Market review for 15.02.12: The Euro zone’s GDP contracted by 0.3% in a 4Q.

Forex Metal Daily Newsletter Send to a Friend |  Visit our website |  Unsubscribe Thursday, 16 Feb 2012 Daily review for 15.02, 2012 The Euro zone's GDP contracted by 0.3% in a 4Q.   Asian and European trading sessions:   Euro: The Euro started this day with the resuming its downtrend. However, for the first four hours of the Asian trading session the trading dynamics for the currency changed to an opposite positive direction. The reason for that was an announcement of representatives of the People's Bank of China, who said that the country will participate in the settlement of the debt crisis in Europe. This news increased the demand for risky assets and the EUR / USD pair strengthened to $1.3190 area at the European trading session.       British Pound: The GBP/USD almost copied the EUR/ USD trading dynamics, excluding a quite big intraday sell off at the beginning of the European trading session. The pair traded in the range of $1.5677-$1.5734 during both sessions.   Japanese Yen: The USD / JPY pair remained trading in narrow trade range of Y78.18-Y78.60 levels during both trading sessions.     American trading session:   Euro: The negative result of the report on GDP in euro zone, which is in the 4th quarter decreased by 0.3%, put pressure on the Euro also at the American trading session. In addition, the Euro currency fell against the dollar after euro zone finance ministers postponed a meeting to approve a new package of financial assistance.   US Dollar: The U.S. dollar remained under pressure during this session. There were two positive reports that caused this pressure: the report of Empire Manufacturing of New York which expanded in February at the fastest pace since June 2010, and the index of current conditions and expectations for the housing market, NAHB which became stronger in February. However, not only the positive news were in today's market, the negative came after published statistics data of Industrial Production, which recorded that the volume of industrial production in the U.S. did not change in January, while economists forecasted its growth by 0.7%. This negative provided support for US currency. Gold: Gold was mostly rising today, while investors waited for news on the situation in Greece. The cost of the February gold futures today grew to its daily maximum of 1736.90 dollars per ounce.     Oil: After the U.S. Department of Energy reported a decline in gasoline and distillates inventories the Oil prices increased. March futures price of WTI went up to 102.50 dollars per barrel.     TECHNICAL ANALYSIS  for 16.02, 2012   EURUSD The pair has declined to support 1.30277. If the pair declines below this level the pair will decline to 1.28630. Resistance:  1.31674, 1.33143, 1.34882 Support:  1.30277, 1.28630, 1.26897 GBPUSD The pair has declined to 1.56722, once this level is broken the pair will decline to 1.54842. Resistance:  1.58543, 1.60322, 1.62050 Support:  1.56722, 1.54842, 1.53482 USDCHF The pair has broken 0.92026 and aiming to 0.93069. Resistance:  0.93069, 0.93949, 0.95074 Support:  0.92026, 0.91079, 0.89635 USDJPY The pair has reached 78.345 but wasn't able to stay above. The pair may roll back to 78.005. 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.