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WEEKLY REVIEW FOR 3 - 7. 10, 2011
The uncertainty around the decision regarding the European stability fund continued to pressure the euro during the beginning of the previous trading week. Some of the European countries did not support the idea of the EFSF expansion, in particular, the Slovakian government was experiencing the split with this issue. According to the expectations, the ECB would not increase the interest rates during the next meeting. The released Euro-zone fundamentals did not render any support to the euro on Monday (even though the Euro-zone PMI indices turned out to be above expectations). As a safe-heaven currency, the American dollar strengthened on Monday.
Canadian dollar decreased against the major currencies, as concerns over the world economic recession reinforced. Possibility for the commodities’ prices drop grew, which pressured the Canadian dollar as well.
By the end of the trading day on Monday the EUR/USD dropped as low as the $1.3170 range. The threat of the Greek default became very real after the statement of the government of Greece regarding their inability to reduce expenses according to their agreement with foreign borrowers. As a result, investors started to get rid of the European assets. The GBP/USD pair decreased as well and reached minimums at the $1.5450 range. The USD/JPY pair dropped to the Y76.50 mark, as Japanese yen strengthened as a safe-heaven currency.
The EUR/USD pair showed minimums during the first half of Tuesday at the $1.3150 range. Concerns over the spreading of the European crises pressured investors. Market participants were discouraged by the fact that Euro-zone financial ministers did not confirm any decision regarding the new tranche for Greece. According to the released information, the decision for the new tranche would be accepted after October 13-th.
The Euro stabilized during the American trading session on the same day after the statement of Ben Bernanke, the Head of the FRS, who said that he was ready for additional measures to stimulate the economy. The EUR/USD reached the $1.3350 maximums.
In the meantime the Australian dollar decreased against the greenback after the announcement that the Reserve Bank of Australia left the principal rate unchanged at the level of 4.75%.
During the Asian trading session on Wednesday the Euro stepped a bit down after yesterday’s significant recovery against the US dollar. The EUR/USD pair traded in the range of $1.3261 - $1.3332. During the European trading session the couple strengthened at the $1.3375 area against the background of speculations relative to the fact that the European Union leaders examined the possibility of further measures aimed for limiting the negative impact of the current debt crisis on the bank system financial condition. The growth of the Euro was limited after the released information from Moody's Investors Service which decreased the credit rating of Italy from “Aa2” to “A2”. As a result, the EUR/USD pair retreated to its same day pivot level around the $1.3275 mark.
In terms of the released economic fundamentals, the pound dropped against the euro after the released UK report, which showed the economic growth slow-down during the second quarter. The pound decreased for 0.3% to the $1,5438 minimums. The US dollar strengthened against the yen after the published US business activity services index, which turned to be above the forecasted level in September.
On Thursday the EUR/USD pair traded in the narrow range of $1.332 - $1.335 due to the expectations for the decision of the European Central Bank on the interest rate. Before the start of the European session, in anticipation of a press conference with the ECB President Trichet, the Euro fell against major currencies and the EUR/USD couple recorded its same day low at $1.3242 level. The ECB, as expected, left interest rates unchanged at 1.50% and the EUR/USD pair strengthened to its daily highs at $1.3433 zone. Against the background of the speculations’ increase about whether European leaders reached an agreement that will halt the further spreading of the debt crisis in the region, the US Dollar rate decreased against the most major currencies on Thursday. The British Pound also traded with a decrease. The reason for that was the investors’ expectations that the Bank of England could announce its decision regarding some changes in the quantitative easing program. The Bank’s decision about leaving interest rates unchanged at 0.50% did not stress much the GBP/USD trading direction, while the increasing in volume of asset purchase program by 75 billion pounds to 275 billion pounds decreased the pair by more than 16 points to $1.5271 mark.
The demand for the precious metals increased on Thursday based on the fears that Europe's sovereign debt crisis would drag on the global economy, therefore, the Gold price strengthened and established it’s highs at the $1655 area.
By the end of the week the EUR/USD managed to increase to the $1.3500 range, and the GBP/USD reached the $1.5650 mark, supported by the released positive fundamentals. But the announcement regarding the reduction of the ratings of Spain and Italy by the ‘Fitch’ Agency pressured the euro and the pound, and the consecutive pairs dropped.
________________________________________
WEEKLY TECHNICAL ANALYSIS FOR 10 - 14. 10, 2011


EURUSD
The pair has nearly touched Fibonacci level 38% at 1.30370 and rolling back to Moving Average (200) at 1.37441.
Resistance: 1.37441, 1.41130, 1.44835
Support: 1.33427, 1.28800, 1.25667


GBPUSD
The pair has reached Fibonacci 23%. 1.53419 and rolled back.
Resistance: 1.59962, 1.64274, 1.68504
Support: 1.52523, 1.48532, 1.43344


USDCHF
The pair is aiming to Fibonacci 50% and Moving Average (100) at 0.95470.
Resistance: 0.93264, 0.96597, 0.99031
Support: 0.91074, 0.88022, 0.85633


USDJPY
The pair has declined to support level at 76.535 and if the pair stays below this level the pair will decline to 73.126.
Resistance: 80.244, 83.330, 86.836
Support: 76.535, 73.126, 69,117


AUDUSD
If the pair stays above Moving Average (100) at 0.97417 the pair will rise to 1.00031.
Resistance: 1.00031, 1.01873, 1.03847
Support: 0.97889, 0.94417, 0.89581




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WEEKLY REVIEW FOR 10 - 14. 10, 2011
Previous trading week demonstrated a considerable strengthening of the euro. One of the reasons for this rally on the first day of the week was based on the fact that France and Germany announced of the reached consensus in terms of providing support to the European banks. The maximum level has been reached at the $1.36989 mark by the EUR/USD pair on Monday. Meanwhile the US Dollar dropped against its main competitors against the background of the main stock indices stabilization. The sterling showed a rapid growth on Monday as well as the euro. The GBP/USD pair reached the $1.5663 during the Asian session, and the European maximum has been reached already at the $1.5892 mark.
The euro dropped on Tuesday in the threshold of the voting at the Slovakian Parliament regarding the European Financial Support Fund expansion. As a result, the euro decreased and the EUR/USD pair temporarily dropped to the $1.3574 minimums. Due to the fact that the European summit has been postponed, the US dollar strengthened against the major currencies against the background of the decreased stock markets.
The released on the same day Business Conditions index from the National Bank of Australia happened to be positive, while its previous level was negative. Therefore, the Australian dollar managed to reach parity with the greenback again.
During the European session on Wednesday the EUR/USD pair showed increase up to the $1,3800 level. Released Euro-zone fundamentals supported the rapid growth of the euro. The industrial production figure turned out to be above the forecast (5.3% against the expected 2.1%). The EUR/USD maximums were reached at the $1.3815 mark. The US dollar lost its previously won positions as the demand for the save-heaven currencies decreased. Greenback weakened against its major competitors in the threshold of the FOMC meeting minutes publication as well.

