairs to its state-of-art Metatrader platform. The new pairs are TRYJPY (Turkish Lira vs Japanese Yen), ZARJPY (South African Rand vs Japanese Yen), SEKJPY (Swedish Krona vs Japanese Yen), SGDJPY (Singapore dollar vs Japanese Yen), HKDJPY (Hong Kong Dollar vs Japanese Yen), and NOKJPY (Norwegian Krone vs Japanese Yen).
The Company hopes its clients will enjoy a wider choice of trading instruments now available. Forex-Metal clients can now trade 55 currency pairs with fixed tight spreads starting from 1 pip. To view Forex-Metal’s competitive spreads for all currency pairs, visit https://forex-metal.com/home/contract_parameters
Committed to providing its clients with the best trading conditions, Forex-Metal will keep on introducing new services and trading instruments.
About Forex-Metal: The Company offers online Forex and CFD trading for beginners and advanced traders. Formed in 2007 by a group of professional dealers with many years of experience trading for various financial institutions and banks, Forex-Metal is recognized as one of the leading Forex and CFD brokers. The company is famous for its competitive forex trading conditions and outstanding customer service.
Facebook: http://www.facebook.com/ForexMetalBroker
Twitter: http://twitter.com/#!/ForexMetal

**Forex-Metal** · 05-17-2011, 07:47

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1. Weekly market review from Forex-Metal.
2. Weekly technical analysis.
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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

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GET A FREE ATM DEBIT CARD WITH EVERY NEW ACCOUNT

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

________________________________________

**tab** · 05-17-2011, 16:48

I have a strong feeling EURUSD will break out higher, this is all artificial news not strong enough to dethrone the Euro at the moment, this is a tiny correction before it goes to 1.65 by the end of the year.

**TopTrader** · 05-20-2011, 04:14

What is your firms minimum margin requirements and account types?

**Forex-Metal** · 05-30-2011, 20:24

IN THIS ISSUE:
1. Weekly market review from Forex-Metal.
2. Weekly technical analysis.
3. Spreads are reduced on exotic pairs.
4. Get a 30% trading bonus when you open a new account.
5. Representatives Wanted!
________________________________________
WEEKLY REVIEW FOR 23 – 27. 05, 2011

Last week demonstrated diverse trading dynamics of the major currencies. Concerns over the possible reduction of the credit rating of Italy by Standard & Poor’s credit agency, pressured the euro on Monday. Reduction of the credit rating of Greece continued to have a negative influence on the euro as well. European budget crises pushed investors’ optimism lower. During the elections to local authorities, that just took place in Spain, the opposition People’s Party received most of the votes, which rendered additional pressure on the euro. Released on the same day European PMI indices turned out to be below the forecasts and lower previous month’s levels. For example, the Euro-zone PMI (composite) index was 55.4 against expected 57.3. The EUR/USD pair dropped to the $1.4060 minimums. European trading session showed minimums of $1.3970. The GBP/USD pair dropped to the $1.6110 level.
The euro started its growth during the Asian trading session on Tuesday and reached the $1.4060 mark. After the release of the European statistics on Tuesday, the euro continued its growth. German IFO – Business Climate, Current Assessment and Expectations for May turned out to be above expectations. As a result, expectations for the increase of the Euro-zone principal rate reinforced. According to the experts’ expectations, the European budget crises would reinforce and return to the focus of the market very soon.
Publication of the UK weak fundamentals on Tuesday pressured the sterling. Increase of the Public sector net borrowing volume had a negative impact on the national currency. But major pressure came from the statement of the Moody’s credit agency about the decrease of the credit ratings of the number of British banks. At the same time the CBI Reported sales happened to be above forecasts: 18 against expected 11. Therefore, the GBP/USD grew to the $1.6180 level.
Greenback was pressured during the American session after the release of the negative Richmond Fed Manufacturing index, which dropped to -6 against the positive forecast of 9. As a result, the EUR/USD pair grew and reached the $1,4130 maximum and the GBP/USD pair reached the $1,6200 mark.
Uncertainty and lack of consensus with the Greek budget problems pressured the euro on Wednesday. The EUR/USD pair showed minimums at the $1.4000 level. Later on the euro managed to strengthen and reach the $1.4070. Swiss frank set a new historical maximum against the euro on Wednesday. Concerns regarding the possible slow-down of the economic rehabilitation of the region as a result of the European debt crises, pressured the euro. At the same time, possibility of the principal rates increase by the Central bank of Switzerland, supported the national currency. The GBP/USD pair decreased to the minimums of $1.6130 during the Asian trading session on the same day. The released UK GDP data turned out to be at the expected level. The quarterly GDP demonstrated the 0.5% level, the yearly GDP showed 1.8% level. The GBP/USD pair grew above the $1.6200 maximums.
Euro managed to grow against the US dollar on Thursday and kept its reached positions. The head of the ECB, Jean-Claude Trichet, supported the euro by his statement, that the ECB is watching the inflations closely, which reinforced the speculations that the interest rates could be increased. In the morning the euro was supported by the possibility that China was going to increase its volume of purchases of European countries’ bonds. Therefore, the positive expectations for the rehabilitation of the Euro-zone budget crises increased. The EUR/USD pair reached maximums of $1.4190 mark.
The Australian dollar rate strengthened on the same day against its competitors after the release of the Private capital expenditures in the first quarter in Australia. This indicator grew for 3.4% against the expected increase for 2.7%.
Greenback decreased against the yen and the Swiss frank after the release of the weak US fundamentals during the second part of the day on Thursday. The Annualized GDP dropped below expectations and the Initial jobless claims grew above forecasts.
On Friday greenback demonstrated its negative move against all major currencies. The released on that day American consumer expenditures growth turned out to be below expectations. As a result, possibility of the interest rates increase in the US dropped.

