Market review for 07.02.12: The Euro boosted on rumors of early agreement between Greece authorities and creditors.

Forex Metal Daily Newsletter Send to a Friend |  Visit our website |  Unsubscribe  Wednesday, 08 Feb 2012 Daily review for 07.02, 2012 The Euro boosted on rumors of early agreement between Greece authorities and creditors.   Asian and European trading sessions:   Euro: The euro currency during the Asian trading session fell against its major competitors against the backdrop of continuing concerns about Greece's ability to cooperate with EU regarding its huge debt. The EUR / USD pair fell to $1.3089 level. Also, the additional pressure on the euro was provided by the report on industrial production in Germany, which in December recorded an increase by only 0.9% with forecasted 4.3%, therefore was much worse than expected. Closer to the end of the European trading session, the euro currency boosted against other major currencies, reaching a session high of $ 1.3181 against the U.S. dollar amid speculation about the possible agreements between the creditors and the Greek government.     Australian dollar: Today, the Central bank of Australia decided to keep the interest rate at 4.25% level. These news provided support for the national currency and the Australian dollar rose against all 16 major currencies.     American trading session:     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 $ 1.5902 area.   US Dollar: After the Chairman of Fed Reserve Mr. Bernanke in his speech noticed that in the next two years inflation will be remained at the 2% mark or even below it the U.S. dollar dropped against its major competitors. The dollar index fell to its lowest level since December.   Japanese Yen: The USD / JPY pair continued it's up trade which was started on previous week and rose to Y76.96 level at the American trading session.   Gold: Gold grew on rumours of early agreement between Greece authorities and creditors. The cost of the February gold futures on the COMEX today rose to 1744.9 dollars per ounce.   Oil: The fears of possible threats of Iran to stop oil exports to several countries in Europe were supported for increasing prices on oil futures. The March WTI oil futures rose to its daily maximum of 99.07 dollars per barrel.     TECHNICAL ANALYSIS for 08.02, 2012   EURUSD The pair had drawn Flag on daily graph. The end of the figure maybe at 1.34882. Resistance:  1.33143, 1.34882 1.35984 Support:  1.31674, 1.30277, 1.28630 GBPUSD The pair has broken 1.58543 and reached Moving Average (500) which is the resistance level for the pair. Resistance:  1.60322, 1.62050, 1.63316 Support:  1.58543, 1.56722, 1.54842 USDCHF The pair is testing support 0.91079 again. If this level is broken the pair will decline to 0.89635. Resistance:  0.92026, 0.93069, 0.93949 Support:  0.91079, 0.89635, 0.88418 USDJPY The pair has broken support 76.463 and trading round this support.  Resistance: 77.539, 78.345, 79.070 Support:  76.463, 75.425, 74.414 AUDUSD The pair is aiming to 1.08413. Resistance: 1.08413, 1.09112, 1.09782 Support: 1.07739, 1.07005, 1.06164       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.