The USD/JPY pair traded around the Y76.70 mark. Its maximum has been reached at the Y77.47 level.
After the euro’s rapid growth on Wednesday, associated with the fact that Slovak political parties agreed to approve the extension of the stabilization fund EFSF, the Euro consolidated near the $1.38 level during the first part of Asian trading session on Thursday. After the published German GDP forecast, which showed a decrease to 0.8% in 2012 versus its growth in 2011 to 2%, the Euro currency fell to $1.370 zone and had recorded its daily low at $1.3685 mark.
The Australian Dollar grew against the greenback after the Australian unemployment report which showed the 5.2% against the forecasted 5.3% in September.
The strengthening of the US Dollar held in control the demand for the precious metals as alternative assets, therefore the Gold fell on Thursday and hit the lows of $1652 per ounce before the beginning of the American trade session.
At the end of the week the GBP/USD managed to strengthen above the $1.58 level, and the USD/JPY closed the week above the Y77 mark.
________________________________________
WEEKLY TECHNICAL ANALYSIS FOR 17 - 21. 10, 2011



EURUSD
The pair has risen to Moving Average (100) 1.38517.
Resistance: 1.41130, 1.44835, 1.47697
Support: 1.37441, 1.33427, 1.28800


GBPUSD
The pair may try to reach Moving Average (100) at 1.59962.
Resistance: 1.59962, 1.64274, 1.68504
Support: 1.52523, 1.48532, 1.43344


USDCHF
The pair is trading between two Fibonacci levels of 50% 0.93264 and 38% 0.88022.
Resistance: 0.91074, 0.93264, 0.96597
Support: 0.88022, 0.85633, 0.82723


USDJPY
The pair has declined to support level at 76.535 and if the pair stays below this level the pair will decline to 73.126.
Resistance: 80.244, 83.330, 86.836
Support: 76.535, 73.126, 69,117


AUDUSD
The pair’s resistance is 1.03847, the pair’s support is 1.01873.
Resistance: 1.03847, 1.05810, 1.07806
Support: 1.01873, 1.00031, 0.97889




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3. Visit a free forex news portal at fx2day.net
4. Get a 35% trading bonus when you open a new account.
6. Representatives Wanted!
________________________________________
WEEKLY REVIEW FOR 17 - 21. 10, 2011
Last week the US dollar weakened against most of its competitors.
In the beginning of the week the decline in the stock market indices supported the US Dollar on Monday. The euro fell against the Japanese yen and US dollar during the Asian trading session (minimum of $1.3822 during this session). Much of this negative rally was caused by the profit fixation of the long positions. The Euro continued falling down through all European session as well ($1.3739 lows) because the investors and traders were not encouraged by the results of the G20 summit, which ended in Paris during the weekend. None of the specific measures to resolve the current crisis have been proposed at this summit. The pound dropped against the dollar and the yen amid existing fears that additional incentives of the Bank of England would not be enough to revive economic growth. The GBP/USD pair has shown minimums in area of $1.5730 during the European trading session.
The yen strengthened slightly against the US Dollar on Monday against the background of the situation in the EU. During the Asian trading session the USD/JPY pair showed its daily high in the area of Y77.45, but later during the European trading session the pair dropped steeply and set the low of this day at Y76.595 level.
During the second part of the day on Monday commodity currencies (Canadian, New Zealand and Australian dollars) updated daily minimums against the United States dollar. The British pound fell for the first time in four days against the dollar after Ernst & Young agency reduced the growth forecast for the UK.
On Tuesday the euro managed to grow against the US dollar and the Japanese yen. At the same time, speculations regarding possible credit rating reduction of France pressured the euro on Tuesday. As a result, the EUR/USD pair showed minimums in the range of $1,3657. The euro managed to rehabilitate after the announcement of the German Chancellor Angela Merkel. She stated that the European leaders’ Summit, planned for October 23-d, could offer the support plan for the European union. As demand for the high-risk assets increased, the Australian, New-Zealand and Canadian dollars grew.
During the Asian and European trading sessions on Wednesday the euro strengthened against the background of publication of the report regarding the fact that France and Germany have agreed to increase European financial stability Fund up to 2 trillion euros. As a result, the EUR/USD pair showed its daily maximum at around $1.3868 but then retreated. The dollar stepped back against its competitors amid the falling demand for safe haven assets due to the strengthening of the major stock markets in Europe and Asia and the futures growth on major U.S. stock indices.
The pound briefly fell against major currencies after the publication of the protocol of the last meeting of the Bank of England, the GBP/USD pair set its daily lows at $1.5709. The sterling was pressured due to the fact that monetary policy committee members were unanimous in voting for the increase in QE at 75 billion Stg. However, the GBP/USD pair grew on Wednesday to the area of $1.5746.
Euro decreased to $1.3731 when lawmakers rejected direct guarantees to EFSF fund. Gold fell on the same day amid reports that France and Germany were close to agreement on increasing the size of EFSF 2 ??trillion euro, which resulted in lower demand for gold as a way to protect capital.
During the Asian trading session on Thursday the euro continued its yesterday's negative rally to the $1.3675 area. The disagreements between France and Germany regarding the concept of the European financial help fund increase pressured the euro. However, during the European session the euro rose against major currencies due to the growing optimism about a possible resolution of the situation with the debt crisis in Europe. The EUR/USD pair rose above the $1.3830 area and set its daily high at $1.3841 level.
The published UK retail sales report which surprisingly grew by 0.6% in September, against the forecasted decrease of -0,1%. The GBP/USD pair strengthened in a region of $1.5803.
Against the background of increased demand for the currency with the status "safe haven", the Swiss Franc revealed its maximum growth against most of major currencies on Thursday. In particular, the Swiss Frank grew for the first time in three days against the euro, showing an increase of 1%.
Dollar showed increase against the yen for the first time in four days, since the Philadelphia production index grew more than it was expected.
By the end of the week the EUR/USD pair traded at the $1.39 level, the GBP/USD grew and reached the end of the week at the $1.5960 mark.
________________________________________
WEEKLY TECHNICAL ANALYSIS FOR 24 - 28. 10, 2011



EURUSD
The pair has risen to Moving Average (100) 1.38517 and trying to rise to Fibonacci 23% at 1.42036.
Resistance: 1.41130, 1.44835, 1.47697
Support: 1.37441, 1.33427, 1.28800


GBPUSD
The pair is aiming to Moving Average (100) at 1.59962.
Resistance: 1.59962, 1.64274, 1.68504
Support: 1.52523, 1.48532, 1.43344


USDCHF
The pair is trading between two Fibonacci levels of 50% 0.93264 and 38% 0.88022. If the pair breaks 0.88022 the pair may decline to 0.82723.
Resistance: 0.91074, 0.93264, 0.96597
Support: 0.88022, 0.85633, 0.82723


USDJPY
The pair has declined to support level at 76.535 and if the pair stays below this level the pair will decline to 73.126.
Resistance: 80.244, 83.330, 86.836
Support: 76.535, 73.126, 69,117


AUDUSD
The pair’s resistance is 1.03847 if the pair breaks this level the pair will rise to 1.05810.
Resistance: 1.03847, 1.05810, 1.07806
Support: 1.01873, 1.00031, 0.97889



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________________________________________
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A new bonus promotion has started. If you are just about to fund your trading account for a first time you may be eligible for a 35% bonus or maximum of $15,000. The full bonus conditions are available at https://forex-metal.com/discount/bonus35.
If you would like to take advantage of this new promotion please contact our support team at [email protected] .

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.
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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.

________________________________________
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4. Get a 35% trading bonus when you open a new account.
6. Representatives Wanted!
________________________________________
WEEKLY REVIEW FOR 24 - 28. 10, 2011
Reinforced optimism of the market participants enabled the euro to strengthen against the US dollar last week.
During the Asian trading session on Monday the euro was rising against the US dollar against the background of European leaders’ promises that they would agree on an action plan to constrain the EU debt crisis. At the same time the euro was pressured on Monday by the report on business activity in manufacturing and service sectors of the countries of the region and the EU as a whole, which was published during the European trading session. Even the positive report on the EU industrial orders, which turned to be higher in August than its forecast and annually recorded 6.2 % vs. forecasted 5.8 %, did not support the euro and the EUR/USD pair set its daily lows of the $1.3820 mark.

On Monday the investors’ attention was focused on the Japanese yen. After its growth to a record high against the US dollar on previous Friday the likelihood of intervention increased. The pair set its daily lows at Y75.981 which was close to its August low.
The demand for the dollar, as a save-heaven currency, decreased on Monday. The greenback dropped against the main currencies. Positive corporate reports and commodity prices growth supported this trend.
During both trading sessions the euro was trading in a narrow range near its six-week high against the US Dollar amid expectations of the EU countries’ summit. The EUR/USD pair’s range was between $1.3850 and $1.3950 zone. Investors were still look forward with caution awaiting a specific plan to constrain the debt crisis in the EU.

