Market review for 28.02.12: The European Central Bank allocated 500 billion euro for European banks.

Forex Metal Daily Newsletter Send to a Friend |  Visit our website |  Unsubscribe Wednesday, 29 Feb 2012 Daily review for 28.02, 2012 The European Central Bank allocated 500 billion euro for European banks.   Asian and European trading sessions:   Euro: The EUR / USD pair strengthened during the Asian session to the level of $1.3451 on positive anticipations of the second three -year operation LTRO, for providing unlimited liquidity to European banks by the ECB for 3 years term with the annual rate of 1%. EUR / USD: steam rose in the area of ??$ 1.3450.     U.S Dollar: The dollar Index was showing the negative dynamics at both sessions. These kinds of dynamics were caused by the positive which was coming from the major European stock exchanges. The market participants also expected the good news of macroeconomic data from the U.S, which had to be published later today.   British Pound: The GBP / USD pair traded today mostly in upward trend. During the European session the couple showed a growth to $1.5833level. The pound was supported by the report on the index of retail sales from the Confederation of British Industry (CBI). The February's value of this index resulted an improvement and was much better than forecasts.     Australian and New Zealand dollars: The Australian and New Zealand dollars showed today mostly negative trading dynamics on the background published information ,that  the Standard & Poor's, international rating agency  downgraded Greece 's credit rating to SD (selective default).     American trading session:   Euro: The EUR / USD pair almost reached a three-month high again at the level of $1.3470. The support for that growth was provided by the decision of ECB to allocate 500 billion euro for European banks on Wednesday.   Oil: Oil dropped after report on U.S. Durable Goods orders, which fell in January to the, the three years minimum.  The report indicated a slowing of economic growth and reducing demand for fuel. The April's WTI futures fell to 106.48 dollars per barrel.   Gold: March Gold futures prices rose to 1785.9 dollars per ounce today. Gold became more expensive due to the decision of the European Central Bank to allocate 500 billion euro for market on Wednesday. ________________________________________________________________________    TECHNICAL ANALYSIS for 29.02, 2012   EURUSD The pair has risen and found resistance at Fibonacci 50% level at 1.34882. The pair may breaks this level out and then will try to rise to the Moving Average (500) at 1.36708. Resistance:  1.35984, 1.37486, 1.38554 Support:  1.34882, 1.33143, 1.31674 GBPUSD The pair is trying to break Moving Average (500)  1.59093 and will try to raise to 1.60322. Resistance:  1.60322, 1.62050, 1.63316 Support:  1.58543, 1.56722, 1.54842 USDCHF The pair has reached support 0.89635 and trying to break it. It may bring pair to test the next support level at 0.88418. Resistance:  0.89635, 0.91079, 0.92026 Support:  0.88418, 0.87214, 0.85939 USDJPY The pair has reached Moving Average (500) at 81.399 and may roll back to 79.707. Resistance: 81.399, 82.219, 83.065 Support:  80.438, 79.707, 79.070 AUDUSD The pair has broken 1.07739 and 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.