Forex-Metal Daily Analysis – 30/11/2011

Expectations for the meeting of the EC Ministers of Finances pushed euro up.

Asian and European trading sessions:
Euro: Euro demonstrated growth today 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.
US Dollar: According to the released information, the 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: British Pound showed its big move during the European trading session rising to $1.5655 from $1.5495.
Japanese Yen: At the same time the Japanese yen started to lose its previously won positions. The unemployment rate in Japan for October increased for 4.5%. As a result, the USD/JPY pair set its daily lows at Y77.6.
Australian and New-Zealand Dollars: 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.

American trading session:
The euro dropped by the end of the trading day.
Oil: Oil rate increased to $99,79 per barrel.
Gold: Gold traded in the range of $1704 – $1718 per ounce.

Technical analysis for 30/11

The pair has broken support and declined to the next support level at 1.33143. If the pair stays above this level the pair will rise to 1.34882.
Resistance: 1.34882, 1.35984, 1.37486
Support: 1.33143, 1.31674, 1.30277
The pair has nearly tested 1.56722. The pair may try to test this level again.
Resistance: 1.56722, 1.58543, 1.60322
Support: 1.54842, 1.53482, 1.52063
The pair has declined to 0.92026 and trying to break it. This may bring pair to test 0.91079.
Resistance: 0.93069, 0.93949, 0.95074
Support: 0.92026, 0.91079, 0.89635
The pair is trying to rise to the Moving Average (200) at 78.661.
Resistance: 78.345, 79.070, 79.707
Support: 77.539, 76.463, 75.425
The pair is aiming to the Moving Average (100) at 1.01744 and Moving Average (200) at 1.02558.
Resistance: 1.00907, 1.01744, 1.02558
Support: 1.00067, 0.99207, 0.98436