The kiwi dropped against the US Dollar when the statistics agency of New Zealand reported an increase in the Consumer Price Index in Q3 by 0.4% compared with the previous quarter. This growth was below the average forecast of 11 economists, according to which the index should rise by 0.7%.

Another reason for the US Dollar decrease during the American trading session was the statistics which had been published before the US Stock market opening. Consumer confidence index in October dropped from 45.4 points to 39.8, when it was expected to increase to 46 points; In addition, the S&P/Case-Shiller index of housing prices decreased over the 20 US metropolitan regions.

After the Bank of Canada reported that the economy of Canada would grow slower than expected, and kept the interest rate unchanged at 1%, the Canadian dollar fell for the first time in four days against the U.S. dollar.
Australian dollar continued to decrease for a couple of days against most major currencies after the released slowdown in consumer prices in Australia. Investors forecasted that the Reserve bank of Australia would decrease the interest rates.

Japanese currency continued strengthening despite of the speech of the finance minister of Japan, Mr. Azumi, who stated that the Bank of Japan would take “decisive” measures in order to stop the increase of the yen.

Euro dropped against the US dollar on Wednesday as the negotiations regarding the write-off the Greek debts by the bonds’ holders did not have any result, which reinforced the uncertainty of the European crises situation. British pound decreased against the greenback as well (set daily lows at $1.5889) after the released CBI Trends total orders, which showed the most serious drop in 2 years. Canadian dollar demonstrated its strong growth against the US dollar and the euro against the background of the released data on the US durable goods orders, since the US is the leading Canadian trade partner.
During the Asian trading the euro showed dynamic growth on Thursday, which was supported by the results of the EU summit. The reached agreement meant enlargement of the stabilization fund of the EU countries to $1 trillion from the current EUR 440 billion and it also involved the cancellation of 50% of the nominal value of Greek debt to private creditors. The EUR/USD pair was rising during both sessions and climbed to its pick of $1.4220 area. Rising risk appetites led to the decline of the US Dollar against all types of assets. Decreased demand for the safe haven currencies and stock markets rising pressured the US Dollar during all day.
Meanwhile the Japanese yen continued to strengthen, despite the fact that the Bank of Japan decided to enlarge the program of asset purchases by 5 trillion yen. The USD/JPY pair confirmed its new lows at Y75.653 area.

The EUR/USD pair closed the week below the $1.42 level, the GBP/USD pair closed the week around the $1.61 mark.

________________________________________
WEEKLY TECHNICAL ANALYSIS FOR 31.10 - 4. 11, 2011


EURUSD
The pair has reached Fibonacci 23% at 1.42036 and rolling back to 1.37441.
Resistance: 1.41130, 1.44835, 1.47697
Support: 1.37441, 1.33427, 1.28800

GBPUSD
The pair has tested Moving Average (100) at 1.59962.
Resistance: 1.59962, 1.64274, 1.68504
Support: 1.52523, 1.48532, 1.43344

USDCHF
If the pair stays below 0.88022 the pair may decline to 0.82723.
Resistance: 0.88022, 0.91074, 0.93264
Support: 0.85633, 0.82723, 0.79957

USDJPY
The pair is trying to rise to resistance level at 80.244.
Resistance: 80.244, 83.330, 86.836
Support: 76.535, 73.126, 69,117

AUDUSD
The pair has declined below 1.05810 it may bring pair to support level 1.03847.
Resistance: 1.05810, 1.07806, 1.09604
Support: 1.03847, 1.01873, 1.00031



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________________________________________
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A new bonus promotion has started. If you are just about to fund your trading account for a first time you may be eligible for a 35% bonus or maximum of $15,000. The full bonus conditions are available at https://forex-metal.com/discount/bonus35.
If you would like to take advantage of this new promotion please contact our support team at [email protected] .

Don't have an account yet? Maybe it is time to open one?
Open the new trading account here https://forex-metal.com/accounts/new_2 to be eligible for this and other great promotions.
. 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.

________________________________________
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https://forex-metal.com/newsletters/257
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WEEKLY REVIEW FOR 31.10 - 4. 11, 2011

Last week demonstrated a rather diverse trading dynamics of the major currencies. On Monday the euro dropped against the main currencies after the release of the unemployment in Italy and in the EC in a whole. Employment volume turned out to be much worse than expected. Both sessions the EUR/USD pair traded in the range of $1.4118-$1,3906. US dollar grew against the background of the increased demand for the safe-haven assets and decreased world stock indices.

The yen dropped on the same day against the US dollar after the intervention by the Japanese government, aimed to weaken the national currency. The USD/JPY pair marked its highs at Y79.50 and then reduced to Y78,03.

Speculations regarding the slow-down of the European growth and concerns that the ECB would reduce the interest rate during the next meeting continued to pressure the euro on Tuesday as well. Investors were pressured by the discouraging information from Greece. The prime Minister of Greece announced of his intentions to introduce the previous anti-crises measures to a referendum. Other Greek politicians showed negative reaction to this announcement, and the euro dropped. As a result, the EUR/USD decreased by 200 points, while in the beginning of the day the rate was at the $1.3850 level. And the announcement of the American derivatives broker MF Global, who informed about their bankruptcy, had a negative influence on the investors’ trading activity.

During the Asian and European trading sessions on Wednesday, the euro showed correction after Tuesday's decline against the US dollar, setting its daily high at $1.3827 level. The rumours were pressuring the markets, that the European Financial Stability Fund (EFSF) may delay the planned 3-billion-dollar bond issue because of unfavourable market conditions.

At the same time the US dollar fell against 11 of the 16 major currencies, amid expectations for not very positive economic statistics from the US. Speculations that the FRS would signal with its willingness to proceed with the purchase of assets or launch another program of quantitative easing pressured the greenback as well.

Oil rose for the first time in four days after the release of statistical data on U.S. employment and oil reserves, and a weakening of the US dollar ahead of Fed statement. The cost of the December futures on U.S. light crude oil WTI (Light Sweet Crude Oil) in trading in New York rose to 93.74 dollars per barrel.

US dollar compensated its losses against the Euro after the Federal Reserve increased its estimation of the economy. The statistics of the market for employment published on Wednesday also showed support to the dollar.

During the Asian trading session the euro fell by 0.8% from the three-week low against the dollar on Thursday. The ECB meeting was in focus of the market participants, which was a first meeting for the new president of the central bank Mario Draghi, who replaced Jean-Claude Trichet on November 1. The European Central Bank unexpectedly lowered the discount rate by 25 basis points to 1.25% level. The EUR/USD pair steeply fell after this report to its daily low at $1.3658 area. Later on the euro rose against the dollar after the Greek Prime Minister George Papandreou announced that the referendum would not be held and thus reduced investor’s tension over the possible default of his country. Therefore, the EUR/USD pair strengthened to $1.3855 area.

The FRS interest rate was left at the previous range of 0,00%-0,25%, and in Australia the rate was reduced from 4,75% to 4,50%.

________________________________________
WEEKLY TECHNICAL ANALYSIS FOR 7.11 - 11. 11, 2011



EURUSD
The pair has reached Fibonacci 23% at 1.42036 and rolling back to 1.37441. If 1.37441 is broken he pair will decline to 1.33427.
Resistance: 1.41130, 1.44835, 1.47697
Support: 1.37441, 1.33427, 1.28800

GBPUSD
The pair has tested Moving Average (100) at 1.59962. If the pair stays below this level the pair will decline to Fibonacci 23% at 1.53340.
Resistance: 1.59962, 1.64274, 1.68504
Support: 1.52523, 1.48532, 1.43344

USDCHF
The pair is trying to stay above 0.88022 this will bring pair to test resistance at 0.91074.
Resistance: 0.91074, 0.93264, 0.96597
Support: 0.88022, 0.85633, 0.82723

USDJPY
The pair has tested resistance level at 80.244 and rolled back 78.119.
Resistance: 80.244, 83.330, 86.836
Support: 76.535, 73.126, 69,117

AUDUSD
The pair has declined to 1.03847. If the pair stays below this level the pair will decline to 1.01873.
Resistance: 1.05810, 1.07806, 1.09604
Support: 1.03847, 1.01873, 1.00031




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________________________________________
GET A 35% TRADING BONUS WHEN YOU OPEN A NEW ACCOUNT.
A new bonus promotion has started. If you are just about to fund your trading account for a first time you may be eligible for a 35% bonus or maximum of $15,000. The full bonus conditions are available at https://forex-metal.com/discount/bonus35.
If you would like to take advantage of this new promotion please contact our support team at [email protected] .