Happy trading!
________________________________________
WEEKLY REVIEW FOR 30.05 - 3.06, 2011

EURUSD
The pair is trading around support 1.41130, if the pair closes below this level the pair will decline to the next level at 1.37441.
Resistance: 1.44835, 1.47697, 1.50676
Support: 1.41130, 1.37441, 1.33427

GBPUSD
The pair is trading between Moving Averages (200) 1.65379 and (100) 1.59962.
Resistance: 1.64274, 1.68504, 1.72652
Support: 1.59962, 1.52523, 1.48532

USDCHF
The pair has declined below 0.85633. it may bring pair to decline to the next support level at 0.82723.
Resistance: 0.88022, 0.91074, 0.93264
Support: 0.85633, 0.82723, 0.79957

USDJPY
The pair couldn’t rise to 83.330 and may decline to 80.244. If this level is broken the pair will continue declining.
Resistance: 83.330, 86.836, 90.909
Support: 80.244, 76.535, 73.126

AUDUSD
The pair is trading between 1.07806 and 1.05810. If 1.05810 is broken the pair will decline to 1.03847.
Resistance: 1.07806, 1.09604, 1.11831
Support: 1.05810, 1.03847, 1.01873

________________________________________
NEW LOW SPREADS ON USDNOK AND USDSEK

Forex-Metal is pleased to announce the reduction of spreads on USDNOK and USDSEK currency pairs. The tightening of spreads and the recent introduction of six new currency pairs will give Forex-Metal's clients an opportunity to trade a wider choice of exotic currency pairs with the tightest spreads available in the market.

Forex-Metal views spreads tightening and providing a commission-free trading as one of its priorities. As a market-maker, Forex-Metal does not charge a commission for trading but is compensated for its services through a spread between bid/ask prices. The Company is committed to providing its clients with the best trading conditions through the Metatrader platform, including very competitive low spreads starting from 1 pip, zero commission, instant execution of orders, no-swap and Islamic accounts, ability to trade all instruments from a single account, rebates to active traders, free mobile, iPhone, and Android trading applications.

The full list of currency pairs and spreads offered can be viewed at
https://forex-metal.com/home/contract_parameters
________________________________________

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/discount06
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. 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.

________________________________________
OPEN ACCOUNT | ECONOMIC CALENDAR | PIP VALUE CALCULATOR | FOREX FOR BEGINNERS

**Forex-Metal** · 06-06-2011, 19:34

IN THIS ISSUE:
1. Weekly market review from Forex-Metal.
2. Weekly technical analysis.
3. New local payment options will be available soon
4. Get a 30% trading bonus when you open a new account.
5. Representatives Wanted!
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WEEKLY REVIEW FOR 30.05 – 3. 06, 2011

