Forex-Metal Daily Analysis -27/01/2011

FOMC meeting decision.

Asian and European trading sessions:
Euro: On Wednesday the EUR/USD reached the maximums of $1,3709. German import prices showed growth for 2.3% against the forecasted 1.2%, which was published today. Expectations for the strong EC fundamentals release tomorrow supported the euro as well.
US Dollar: On Wednesday the greenback was mainly under pressure and decreased against major currencies.
British Pound: The released today minutes of the meeting of the Bank of England resulted in a sharp growth of the sterling. According to the published report, Andrew Sentance was supported by another confederate, who also voted for the increase of the interest rate for 25 basic points.
The GBP/USD reached the maximums of $1,5904.
Japanese Yen: The USD/JPY pair reached maximums at the level of Y82.20, and traded around the Y82 mark.
Oil: Oil traded at the range of $86.45 mark per barrel. During the day the rate grew and reached the $86.70 level.

American trading session:
US Dollar: According to the final decision of the FOMC meeting, the QE2 program was left unchanged at the previous level. The interest rate was left at the level of 0.25%.
Among the published fundamentals, the US New home sales demonstrated growth and reached 329K against the forecasted 300K.
New-Zealand Dollar: Today the Reserve Bank of New-Zealand left the principal rate unchanged at the level of 3.00%.


echnical analysis for 27/01

The pair is under resistance 1.37486. If the pair stays above this level the pair will rise to 1.38554. If the pair stays below 1.37486 the pair will decline to 1.35984.
Resistance: 1.37486, 1.38554, 1.39600
Support: 1.35984, 1.34882, 1.33143
The pair was unable to break 1.60322 and may decline to 1.56722 if stays below 1.58543.
Resistance: 1.60322, 1.62050, 1.63316
Support: 1.58543, 1.56722, 1.54842
The pair has broken 0.95125. If the pair stays below this level the pair may decline to 0.93435.
Resistance: 0.95125, 0.96574, 0.98114
Support: 0.93435, 0.91658, 0.89710
The pair is aiming to 82.219 if stays below this level the pair may decline to 81.399.
Resistance: 83.065, 83.933, 84.866
Support: 82.219, 81.399, 80.438
The pair is aiming to 0.99207 if this level is broken the pair will decline to 0.98436.
Resistance: 1.00067, 1.00907, 1.01744
Support: 0.99207, 0.98436, 0.97424