Don't have an account yet? Maybe it is time to open one?
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. 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.

________________________________________
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[Forex-Metal]

Forex-Metal launches a new exclusive Facebook application to allow traders to open trading accounts directly from Facebook. “People spend more and more time on social networks. We know that many forex traders are avid Facebook users, so we wanted to provide them with the ability to instantly open a trading account from within a familiar Facebook setting”, says Betty Snyder, Forex-Metal Marketing Manager.
Three easy steps one needs to follow to open a trading account with Forex-Metal from Facebook and receive account details faster than ever before is to “Like” the Company’s Fan Page, follow the application link, and fill out an online form. The first deposit qualifies for a generous 35% bonus (up to $15,000 per customer).
“Open New Account” application is an important addition to the Company’s already extensive collection of other social and mobile applications, including ContactMe application that gives Facebook users the convenience of contacting the company’s customer support right from their Facebook accounts; Forex-Metal MT4 iTrader and Forex-Metal droidTrader, allowing Forex-Metal clients to access forex and CFD trading anywhere using their iPhone, iPads, and Android devices; Forex Pip Value Calculator application, compatible with iPhone, iPod Touch, and iPad. The Company has also developed affiliate links, adapted for mobile devices and introduced forex news websites, specifically designed and optimized for mobile devices: fxnews.mobi, tech.fxnews.mobi, and fund.fxnews.mobi.
Forex-Metal is dedicated to providing the superior trading experience and continually improves its services. Join Forex-Metal on Facebook at http://www.facebook.com/ForexMetalBroker to be a part of the growing forex trading community.

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

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IN THIS ISSUE:

1. Weekly market review from Forex-Metal.
2. Weekly technical analysis.
3. Visit a free forex news portal at fx2day.net
4. Get a 35% trading bonus when you open a new account.
6. Representatives Wanted!
________________________________________
WEEKLY REVIEW FOR 7.11 - 11. 11, 2011

During the previous week the euro was under pressure against major currencies due to concerns of market participants about the political instability in Italy. Another negative factor was a released report on industrial production in Germany on Monday, which showed a big slowdown in September by 2.7% versus forecasted -0,9 %.

On the other hand, the euro retreated from its daily lows at $1.3682 on the same day against the US Dollar amid speculation that the Italian Prime Minister Berlusconi may soon resign. Supported by those rumours the EUR/USD pair strengthened and reached the $1.3812 area and remained trading around this level in spite of the fact that Berlusconi himself had actually denied those speculations. At the same time the GBP/USD pair traded around its November highs at $1.6040 area, which confirmed the willingness of investors to buy the British currency as a sort of alternative investments.

After the meeting of the Italian President and the Prime Minister Berlusconi, it was announced that the Prime Minister would resign. This lead to the growth of the euro against the US dollar on Tuesday.

Canadian dollar grew against the major 16 currencies after the three-months’ maximum which was reached by the oil.

Euro decreased on Wednesday during the Asian and European sessions because the hope for resolving the political and debt problems in Italy and Greece were not justified. The EUR/USD pair steeply fell to the area of ??$1.3605 area. The US dollar strengthened against the majority of its main competitors, because of the increased demand for “safe-haven” status currencies. And the GBP/USD pair fell below the $1.5940 mark.

The yen rose against most currencies, despite of the fact that the BOJ promised to weaken its national currency. The USD/JPY pair traded in the Y77.52 - Y77.75 range. Traders continued to see the yen as a safe-haven currency.

The New Zealand dollar fell against major currencies on Wednesday after the slowdown in consumer prices and industrial production in China.

The Euro rose against major currencies and partially rehabilitated some of its yesterday losses on Thursday. The EUR/USD pair grew above the mark of $1.3650. The EUR was supported by the fact that the ECB began to buy Italian government bonds.

The Japanese yen strengthened against most of its major partners, as traders continued to consider its save–heaven status. During the both trading sessions the USD/JPY pair traded in the range of Y77,55 - Y77,85.

Meanwhile the Canadian dollar fell to its lowest level in three weeks against the US Dollar due to the growth of the U.S. dollar as the " safe haven " currency.

Investors' fears regarding the debt crisis decreased after the S & P agency confirmed that the credit rating of France, the second largest economy in the region, remained at AAA. Euro recovered from its lows against the US dollar.

During the last day of the week, the release of the positive news from Europe supported the euro. The new Prime Minister of Greece, Lukas Papadimas, took an oath on Friday and in Italy a new bill aimed to reduce the debt has been approved. As a result, the EUR/USD pair reached the $1.37 level and the GBP/USD grew to the $1,60 mark.

________________________________________
WEEKLY TECHNICAL ANALYSIS FOR 14.11 - 18. 11, 2011




EURUSD
If 1.37441 is broken the pair will decline to 1.33427.
Resistance: 1.41130, 1.44835, 1.47697
Support: 1.37441, 1.33427, 1.28800

GBPUSD
The pair has tested Moving Average (100) at 1.59962. If the pair stays below this level the pair will decline to Fibonacci 23% at 1.53340.
Resistance: 1.64274, 1.68504, 1.72652
Support: 1.59962, 1.52523, 1.48532

USDCHF
The pair is trying to stay above 0.88022 this will bring pair to test resistance at 0.91074.
Resistance: 0.91074, 0.93264, 0.96597
Support: 0.88022, 0.85633, 0.82723

USDJPY
The pair has tested resistance level at 80.244 and may roll back to 76.535.
Resistance: 80.244, 83.330, 86.836
Support: 76.535, 73.126, 69,117

AUDUSD
The pair has broken 1.03847 and aiming to 1.01873.
Resistance: 1.03847, 1.05810, 1.07806
Support: 1.01873, 1.00031, 0.97889




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________________________________________
GET A 35% TRADING BONUS WHEN YOU OPEN A NEW ACCOUNT.
A new bonus promotion has started. If you are just about to fund your trading account for a first time you may be eligible for a 35% bonus or maximum of $15,000. The full bonus conditions are available at https://forex-metal.com/discount/bonus35.
If you would like to take advantage of this new promotion please contact our support team at [email protected] .

Don't have an account yet? Maybe it is time to open one?
Open the new trading account here https://forex-metal.com/accounts/new_2 to be eligible for this and other great promotions.
. 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]

IN THIS ISSUE:

1. Weekly market review from Forex-Metal.
2. Weekly technical analysis.
3. Get a 35% trading bonus when you open a new account.
4. Representatives Wanted!
________________________________________
WEEKLY REVIEW FOR 14.11 - 18. 11, 2011
During the past week, the negative economic statistics and general uncertainty in the EU provided a lot of pressure on European currencies (EUR and GBP).

At the beginning of the week, the Euro was under pressure against the major currencies because of the results of the Spanish and French government bonds’ auctions. Furthermore, another negative signal to market participants had the auction on Tuesday on 10-year-old Italian government bonds, the yield of which exceeded the critical level of 7%.
Appointment of the new Prime Minister's Mario Monti did not give confidence to market participants. The pressure on Euro increased as a result of the reinforced concerns that Italy and Greece would be able to handle the existing debt problems.