On Monday the previous week New-Zealand dollar demonstrated a record-breaking maximum against the greenback. New-Zealand trade balance hit a record NZD 1.113 billion on Sunday, which pushed the national currency up on that day.
Euro was under pressure on Monday, as concerns over the deteriorating European situation with the Euro-zone budget, had a negative impact on the euro. The Prime Minister of Greece, George Papandreu, insisted on the approval of additional measures aimed to reduce the budget deficit. American and UK financial markets were closed on Monday, due to the celebration of the national holidays.
Euro-zone representatives supported the possibility that Greece would receive additional financial help in order to avoid spreading of the budget crises. The released European fundamentals rendered additional support to the euro on Tuesday. In particular, German retail sales annualized showed growth for 3.6% against the forecasted 1.5%. Unemployment decreased in Germany as well. Euro-zone unemployment stayed at the previous level. As a result, the EUR/USD grew and reached the $1.4400 maximums. Expectations for the increase of the ECB principal interest rate reinforced. At the same time the sterling followed the euro growth and reached the temporary maximums at the $1.6550 level.
It was announced on Tuesday that Moody’s credit agency would reconsider the credit rating of Japan for its possible reduction. Therefore, the Japanese yen dropped. The USD/JPY pair strengthened at the Y81.60 mark.
Investors’ optimism regarding the possibility of rendering additional financial support to Greece, pushed the oil prices higher. Canadian TransCanada pipeline leak increased concerns regarding the US oil inventories’ supply. Oil prices reached the $102.47 level per barrel. At the same time gold prices reached maximums at the $1540.80 mark per ounce.
According to the released information, the Bank of Canada left the principal rate unchanged at the previous level of 1.00%. After that the Canadian dollar rate grew against the greenback.
As concerns over the European budget crises weakened, the euro continued to strengthen during the morning trading on Wednesday. The EUR/USD pair traded in the range of $1.4380-$1.4440.
European trading session demonstrated some decrease of the euro against the greenback. European representatives could apply some measures aimed to stimulate debentures’ holders, according to the speculations. The GBP/USD pair traded in the range of $1.6440-$1.6480. But the released UK Purchasing Manager Index could not render any support to the national currency. The GBP PMI manufacturing dropped to 52.1 against the forecasted 54.1. As a result, the sterling rate decreased to the temporary minimum of $1.6380.

According to the Bloomberg publication, American congressmen decided not to increase the maximal limit of the national debt. As a result, speculations regarding the possible US default, reinforced. This default may be the first one in the US history. The greenback showed decrease after the release of the weak fundamentals. ISM manufacturing dropped to 53.5 against the forecasted 57.2. ADP employment growth was much lower expectations: 38K against the predicted 175K.
The EUR/USD pair showed considerable movement during the Thursday trading session. Euro was supported by the speech of German Chancellor, Angela Merkel, who said that “German economy growth had very positive forecast”. During the European trading session the EUR/USD grew to the maximums of $1.4490. The Spanish bond placing was successful, which was another factor of the euro strength. At the same time the strong UK fundamentals supported the sterling, and the GBP/USD pair grew and reached the $1.6420 mark. The PMI construction index happened to be above the forecast.
The USD/JPY pair showed maximums during the morning trading on Thursday at the level of ? Y81.30 and minimums at the Y80.66 mark. The yen was pressured on that day due to the reinforced concerns over the national political situation in Japan.

Negative US news release pressured the greenback, which showed decrease during the American trading session on Thursday. US Initial jobless claims increased above expectations. Moody’s agency mentioned that the US credit rating could be reconsidered. On the same day Moody’s credit agency reduced the rating of Greece to Caa1.
Swiss Franck reached its new maximum against the US dollar. The national Retail prices growth level supported the Swiss frank.
At the end of the week the EUR/USD pair traded at the $1.4600 maximums and the GBP/USD pair reached above the $1.6400 level.

Happy trading!
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WEEKLY REVIEW FOR 6 -10.06, 2011

EURUSD
The pair has risen to Median line at 1.46811. The pair may roll back to 1.44835 before continue rising.
Resistance: 1.47697, 1.50676, 1.54340
Support: 1.44835, 1.41130, 1.37441

GBPUSD
The pair is trading between Moving Averages (200) 1.65379 and (100) 1.59962.
Resistance: 1.64274, 1.68504, 1.72652
Support: 1.59962, 1.52523, 1.48532

USDCHF
The pair has declined to 0.82723. The pair may roll back to channel line at 0.85633.
Resistance: 0.85633, 0.88022, 0.91074
Support: 0.82723, 0.79957, 0.76882

USDJPY
The pair declined to 80.244. If this level is broken the pair will continue declining.
Resistance: 83.330, 86.836, 90.909
Support: 80.244, 76.535, 73.126

AUDUSD
The pair is trading between 1.07806 and 1.05810. If 1.05810 is broken the pair will decline to 1.03847.
Resistance: 1.07806, 1.09604, 1.11831
Support: 1.05810, 1.03847, 1.01873

________________________________________
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Later this month we will be adding a few local deposit options for Germany, Hungary, Italy, UK and a few other countries.
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We look forward to offering these new features and will update you in the next few days once these payment options are available.

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