Market review for 27.03.12: TThe Bank of Japan is ready to fight the defilation in Japan.

Forex Metal Daily Newsletter Send to a Friend |  Visit our website |  Unsubscribe  Wednesday, 28 Mar 2012 Daily review for 27.03, 2012 The Bank of Japan is ready to fight the defilation in Japan.   Asian and European trading sessions:   Euro: The EUR / USD pair traded today in a narrow range showing its maximum at the $ 1.3383 and minimum at the $1.3326 level. US Dollar: The dollar traded lower today not far from monthly lows against the euro amid speculations that the U.S. Federal Reserve will proceed to the third round of quantitative easing, QE3. The Federal Reserve Chairman Mr. Bernanke in his yesterday speech hinted that the central bank, will keep an adaptive monetary policy as the American economy still needs the financial support for reducing the unemployment rate in the U.S. The greenback declined against almost all traded currencies. However, at the European trading session the U.S. dollar got supported by negative trading stock markets' dynamics, which increased the demand for U.S. dollar, as for a currency with safe haven status.   American trading session:   Euro: The euro retreated from daily highs against the dollar due to the negative situation at the stock markets The economics statistics were not supportive today as well; in details, the S & P / Case-Shiller Composite-20  index in January fell by 3.8 % (YoY). Although the value matched the forecasts of analysts, there was recorded the reducing of the indicator recorded for the fifth consecutive month. Also, the Conference Board reported that consumer confidence in the U.S. economy in March dropped to 70.2 points, which was though higher than expectations but much lower from the revised 71.6 points for February. Japanese Yen: The yen fell on rumors after the head of the Bank of Japan, Shirakawa said the importance of the victory over deflation. He stated that for fighting the deflation the Japan will need a strong economy growth and monetary policy support. However, for the stimulation of the economy growth, not only the Central Bank's liquidity injections might be required.   Oil: Oil fell after a representative of the Department of Energy announced that the U.S. can open strategic reserves of oil. May's WTI oil futures fell to 106.53 dollars a barrel on the New York Mercantile Exchange. Gold: The April futures price of gold rose today rose to $ 1696.93 per troy ounce on the background of growing expectations of keeping low interest rates in the United States as well as of rumors on starting of Q3 program in the nearest future.   ___________________________________________________________________    TECHNICAL ANALYSIS for 28.03, 2012     EURUSD The pair has nearly touched the Moving Average (200) at 1.34111 and rolling back to 1.31674. Resistance:  1.33143, 1.34882, 1.35984 Support:  1.31674, 1.30277, 1.28630 GBPUSD The pair's resistance is 1.60322, support 1.58543. Resistance:  1.60322, 1.62050, 1.63316 Support:  1.58543, 1.56722, 1.54842 USDCHF If the pair breaks 0.91079 the pair will rise to 0.92026. Resistance:  0.91079, 0.92026, 0.93069 Support:  0.89635, 0.88418, 0.87214 USDJPY If the pair stays above 83.065 the pair will rise to 83.933. If the pair stays below 83.065 the pair will decline to 82.219.  Resistance: 83.065, 83.933, 84.866 Support:  82.219, 81.399, 80.438 AUDUSD If the pair stays below 1.04407 the pair will decline to 1.03535. Resistance:  1.05332, 1.06164, 1.07005 Support: 1.04407, 1.03535, 1.02558                 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.