The statistics, which came from Germany was also negative - the released publication of the indices of the business environment of the ZEW institute in Germany and in the EU as a whole. The values of both indicators for November were significantly worse than expected: Index of economic expectations fell compared to October by 7.9 points to -59.1 points and ZEW in November dropped to 34.2 points versus forecasted 32.0 points. The EUR/USD pair had a definite down day setting new lows at $1.3512 during the European trading session.
The GBP/USD pair got hammered in the beginning of the week and fell to the region of $1.5920. The reason for that was the statement of Charter institute of personnel and development which stated that its index of hire of Great Britain fell to - 3 in the fourth quarter versus - 1 in the previous quarter. The new minimums were set at the lows of $1.5812 area.
The pound also dropped after the released statistics which showed unemployment rate growth in Great Britain. In particular, in October the number increased by 5.3 thousands when the forecast was at 21.0.The British pound weakened against the dollar after the Bank of England lowered forecasts for economic growth and inflation, as expected, signaling the introduction of a new fiscal stimulus in the coming months.
But after the publication of the report on retail sales in the UK, the British Pound showed an increase against the US dollar and strengthened to $1.5800 area. The retail sales grew in October and exceeded the expectations (+0.9 % y/y vs. -0.2 %).
The Euro slightly recovered against the U.S. dollar after falling to a new 5 - week low at $1.3422 in early Asian trading. Furthermore, the Euro was under pressure against the major currencies because of the results of the Spanish and French government bonds’ auctions. The EUR /USD pair traded today in the $1.3422 - $1.3537 range.
The Swiss franc dropped against the U.S. Dollar after the release of statistics showing that the producer and import price index in October fell by 1.8% over the previous year.
According to the released information, the interest rate in Japan has been left without changes at the previous level of 0,10%. During the whole week the USD/JPY pair traded in the range of Y76,50 - Y77,20.

________________________________________
WEEKLY TECHNICAL ANALYSIS FOR 21.11 - 25. 11, 2011





EURUSD
The pair has broken 1.37441 and aiming to 1.33427.
Resistance: 1.37441, 1.41130, 1.44835
Support: 1.33427, 1.28800, 1.25667


GBPUSD
The pair stays below 1.59962 and may decline to Fibonacci 23% at 1.53340.
Resistance: 1.59962, 1.64274, 1.68504
Support: 1.52523, 1.48532, 1.43344


USDCHF
The pair is trying to stay above 0.91074 this will bring pair to test resistance at 0.93264.
Resistance: 0.93264, 0.96597, 0.99031
Support: 0.91074, 0.88022, 0.85633


USDJPY
The pair is rolling back to 76.535.
Resistance: 80.244, 83.330, 86.836
Support: 76.535, 73.126, 69,117


AUDUSD
The pair has reached 1.00031 and declining to the Moving Average (100) at 0.97889.
Resistance: 1.00031, 1.01873, 1.03847
Support: 0.97889, 0.94417, 0.895581



________________________________________
GET A 35% TRADING BONUS WHEN YOU OPEN A NEW ACCOUNT.
A new bonus promotion has started. If you are just about to fund your trading account for a first time you may be eligible for a 35% bonus or maximum of $15,000. The full bonus conditions are available at https://forex-metal.com/discount/bonus35.
If you would like to take advantage of this new promotion please contact our support team at [email protected] .

Don't have an account yet? Maybe it is time to open one?
Open the new trading account here https://forex-metal.com/accounts/new_2 to be eligible for this and other great promotions.
. 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]

IN THIS ISSUE:

1. Weekly market review from Forex-Metal.
2. Weekly technical analysis.
3. Our Holidays Schedule
3. Get a 35% trading bonus when you open a new account.
4. Representatives Wanted!
________________________________________
WEEKLY REVIEW FOR 21.11 - 25. 11, 2011
Previous week was a week of the strong dollar, as a save-heaven currency.
On Monday the expectations for the weak macro-economic data of the EU region pressured the Euro currency (in particular, the expected further decline of the German Ifo indicator and the PMI index). The EUR /USD pair fell to the area of ??$1.3428. Later, during the second part of the European trading session, the EUR/USD pair was able to partially recover to $1.3475 area, but the pressure still remained. The GBP/USD pair dropped below $1.5650 level to its daily lows at $1.5612 area. The main reason for that was the released announcement of the British Prime Minister Cameron who stated today that during the next week the Government would present the scale scheme of credit easing, as Great Britain must address the problem of its own debt.
At the same time the US Dollar buyers were supported by decreasing European stock markets and the negative dynamics of major U.S. futures. Concerns regarding the situation in EU provided support for the dollar as the currency with the safe haven status.
On Monday the Japanese Yen rose against the majority of currencies. The demand for safe assets increased against the rumours that the Democratic Party committee of the American Congress probably won’t be able to agree on the reduction of deficiency in US. The USD/JPY pair traded between Y76,75-Y76, 98 levels.
On Tuesday the Euro recovered against most major competitors after the credit rating agency Moody's confirmed the U.S. credit rating at the AAA level. The EUR/USD pair continued rising and recorded its highs at the $1.3566 area, even despite the fact that a representative of the German authorities said that Germany had no additional plans to address the EU debt crisis.
The US dollar retreated against the major currencies amid positive dynamics in the main European stock markets and US indices’ futures and decreasing demand for safe-haven assets.
After the announcement of IMF Board’s approval of two new credit packages for increasing the credit available to fight the spreading of the debt crises, the Euro and other risky assets had a push to grow.
The euro dropped below the $1.3450 level against the U.S. dollar on Wednesday amid expectations that the credit rating of AAA for France could be affected by the released information from the Belgian newspaper De Standard. The source reported that the planned bailout of the Dexia SA bank was not possible, because Belgium did not provide a consistent share of funding. Another negative reason that threw the EUR/USD pair to the $1.3375 level was a report, that showed an unexpectedly significant reduction in industrial orders in the EU. In detail, the Septembers’ orders fell by 6.4% against the forecasted value of -2.7%

Meanwhile the dollar rose against major currencies against the backdrop of increased demand for safe assets due to the negative dynamics of the world's major stock indices. Stock indices declined due to pessimism that has become dominant in the markets after the U.S. and China macroeconomic data. The U.S. GDP for third quarter revision recorded 2.0 % level and it was lower than the preliminary data showed (2.5%), and lower than analysts had expected (2,3%). PMI in the manufacturing sector of China in November 2011 fell to 48 points from 51 points in October.

On the same day the Canadian dollar grew against most of the major currencies after the release of the Retail Sales report, which grew in September rapidly, and increased the forecasts for the economic growth of the country. And the Australian dollar was under pressure due to the concerns over the situation in Euro-zone.
At the beginning of Asian trading session on Thursday the Euro rose against major currencies supported by the demand of investors for the European region assets. One of the reasons for that increase was the positive report of German GDP which recorded the same +0.5% (QoQ) and +2.6% (YoY) as per the forecast. Another reason was the released data that showed that the business climate index in Germany calculated by IFO Institute as the results of November grew to the level of 106.6 points versus forecasted 105.5. During the European session the EUR/USD pair traded in the $1.3356 - $1.3410.
U.S. financial markets were closed on Thursday due to a National holiday, Thanksgiving Day.

At the end of the week the EUR/USD dropped below the $1.3250 level, and the British Pound decreased for more than 300 points and traded around the $1.5450 mark.

________________________________________
WEEKLY TECHNICAL ANALYSIS FOR 28.11 - 2. 12, 2011






EURUSD
The pair has declined to 1.33427. If the pair stays below this level the pair will decline to the Moving Average (500) at 1.28800.
Resistance: 1.37441, 1.41130, 1.44835
Support: 1.33427, 1.28800, 1.25667

GBPUSD
The pair stays below 1.59962 and may decline to Fibonacci 23% at 1.53340.
Resistance: 1.59962, 1.64274, 1.68504
Support: 1.52523, 1.48532, 1.43344

USDCHF
The pair is trying to stay above 0.91074 this will bring pair to test resistance at 0.93264.
Resistance: 0.93264, 0.96597, 0.99031
Support: 0.91074, 0.88022, 0.85633

USDJPY
The pair is rolling back to 76.535.
Resistance: 80.244, 83.330, 86.836
Support: 76.535, 73.126, 69,117

AUDUSD
The pair has reached Moving Average (100) at 0.97889. If the pairs stays above 0.97889 then the pair will rise to 1.00031.
Resistance: 1.00031, 1.01873, 1.03847
Support: 0.97889, 0.94417, 0.895581



OUR HOLIDAYS SCHEDULE
The Holiday period is fast approaching. Many countries will be celebrating Christmas and New Year, so banks and stock exchanges will not be operating at that time. We of course also will be closed for a few days during this period.
We will close on Friday, 23rd of December 2011 as usual and will reopen on Wednesday, 28th December 2011 at 9am GMT.
We then will close again on 30th December 2011 and re-open on Tuesday 3rd January 2012.
We wish everyone a save and happy holiday period and a prosperous year 2012.

