Market review for 17.04.12:The positive Euro Zone’s macroeconomic data supported the Euro currency.

Forex Metal Daily Newsletter Send to a Friend |  Visit our website |  Unsubscribe Wednesday, 18 Apr 2012 Daily review for 17.04, 2012   The positive Euro Zone's macroeconomic data supported the Euro currency.     Asian and European trading sessions:    Euro: At the Asian session the Euro recorded its daily low against the U.S. dollar by testing a pivot line at the region of $1.3090. The euro fell against most major currencies of the 16 amid the worries about the future situation of sovereign debt in Spain. The European session showed an opposite, positive trading dynamics of the Euro currency on the backdrop of the results of the auction of the Spanish government bonds and supportive macroeconomic data which came from reports on Euro zone economic issues . As a result of the auction, Spain attracted 3.18 billion euros with the targeted 2-3 billion euros. The report on CPI index of Euro Zone showed an increase adding 0.01% to 1.6% versus forecasted values of 1.5% in March on YoY basis. Also, the Survey conducted by ZEW institute for the Euro zone's economy expectation recorded an improvement reaching13.1 value. As the result the EUR/USD couple strengthened to $1.3172 area.   British Pound: The Pound grew today on positive result of the annual CPI index which showed that the UK inflation rose for the first time since September 2011. In March, inflation accelerated for the first time in UK over the past six months rising by 3.5% against 3.4 % in February on YoY basis beating the forecasts of economists who had expected it at 3.4%. The GBP/USD pair grew to $1.5966 area.     Australian dollar: The Australian dollar suffered a sell off during the Asian trading session continuing its three-day decline against the U.S amid the statements of the Reserve Bank of Australia which mentioned a slowdown in inflation in the country. However, on rising demand for risky assets and recovering of Worlds Stock markets the currency was able to pull back sharply and by the end of European session jumped higher than the high of the previous day.         American trading session:   Japanese Yen: The yen fell against all 16 most traded currencies amid rising demand for risky assets and recovering of Worlds Stock markets after their three day decline. The USD/ JPY pair went to test the level of Y80.74 at end of European session. Canadian Dollar: The Bank of Canada on today's meeting decided to keep the interest rate unchanged at 1%, however, mentioning  that the rate could be increased in the future as inflation and the Canadian economy has the potential to exceed the forecasts. The Canadian Dollar showed maximum growth in four months against the dollar sharply strengthening to the level of $0.9866 within 2 hours move. Oil: May futures of U.S. light crude oil, WTI rose today to 105.04 dollars per barrel on the NYMEX. Gold: The May's Gold futures grew today to $ 1656.95 per troy ounce at COMEX after the sudden intraday drop to $ 1634.50 area, the S2 level where the buyers used the opportunity to get into the trade thus provided support for the asset's prices.   ___________________________________________________________________    TECHNICAL ANALYSIS  for 18.04, 2012   EURUSD The pair has drawn Double Top. If the pair breaks the figure's neckline 1.30277 the pair will decline first to 1.28630. Resistance:  1.31674, 1.33143, 1.34882 Support:  1.30277, 1.28630, 1.26897 GBPUSD The pair is trading below Moving Average (500). If the pair stays below 1.58543 the pair will decline to 1.56722. 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 testing the Moving Average (500) at 81.399. Once this level is broken the pair will rise to 82.219. Resistance: 81.399, 82.219, 83.065 Support:  80.438, 79.707, 79.070 AUDUSD The pair is trading in the range between Moving Averages (100 and 500) 1.04407 and 1.02558. 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. 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