Market review for 11.04.12: A decrease in the yield of Spanish and Italian government bonds provided support for the Euro currency.

Forex Metal Daily Newsletter Send to a Friend |  Visit our website |  Unsubscribe  Thursday, 12 Apr 2012 Daily review for 11.04, 2012   A decrease in the yield of Spanish and Italian government bonds provided support for the Euro currency.     Asian and European trading sessions:     Euro: The EUR / USD pair traded near the support level of $1.3066 at the beginning of the Asian trading session. From this point the couples was able to recover and rose to $ 1.3132 and then recorded its daily high near the resistance level of $1.3150 at the European session. Yesterday, ten-year bond yields of Italy, the third largest economy in Europe, rose by 23 basis points, reaching 5.69 percent, its highest level since February 17. This sharp rise in yields triggered market participants' fears of thinking of new round of crisis in Europe. However, today, support the single currency was provided by a decrease in the yield of Spanish and Italian government bonds.   British Pound: The GBP / USD pair again, just like in yesterday's trading, tried to copy the EUR / USD trading dynamics during both sessions. The couple firstly fell to lows of $1.5850, but later strengthened to the highs of $ 1.5935 at the end of the European trading session.     Japanese Yen: The USD / JPY pair recovered after yesterday's fall during the Asian trading pair. The USD / JPY couple tested a high of Y80, 94 for two times.   Australian and New Zealand dollar: These currencies rose against their competitors on the backdrop of rising futures indices and increasing demand for risky assets.     American trading session:   Japanese Yen: Amid speculation that the Bank of Japan is preparing another monetary easing in this month, the yen weakened against almost all of the 16 most traded currencies. British Pound: Today's report on March Retail Sales in UK showed a growth as it was reported by the British Retail Consortium. In details, the Retail sales grew by 1.3 % on year on year basis. In January and February, a decline of 0.3%.These news provide some support for the British currency and the GBP /USD pair went to test the highs of previous session , the level of $1.5931. Oil: The Oil rose after the U.S. Department of Energy reported a reduction of Gasoline's inventories. The cost of WTI May futures rose to 103.1 dollars a barrel on the NYMEX. Gold: The Gold prices were stable today after rising for four consecutive trading sessions. The May's futures of Gold traded in the narrow range of $ 1652.8 - $ 1662.2 per ounce on the COMEX.       ___________________________________________________________________    TECHNICAL ANALYSIS for 12.04, 2012   EURUSD The pair has declined to 1.30277 and aiming to 1.31674. Resistance:  1.31674, 1.33143, 1.34882 Support:  1.30277, 1.28630, 1.26897 GBPUSD The pair has risen to the Moving Average (500) at 1.59202. Resistance:  1.60322, 1.62050, 1.63316 Support:  1.58543, 1.56722, 1.54842 USDCHF The pair has reached 0.92026 and rolling back to 0.91079. Resistance:  0.92026, 0.93069, 0.93949 Support:  0.91079, 0.89635, 0.88418 USDJPY The pair is aiming to the support level at 80.438. Resistance: 81.399, 82.219, 83.065 Support:  80.438, 79.707, 79.070 AUDUSD The pair tested the Moving Average (500) at 1.02558 and stayed above this level. This may bring pair to 1.04407. Resistance:  1.04407, 1.05332, 1.06164 Support: 1.03535, 1.02558, 1.01744                   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.