________________________________________
GET A 35% TRADING BONUS WHEN YOU OPEN A NEW ACCOUNT.
A new bonus promotion has started. If you are just about to fund your trading account for a first time you may be eligible for a 35% bonus or maximum of $15,000. The full bonus conditions are available at https://forex-metal.com/discount/bonus35.
If you would like to take advantage of this new promotion please contact our support team at [email protected] .

Don't have an account yet? Maybe it is time to open one?
Open the new trading account here https://forex-metal.com/accounts/new_2 to be eligible for this and other great promotions.
. 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]

IN THIS ISSUE:

1. Weekly market review from Forex-Metal.
2. Weekly technical analysis.
3. Our Holidays Schedule
3. Get a 35% trading bonus when you open a new account.
4. Representatives Wanted!
________________________________________
WEEKLY REVIEW FOR 28.11 - 2. 12, 2011
Previous week showed a confident strengthening of the high-risk currencies.
On Monday after the TV news on France24 channel, the Euro strengthened against its competitors already during the Asian session. The EUR/USD pair jumped to $1.3292 level and then went to its daily high of 1.3396 during the European trading session. The news contained the information about the emergency credit to Italy that was offered by International Monetary Fund (IMF). The credit, whose size can range from 400 to 600 billion Euro might be given with the discounted interest rate on it - from 4% to 5 %. However, when this information was denied by official from the IMF the euro gave up its earlier positions. The attention of the market participants was also focused on the yield’s dynamics of the European countries’ bonds during the auctions that were held in Italy, Belgium and France.
The New Zealand dollar rose versus 16 major currencies after Prime Minister John Key was re-elected for another term.

Euro demonstrated growth on Tuesday as well due to the expectations for the meeting of the EC Ministers of Finances. Investors were looking forward to the set up plan for the expansion of the EFSF opportunities. The Italian Government bond auction, which showed positive results, supported the euro as well.
At the same time according to the released information, the US Consumer confidence index in November showed a sharp increase to 56 points. The Fitch Ratings reduced its US debt rating to a negative level, which pressured the American dollar.
British Pound showed its big move during the European trading session on Tuesday rising to $1.5655 from $1.5495. The Australian and New-Zealand dollars rates’ grew as the optimism for the development of the tax-budget solution for the debt crises in the region reinforced. Demand for the high-yielding assets increased.
The Euro currency had a very significant day on Wednesday. At the beginning and most of the second part of the Asian trading session the Euro was down, influenced by news that the agency Standard & Poor's downgraded the credit ratings of 15 world banks. The EUR/USD pair hit $1.3256 point, which was its daily low. The situation had dramatically changed after the report of the Bank China, which reduced the reserve requirements for banks. In particular, the Reserve ratio was reduced by 0.50%. The EUR/USD pair sharply moved up and flew to $1.3531 within 30 min of time. The GBP/USD pair has also a spectacular sessions and set new daily high at $1.5775.
As a result of the announced news that the Bank of China lowered the requirements for Bank’s reserves the U.S. dollar and Japanese yen sharply declined against their competitors. Indeed, these good news brought some confidence to investors and increased their demand for the risky assets.
Euro showed limited growth on Thursday and the EUR/USD pair rose to $1.3470 zone. During the European session the Euro currency grew against major currencies against the background of the auctions for government bonds of France and Spain. Past auctions recorded increase in demand for debt securities of European countries. The EUR/USD pair strengthened in the region of $1.3514. The reduced demand for safe assets influenced the US Dollar trading dynamic during both sessions. Also the fact of changed investors’ perspective regarding the condition of the American economy into a positive way, reinforced the Greenback’s decline against its major competitors.
By the end of the trading week the EUR/USD pair could not keep the reached maximums of $1,3550 and fell to $1,3400 due to the weakened investors’ optimism and drop of the US stock markets. The GBP/USD pair decreased to the $1,5600 region.

________________________________________
WEEKLY TECHNICAL ANALYSIS FOR 5.12 - 9. 12, 2011






EURUSD
The pair has declined to 1.33427. If the pair stays below this level the pair will decline to the Moving Average (500) at 1.28800.
Resistance: 1.37441, 1.41130, 1.44835
Support: 1.33427, 1.28800, 1.25667

GBPUSD
The pair stays below 1.59962 and may decline to Fibonacci 23% at 1.53340.
Resistance: 1.59962, 1.64274, 1.68504
Support: 1.52523, 1.48532, 1.43344

USDCHF
The pair is trying to stay above 0.91074 this will bring pair to test resistance at 0.93264.
Resistance: 0.93264, 0.96597, 0.99031
Support: 0.91074, 0.88022, 0.85633

USDJPY
The pair is rolling back to 76.535.
Resistance: 80.244, 83.330, 86.836
Support: 76.535, 73.126, 69,117

AUDUSD
The pair has risen above resistance 1.01873. If the pair stays above this level the pair will rise to 1.03847. If the pair stays below 1.01873 the pair will decline to 1.00031.
Resistance: 1.01873, 1.03847, 1.05810
Support: 1.00031, 0.97889, 0.94417


OUR HOLIDAYS SCHEDULE
The Holiday period is fast approaching. Many countries will be celebrating Christmas and New Year, so banks and stock exchanges will not be operating at that time. We of course also will be closed for a few days during this period.
We will close on Friday, 23rd of December 2011 as usual and will reopen on Wednesday, 28th December 2011 at 9am GMT.
We then will close again on 30th December 2011 and re-open on Tuesday 3rd January 2012.
We wish everyone a save and happy holiday period and a prosperous year 2012.

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WEEKLY REVIEW FOR 5.12 - 9. 12, 2011

During the past week market participants’ were expecting the economic summit of European Union.
During the European and Asian trading sessions on Monday the euro rose against most major currencies. There were two main reasons for that growth. First reason had to do with the fact that the Prime Minister of Italy, Mario Monti accepted the measures aimed for achieving a balanced budget by 2013 year. The second reason had to do with the reports that the ECB could provide to the IMF 270 billion dollars, which would be directed towards the fight with the debt crisis in the European Union.
The Euro experienced a deeply fall against the U.S. dollar after the S & P agency warned of possible downgrades the AAA rating of some European countries, including Germany. Other negative news had to do with the report of Retail Sales in Eurozone, which dropped for the 0.4% in October versus forecasted 0.8%.
At the beginning of American session the sterling strengthened against the backdrop of favorable statistics, which showed that the PMI index in the UK service sector amounted to 52.1 points in November, yet was expected to be 50.5 points.
The dynamics of the Euro trading on Tuesday was positively affected by the report on the Germany Factory Orders, which were better than expected; in details, 5.2% versus 1 % in October.
The big news for Australian dollar on that day were a decision of the Reserve Bank of Australia, which cut interest rates by 25 basis points for the second consecutive month to 4.25 %. Australian dollar fell against all major currencies at the beginning of the Asian trading session.
The Swiss franc fell against all major currencies against the backdrop of November's decline in CPI by 0.5 % compared with the forecasted 0.3%.
During the Asian trading session on Wednesday the EUR/USD pair gained about 30 points amid expectations that Europe would expand the fund for assistance to European countries with debt problems in the Euro region, in the forthcoming meeting in Brussels on Thursday.
The reason for falling of the U.S. dollar at the Asian trading session was the decline in the demand for safe-haven assets.
The Euro currency was under pressure on Thursday against the US Dollar and Japanese Yen amid the concerns of investors that the European countries, Germany and France could lose their AAA credit ratings. These concerns arose because of the rumors that European leaders would not agree on a new plan of restraint of the debt crisis in the EU this week.
Together with US Dollar and for the same reason of increasing demand for safe–haven assets, the Japanese Yen strengthened against the major currencies.
The Loonie fell steeply from its December highs against of the US Dollar, amid concerns about further spread of the European debt crisis and the decreasing demand for risky assets as well as for Oil futures.
The pressure on the single currency increased after the speech of the ECB president, Mario Draghi, who signaled that the European central bank does not want to increase purchases of government bonds of countries of EU region for dealing with debt crises.
________________________________________
WEEKLY TECHNICAL ANALYSIS FOR 12.12 - 16. 12, 2011




Our last technical analysis for this year will be on Wednesday, 14th December 2011. Daily technical analysis will resume on 10th January 2012.

