Market review for 01.02.12: The Euro rallied on rumors and positive statistics.

Forex Metal Daily Newsletter Send to a Friend |  Visit our website |  Unsubscribe Thursday, 02 Feb 2012 Daily review for 01.02, 2012 The Euro rallied on rumors and positive statistics.   Asian and European trading sessions:   Euro: During the Asian session the euro continued it's started yesterday downtrend. The EUR / USD the declined to $1.3027, its today's low. The market participants were expected a negative result of today's auction of Portugal government bonds. The European session started with a big rally of the euro. The currency ran during all session against almost all its main competitors after published report on the index of business activity in the manufacturing sectors of France, Germany and the EU, which was better than expected. Also support the euro currency had a rumour that the Greek authorities reached an agreement with private creditors. The EUR / USD par almost took back all its yesterday's losses setting its daily high at $1.32159 level.   British Pound: The GBP / USD continued to accumulate long positions and as the result rose to new highs showing the maximum of the day at $ 1.5880 area.   Japanese Yen: The USD/JPY traded in a range of Y76.01 to Y76.24 during both sessions.     Australian dollar: The Australian dollar was supported by the positive background provided by the report, which recorded a growth of PMI Manufacturing in China.   American trading session:   US Dollar: The American trading session saw the falling of the U.S dollar against 14 of the 16 most traded currencies. The demand for safe assets decreased after report of PMI Manufacturing in China and positive report of ISM Prices in United States   Oil: Today, WTI, the Crude oil futures fell by 0.83 dollars to 97.33 dollars per barrel.   Gold: Gold prices grew for a second day due to the falling of the U.S. dollar. During January this precious metal showed the maximum increase rising by 11 percent. The demand for Gold was due to weak dollar, as well as due to purchases of it by central banks, investors and consumers. Cost of February gold futures rose to 1751.5 dollars per ounce today.   TECHNICAL ANALYSIS for 02.02, 2012   EURUSD The pair has risen to 1.31674. Resistance:  1.31674, 1.33143, 1.34882 Support:  1.30277, 1.28630, 1.25690 GBPUSD The pair has MACD convergence that may support pair to start upwards corrections. The pair has risen to 1.58543. Resistance:  1.58543, 1.60322, 1.62050 Support:  1.56722, 1.54842, 1.53482 USDCHF The pair has found support at 0.91079 and may  roll back to Moving Average (500) at 0.93069. Resistance:  0.93069, 0.93949, 0.95074 Support:  0.92026, 0.91079, 0.89635 USDJPY The pair has broken support 76.463 and aiming to 75.425. Resistance: 76.463, 77.539, 78.345 Support:  75.425, 74.414, 73.573 AUDUSD The pair has broken triangle and aiming to 1.07739. Resistance: 1.07739, 1.08413, 1.09112 Support: 1.07005, 1.06164, 1.05332   Useful Links Discuss currency news with other traders in FX2Day forum: https://fx2day.net/forum/mvnforum/index Download free demo platform: https://forex-metal.com/home/download Ready to open a real account to start trading? You can do it here: https://forex-metal.com/accounts/new Did you know that you can earn commission simply for referring a friend to us? There are 3 commission options you can choose from. To learn more please visit our Introducing Brokers page: https://forex-metal.com/broker_inquiries/new Watch our new commercial at YouTube: http://www.youtube.com/watch?v=o0fQEydv-3M Open Account |  Economic Calendar |  PIP Value Calculator |  Forex for Beginners   Forex Metal T: 1-866-464-0944 F: 1-800-689-8298 E: info@forex-metal.com You are receiving this e-mail because you have subscribed to free daily FX news via Forex-Metal.com website. If you do not want to receive any e-mail messages from us please send a message to support@forex-metal.com with UNSUBSCRIBE in the subject line. Please do not reply to this newsletter.