Market review for 14.02.12: The rating agency Moody's downgraded the credit ratings’ of six European countries, including Italy, Spain and Portugal.

Forex Metal Daily Newsletter Send to a Friend |  Visit our website |  Unsubscribe Wednesday, 15 Feb 2012 Daily review for 14.02, 2012 The rating agency Moody's downgraded the credit ratings' of six European countries, including Italy, Spain and Portugal.   Asian and European trading sessions:   Euro: The euro dropped against the dollar in anticipation of meeting of euro zone's finance ministers, which will take place on Wednesday. The result of this meeting will demonstrate whether Greece can get a new package of international assistance in order to avoid uncontrolled default. The EUR / USD pair showed its session low at $ 1.3127 level, but later pulled back to the daily highs of $1.3216. The main reason for this pull back were positive results of auctions of government bonds of Italy, which confirmed that Italy attracted 6 billion euro against a target 3.75-6.0 billion euro. Also, the positive statistics from German's ZEW institute, which recorded a reduction of borrowing costs, supported the Euro currency's positive dynamics.         US Dollar: The demand for safe assets like U.S. dollar increased after rating agency Moody's downgraded the credit ratings of European countries, including Italy, Portugal and Spain. Greenback rose against all major currencies.     British Pound: The GBP / USD couple fell to $ 1.5685 level during the Asian session. The pound was under pressure on the background of a reduction of the forecast for the UK's credit rating by international rating agency, Moody. The forecast was lowered from "stable" to "negative".     Japanese Yen: On the backdrop of the decision of the Bank of Japan to increase asset purchase program by 10 trillion yen to 65 trillion yen the yen fell against almost all major currencies. The USD / JPY pair soared to the highs of Y78.15 by the end of European session with certain potential to get higher on the following session.     American trading session:   Euro: The currency went back down at the American trading session. At that time, the pressure was provided by the report of Greece GDP, which is in the 4th quarter decreased by 7% against decreasing by 5.0 % in 3rd quarter.     Gold: The February's gold futures were traded today in the range of 1711.2 - 1727.9 per ounce on the background of instability in situation with Greece.   Oil: The oil WTI March futures price rose to 100.95 dollars per barrel. Oil traded at highs during the session supported by the positive reports of growing of sales in U.S. retail stores, which signal the possible US economic growth and increase in demand of fuel.       TECHNICAL ANALYSIS  for 15.02, 2012   EURUSD The pair has declined to support 1.31674 and shows signals of breaking this level. If the pair declines below this level the pair will decline to 1.30277. Resistance:  1.33143, 1.34882 1.35984 Support:  1.31674, 1.30277, 1.28630 GBPUSD The pair has reached 1.56722 and rolling back to 1.57666. Resistance:  1.58543, 1.60322, 1.62050 Support:  1.56722, 1.54842, 1.53482 USDCHF The pair is trading between 0.92026 and 0.91079. Resistance:  0.92026, 0.93069, 0.93949 Support:  0.91079, 0.89635, 0.88418 USDJPY The pair has reached 78.345 and aiming to 79.070. Resistance: 79.070, 79.707, 80.438 Support:  78.345, 77.539, 76.463 AUDUSD The pair is 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.