EURUSD
The pair has declined to 1.33427. If the pair stays below this level the pair will decline to the Moving Average (500) at 1.28800.
Resistance: 1.37441, 1.41130, 1.44835
Support: 1.33427, 1.28800, 1.25667

GBPUSD
The pair stays below 1.59962 and may decline to Fibonacci 23% at 1.53340.
Resistance: 1.59962, 1.64274, 1.68504
Support: 1.52523, 1.48532, 1.43344

USDCHF
The pair is trying to stay above 0.91074 this will bring pair to test resistance at 0.93264.
Resistance: 0.93264, 0.96597, 0.99031
Support: 0.91074, 0.88022, 0.85633

USDJPY
The pair is rolling back to 76.535.
Resistance: 80.244, 83.330, 86.836
Support: 76.535, 73.126, 69,117

AUDUSD
The pair has risen above resistance 1.01873. If the pair stays above this level the pair will rise to 1.03847. If the pair stays below 1.01873 the pair will decline to 1.00031.
Resistance: 1.01873, 1.03847, 1.05810
Support: 1.00031, 0.97889, 0.94417


OUR HOLIDAYS SCHEDULE
The Holiday period is fast approaching. Many countries will be celebrating Christmas and New Year, so banks and stock exchanges will not be operating at that time. We of course also will be closed for a few days during this period.
We will close on Friday, 23rd of December 2011 as usual and will reopen on Wednesday, 28th December 2011 at 9am GMT.
We then will close again on 30th December 2011 and re-open on Tuesday 3rd January 2012.
We wish everyone a save and happy holiday period and a prosperous year 2012.

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GET A 35% TRADING BONUS WHEN YOU OPEN A NEW ACCOUNT.
A new bonus promotion has started. If you are just about to fund your trading account for a first time you may be eligible for a 35% bonus or maximum of $15,000. The full bonus conditions are available at https://forex-metal.com/discount/bonus35.
If you would like to take advantage of this new promotion please contact our support team at [email protected] .

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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.

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WEEKLY REVIEW FOR 12.12 - 16. 12, 2011

Last week the US dollar was in a high demand in the market, which allowed the U.S. currency to strengthen against its major competitors. In particular: on Monday the U.S. dollar strengthened against the most major currencies together with the increased demand for safety assets. Moreover, another reason supported that outgrowth due to the expectations of tomorrow's negative report on Germany’s investor confidence. That report could have shown the reduction in investors’ confidence in European economy, which in turn was supposed to result in increased demand for safe-haven currencies, like US Dollar and Japanese Yen. On Tuesday the positive trading dynamics of greenback set due to market participations’ anticipations of the EFSF auction. The market participants expected negative sales in connection of the possible reduction by Standard & Poor's agency the highest rating of the leading EU countries. Day after the FOMC meeting, on Wednesday the American dollar accelerated its bullish trend against major currencies .The Federal Reserve, despite the optimistic assessment of the American economy, also noted the " significant hidden risks."At the end of the week the dollar had support due to negative dynamics of U.S. stock markets against the background of the announcement of rating agency Fitch, which placed ratings of Belgium, Spain, Slovenia and Italy to the list for review.
The Euro started out its last week with a sharp move lower against the most major currencies in anticipation of auction of Italy’s government bonds. The expectations were negative amid spread fears of the debt crisis in EU countries. Also, the pressure on the Euro currency had to do with investors’ concerns about the potential consequences from the disagreement between the UK and EU leaders’ arrangements on the last Friday’s summit. The EUR/USD pair suffered big drop to $1.3182 at the end of the European trading session. On Tuesday, the Credit rating agencies continued to criticize the results of the European summit and reinforced worries that the agreement would not be sufficient to contain the EU debt crisis .The report of the German institute ZEW, which recorded a growth of business confidence of the largest euro zone economy and the EU as a whole in the first over the past 10 months, positively supported the dynamics of trading of the Euro currency and the EUR/USD showed its daily high at $1.3235 level. On Wednesday the European countries were preparing to sell bonds on the background of the deteriorating situation of the debt crisis in the EU region. The EUR/USD pair consolidated at $1.3030 level during the Asian trading session. At the auction, despite the high demand for Italian bonds, the average yield was 6.47% vs. 6.29 for a similar previous release. The EUR/USD couple dropped under the $1.3000 mark at end of the European session against the persistence of concerns about worsening debt crisis in EU. Thursday’s Asian trading session, especially its second part, showed us the outgrowth of the Euro currency. The EUR/USD pair rose on the positive anticipations of the Spain government bonds auction and had rallied to its session’s highs of $1.3034 level at the end of the session. However, the resistance of this level proved futile and the couple pulled back down to test the $1.2960 support level. The result of Spain bond’s auction had a positive effect for Euro currency. In details, today Spain sold its bonds for 6.03 billion euro versus planned 3.5 billion euro. The EUR/USD had a sharp snapback recovering from its daily lows to the highs of previous session. Indeed, the European session was quite volatile for the EUR/USD couple. All in all, At the end of the week the EUR / USD lost 2.5%
Increase in the dollar against the British pound was limited to an increase in demand for sterling as a relatively safe asset. The losses of GBP/USD amounted only to 1.0%.There were also other factors which supported English currency during the previous week. On Tuesday, the pound rose to its daily highs around $1.5620 area after the Royal Institute announced that the RICSS’s house price balance index in Britain rose in November to - 17% amid rising demand versus – 24% in October and forecasted -25% .Wednesday’s trading sessions were supported by published data on the labor market in the UK, which showed that in November unemployment rate remained at 5.0% .

During Thursday’s sessions, the Swiss franc rose against all major currencies amid expectations of the decision of the Swiss central bank. It was expected that the SNB would refrain from weakening the CHF currency. The Franc rose against the US dollar and the Euro after the Swiss National Bank left the “anchor” of the national currency to the Euro at the same level.
The Australian dollar fell in trading on Wednesday and matched parity with U.S. dollar. Again, the reason was because of the increased nervousness of market participants due to the European debt crisis.
Gold prices experienced negative dynamics during the previous week and closed at $1598 level mark on Friday.
World oil prices fell sharply on Wednesday. For the first time since 2008 the Organization of the Petroleum Exporting Countries (OPEC) at the meeting on 14 December decided to raise quotas for hydrocarbons production. In details, OPEC decided to increase the quota for the production from 24.845 million bpd to 30 million barrels / day. The WTI oil futures fell by more than five dollars and closed below $95 a barrel.
________________________________________







Daily technical analysis will resume on 10th January 2012.

OUR HOLIDAYS SCHEDULE
The Holiday period is fast approaching. Many countries will be celebrating Christmas and New Year, so banks and stock exchanges will not be operating at that time. We of course also will be closed for a few days during this period.
We will close on Friday, 23rd of December 2011 as usual and will reopen on Wednesday, 28th December 2011 at 9am GMT.
We then will close again on 30th December 2011 and re-open on Tuesday 3rd January 2012.
We wish everyone a save and happy holiday period and a prosperous year 2012.

