Forex-Metal Daily Analysis – 05/10/10

The euro stepped back from the reached maximums against the greenback. Asian and European trading sessions:
Euro: The euro was under pressure during the morning trading, due to the negative influence from the European banking sector. Therefore, the euro stepped back from its 6-month maximum, which was set against the greenback last week. 
The released information, that the budget deficit of Ireland was expected to show a higher figure, rendered additional pressure to the euro. The EUR/USD pair decreased to the $1.3665 figure.
British Pound: The sterling showed negative dynamics as well and the GBP/USD rate dropped to the $1.5750 mark. At the same time, the released fundamentals were positive: the Purchasing manager index construction for September grew to 53.8.
Japanese Yen: Market participants were waiting for the results of the Bank of Japan meeting, which started today. According to the expectations, the Bank of Japan would decide to take additional measures to support the Japanese banks and buy out of state bonds. The interest rate is expected to be left at the previous level of 0.1%. As a result, the yen stopped its growth against the greenback.
The USD/JPY pair showed maximums at the level of Y83.90 and minimums around the Y83.17 mark.
Oil: The oil continued to trade around its 8-week maximum at $81.50 per barrel.
Gold: The gold prices rehabilitated a little, but still traded around the historical maximum, which was set last Friday. The yellow metal traded in the range of $1315-$1320 per ounce. American trading session:
US Dollar: Investors are waiting for the US employment report due on Friday. The unemployment rate is expected to grow to 9.7% for September.
Technical analysis for 05/10 EURUSD
The pair declined to Moving Average (500) at 1.36570. If the pair breaks this level the pair will decline to 1.35984.
Resistance: 1.37486, 1.38554, 1.39600
Support: 1.35984, 1.34882, 1.33143
The pair is under pressure of trendline 1.58962.
Resistance: 1.58543, 1.60322, 1.62050
Support: 1.56722, 1.54842, 1.52523
The pair has declined to support level at 0.97130. If the pair breaks this level the pair will decline to 0.96480. If the pair stays above 0.97130 the pair will rise to 0.97015.
Resistance: 0.97915, 0.99066, 1.00209
Support: 0.97130, 0.96480, 0.95510
The pair is aiming to 83.330.
Resistance: 84.260, 85.161, 86.246
Support: 83.330, 82.219, 79.957
The pair is correcting after sharp rise. First aim is 0.96392, second 0.94898.
Resistance: 0.97715, 0.98436, 0.99438
Support: 0.96392, 0.94898, 0.93788