Thứ Ba, 21 tháng 2, 2012

Market review for 20.02.12: The Euro grew against the backdrop of today's meeting of EU finance ministers in Brussels.


Forex Metal Daily Newsletter

Daily review for 20.02, 2012

The Euro grew against the backdrop of today's meeting of EU finance ministers in Brussels.

 

Asian and European trading sessions:

 

Euro: The Euro continued to grow against its competitors at Asian trading session against the backdrop of today's meeting of EU finance ministers in Brussels. The participants of this meeting are going to decide whether Greece has done enough to get the proposed aid package of $ 130 billion. The EUR / USD pair strengthened during the European trading session to the highs of the day at $ 1.3276 area.

 

US Dollar: Against the background of positive dynamics at the Asian stock markets, the U.S. dollar fell against most major currencies. The reason for this positive was the Saturday's announcement of Bank of the People's of China, which reduced 50 basis points from mandatory requirements for the reserve of funds of Chinese banks.

 

British Pound: The GBP / USD during both sessions the pair was traded in the range of $ 1.5842 - $ 1.5878.

 

Japanese Yen: The reason for the Japanese Yen falling today was the report of the Japan government which stated that the Japan's exports declined in January, due to the strong national currency and the weakness of World global demand. The yen dropped against almost all major currencies. The report also provided information regarding the country's trade deficit, which widen to 1.48 trillion. ¥ ($ 19 billion), while exports fell by 9.3 percent. The USD / JPY pair traded around ??Y79.50 area during both sessions.

 

 

Gold: Gold traded in narrow range in anticipation of signing the agreement on assistance for Greece. The cost of the February gold futures laid in the range of 1728.6 - 1736.7 per ounce.

 

Oil: March oil WTI futures rose to 105.75 dollars per barrel.

 

American trading session:

Today the U.S. financial markets were closed in observance of Presidents Day.

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TECHNICAL ANALYSIS for 21.02, 2012

 

EURUSD

The pair has risen to the resistance level at 1.33143.

Resistance:  1.33143, 1.34882, 1.35984

Support:  1.31674, 1.30277, 1.28630

GBPUSD

The pair has risen to 1.58543. If the pair breaks this level the pair will rise to 1.60322.

Resistance:  1.60322, 1.62050, 1.63316

Support:  1.58543, 1.56722, 1.54842

USDCHF

The pair will try to decline to the Moving Average (200) at 0.90565.

Resistance:  0.92026, 0.93069, 0.93949

Support:  0.91079, 0.89635, 0.88418

USDJPY

The pair has risen to 79.707. The pair may roll back to 79.070 and continue rising.

Resistance: 79.707, 80.438, 81.399

Support:  79.070, 78.345, 77.539

AUDUSD

The pair is trying to break 1.07005 and may decline to 1.06164.

Resistance: 1.07739, 1.08413, 1.09112

Support: 1.07005, 1.06164, 1.05332

 

 

 


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