________________________________________
GET A 35% TRADING BONUS WHEN YOU OPEN A NEW ACCOUNT.
A new bonus promotion has started. If you are just about to fund your trading account for a first time you may be eligible for a 35% bonus or maximum of $15,000. The full bonus conditions are available at https://forex-metal.com/discount/bonus35.
If you would like to take advantage of this new promotion please contact our support team at [email protected] .

Don't have an account yet? Maybe it is time to open one?
Open the new trading account here https://forex-metal.com/accounts/new_2 to be eligible for this and other great promotions.
. 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.

________________________________________
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WEEKLY REVIEW FOR 03 - 06.01, 2012

Euro: One of the reasons of euro‘s growth against the U.S. dollar on Tuesday was the better than expected data on the indexes of business activity in the manufacturing sectors in France and Germany and the EU as a whole. Also, the support for the couple was provided by report of the Germany‘s labor market, which recorded improved employment situation in Germany, the EU’s largest economy. The unemployment rate fell to 6.8% from previous 6.9%. The Wednesday’s European trading session showed the decrease of the Euro against major currencies amid the weak results of the auction on government bonds of Germany, which resulted that only the amount of 4,057 billion euro were collected compare to planned of 5.0 billion euro. Also, the pressure on the euro had forecasted decrease for GDP in Germany reported by the DIW, German Institute for Economic Research. The forecast for GDP growth in Germany in 2012 was reduced to 0.6 % from previously estimated +1, 0%. According to results of Thursday’s auction, France attracted 7,963 billion euro against the target of 7.0-8.0 billion euro. However, the Euro fell against these results; because of the recorded growth of yield average compared with the yield average of previous editions on government bonds, and also declined coverage was recorded. In this regard, ratings agencies might low the top AAA rating of the France. Friday’s good news of positive than expected change in number of people employed in non-farm payrolls threw the Euro currency to its lowest level of this week, $1.2700 area.
US Dollar: The increased demand for risky assets caused by reducing in investor’s negative sentiment pressured the US dollar at the beginning of this week. Also, the positive reports of manufacturing activity in China and India which were published earlier this week supported for increased investor’s appetite for risky assets. After the published positive statistics, the US ISM Manufacturing Index which grew to 53.9 in December 2011 and showed signs of extending in production in China and the U.S, the US dollar fell against the majority of the most traded currencies. On Wednesday, the US dollar strengthened against its competitors amid falling stock markets in Europe. Also, the support for US the dollar was provided by released statistics which recorded that in November the U.S. Factory Orders increased by 1.8 % which was quite positive news for the US economy. After the Agency ADP Employer which reported on Thursday that American companies hired 325 000 workers in December, which was better than expected 178 000, the US dollar continued its uptrend. Friday’s good news of unemployment rate in US which unexpectedly fell from 8.7 % to 8.5% supported positive US dollar trading dynamics as well. This report brought optimism that the recovery of U.S. economy is gaining momentum.
British Pound: The British pound rose against its competitors on Wednesday. The report of Purchasing Manager Index Construction, business activity in the construction sector in Britain, recorded 53.2 value in December and exceeded forecasted value of 51.5.On Thursday, the GBP / USD pair fell below $ 1.5500 area to its both sessions lows of $1.5492 area. Even, the published report of PMI in the UK service sector, which in December had risen to the level of 54.0 points against the November forecast values of 51,6 , could not stop the pair from sliding down. The GBP / USD couple continued its downtrend on Friday and ended up very close to $1.5410 level.
Japanese Yen: The USD / JPY pair traded mostly in narrow trade ranges almost every trading day. At the beginning of this week it went to the level of 76.59, but by the end of the week was again in the near 76.99 area.

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WEEKLY REVIEW FOR 9 - 13.01, 2012


Euro: This for Euro currency week began with optimism. During the trading sessions on Monday the Euro was raising against its major competitors against the background of attention to the crucial meeting of leaders of Germany and France. The EUR / USD pair strengthened to $1.27835 level at the beginning of the European trading session amid the positive expectations of this meeting.On Tuesday, the Euro continued to recover against the major currencies for the second day against the background of a positive perception on the results of the meeting of the heads of European countries. The purpose of this meeting was to take an action to resolve the debt crisis of EU. The EUR / USD pair rose above $ 1.2800 and recorded its daily high at $1.2815 area. Due to growing concerns of possible distribution of debt crisis in Europe, the euro fell against the dollar as well as against the others major currencies during the Wednesday’s trading sessions. Market participants still feared that the current crisis will cause a slowdown in the economy of the region. The EUR / USD pair decreased below $ 1.2700 and recorded its low of $1.2662. During the Thursday’s Asian trading session the EUR/USD couple traded in narrow range between $1.2700 and $1.2732 levels .Market participants did not want to initiate any actions at the threshold of announce of the EU Central Bank rate, which was left unchanged later . The result of the auction of Spain government bonds, which attracted almost double amount than planned, 9.98 billion euro against planned of4-5 billion euro, supported the Euro currency this day and the EUR/USD pair grew up, showing the maximum at the $ 1.2778 area. At the rest of Thursday the Euro remained traded at its highs against the US dollar after European Central Bank President Mario Draghi said that he saw signs of stabilization in the economy of the EU. On Friday, the European currency is completely cut off its previous day’s achievements and dropped to a 17-month low against the US dollar. The result of strong sales of the euro was lowering of credit ratings of several European countries.

US Dollar: The US dollar ended up this week with a slight increase against the euro and the pound 0.5% and 0.9% relatively. The positions of the U.S. currency against the yen remained almost unchanged. On Tuesday, the U.S. dollar fell against the background of positive dynamics in the European and Asian stock indexes and demand for risky assets. The pressure on the dollar this day at the American trading session was also provided by positive momentum in U.S. stock markets. The US dollar, traded mostly lower against its competitors on Thursday, because of the leading decline in demand for relatively safe assets. The currency slid down after the report on U.S. retail sales in December, which rose less than expected, by only 0.1% versus forecasted 0.3 %. Also, the increased Initial Jobless Claims, which grew to 399K against forecasted 375K, pressured the American currency.
British Pound: The pound remained under pressure amid speculation that this year the Bank of England will expand its program of bonds redemption and today’s announcement of the interest rate of England. The Bank of England would more room to stimulate the economy because of declined inflation in the UK. The market participants think that there are chances for continuing the program of quantitative easing after February. The GBP / USD pair fell below $ 1.5300 and recorded its weekly low at the level of $1.5232.

Swiss Franc: The news of the resignation of the head of the Swiss National Bank Mr. Philipp Hildebrand which released on Monday was supportive for trading dynamics of Swiss Franc. This resignation is related to the recent scandal of illegal operations with the use of insider information. The Swiss currency became stronger against its competitors after the head of the Swiss central bank had reported this issue.
________________________________________

WEEKLY TECHNICAL ANALYSIS FOR 16 - 20. 01, 2012
EURUSD
The pair has broken Moving Average (500) and trying to reach support at 1.25667. If the pair stays above this level the pair will return to MA (500) and Fibonacci level 38% at 1.30624. If the pair declines below 1.25667 the pair will decline to the next Fibonacci level 50% at 1.21216.
Resistance: 1.28800, 1.33427, 1.37441
Support: 1.25667, 1.20280, 1.17063

GBPUSD
The pair has declined to Fibonacci 23% at 1.53340.
Resistance: 1.59962, 1.64274, 1.68504
Support: 1.52523, 1.48532, 1.43344

USDCHF
The pair will try to reach Moving Average (200) at 1.01369. At the same level is Fibonacci 61%.
Resistance: 0.96597, 0.99031, 1.04060
Support: 0.93264, 0.91074, 0.88022

USDJPY
The pair is rolling back to 76.535.
Resistance: 80.244, 83.330, 86.836
Support: 76.535, 73.126, 69,117

AUDUSD
The pair has risen above 1.01873. If the pair stays above this level the pair will rise to 1.03847. If the pair stays below 1.01873 the pair will decline to 1.00031.
Resistance: 1.03847, 1.05810, 1.07806
Support: 1.01873, 1.00031, 0.97889





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