Market review for 17.05.12: The Gold futures pulled back sharply in 2.41 % move to $ 1575 per ounce.

Forex Metal Daily Newsletter Send to a Friend |  Visit our website |  Unsubscribe Friday, 18 May 2012 DAILY REVIEW  for 17.05, 2012  The Gold futures pulled back sharply in 2.41 % move to $ 1575 per ounce.     Asian and European trading sessions:   Euro: During the Asian trading session the EUR/USD pair tried to hold up the earned yesterday positions and traded around $1.275 area. All this was on the backdrop of news that the leaders of the Greek party were making preparations for coming in June elections, where will be decided  the future of the country whether Athens will stay in Euro zone and get the next tranche of financial assistance or not. On the background the results of auctions of the Spain government bonds, the Euro fell to yesterday's four -month lows against the dollar. Today, Spain placed bonds maturing in January 2015 in the amount of 372 million Euros in July 2015 in the amount of 1.024 billion Euros in April 2016 in the amount of 1.098 billion Euros. All three placements had the maximum yield which was caused by speculation that the financial crisis in Europe goes beyond Greece. The EUR / USD pair fell below $ 1.2700 and recorded the new low of $1.2667.   U.S. Dollar: The dollar traded lower at the Asian session on the background of yesterday's publication of  the minutes of the FOMC's last meeting protocol which  showed that some of Fed officials favored the further easing of monetary policy, if the U.S. economy will continue to slow.   British Pound: The GBP / USD pair traded in a range between $ 1.5904 -$ 1.5927 before resuming its major downtrend. The coming pressure after yesterday's publication of the quarterly inflation report of the Bank of England, in which the British central bank raised its forecast for inflation and lowered perspectives for economic growth in the country, pushed the pound to new lows of $1.5790 in the GBP/USD pair. The expectations of the continuation of the Bank of England policy of quantitative easing program were increased among market participants today.     Japanese Yen: Amid speculation that on next week the Bank of Japan would increase the amount of incentive programs the yen weakened against most major currencies. The head of the Bank of Japan Mr. Masaaki Shirakawa noticed on today speech that the stability of the economy growth is very important. However, the USD / JPY pair changed its direction and fell steeply to the Y79.80 area by the end of European session.   Australian and New Zealand dollar: The Australian and New Zealand dollar strengthened their position today after the four-day fall on the background of taking profits by some of market participants.     American trading session:   Japanese Yen: The decline of stock indexes amid growing negative sentiment in the market supported the yen as the currency with the safe haven status. Against this background, the yen updated the 3- month high against the dollar falling to the Y79.12 level.   Gold: After reaching the 10- month low the Gold futures pulled back sharply and strengthened to the area of $ 1575 per troy ounce which is a 2.41 % up move from the last lows. All this was on the background of taking profit on short positions by investors. There were also rumors on market that  the Federal Reserve System after yesterday's FOMC meeting would likely to support the economy by next round of quantitative easing program.   Oil: The Crude oil futures rebounded today also from a six months minimums and attracted some buyers to the market. The cost of the June futures on U.S. light crude oil WTI on the NYMEX today rose by 0.16 % to $ 93.85, however did not go higher than that level and fell back to the $92 area along with the continuation negative sense on the markets.   ______________________________________________________________________   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.

Market review for 16.05.12: The ECB has stopped cash transactions with some Greek banks.

Forex Metal Daily Newsletter Send to a Friend |  Visit our website |  Unsubscribe Thursday, 17 May 2012 DAILY REVIEW  for 16.05, 2012  The ECB has stopped cash transactions with some Greek banks.   Asian and European trading sessions:     Euro: The Euro reached its lowest level in four months falling slightly below the $ 1.2700 level on the background of announcement of the early elections in Greece, which will be held on June 17. The fact that the Greek politicians could not use the last chance to form a government made an early parliamentary election inevitable. The big intraday push down to the EUR/USD's today's lows at 1.2688 level occurred due to the information that the ECB has stopped cash transactions with some Greek banks.     U.S. Dollar: The dollar continued its rally against major currencies against the backdrop of the continuing decline of Asian stocks. Also, the market participants expected today's publication of the protocol of the last meeting of the FOMC which was held on April 24-25.   British Pound: The Pound declined at the Asian session against its major competitors. The GBP / USD pair continued yesterday's fall. The reason that pound fell during the European session was the publication of the report of the Bank of England on the situation with inflation in the country in the first quarter of the 2012. The British Central Bank lowered forecasts for economic growth in the country and raised its forecast for inflation thus increased market participants' expectations regarding the continuation of the Bank of England policy of quantitative easing. The GBP / USD pair fell sharply during the report announcement even breaking the $1.5900 level and recording the low of today at ??$ 1.5890 mark. Later the couple was able to bounce to the area of ??$ 1.5950.   Japanese Yen: The yen continued its decline against the dollar after the published report on Machine orders The results showed that in March on monthly basis the volume of orders fell to -2.8 % after rising 2.8% at the previous month. The USD / JPY pair rose above yesterday's highs to the region of $80.53.       American trading session:   Euro: The fall of the euro against the dollar was limited due to the technical factors. During the session the EUR/USD couple bounced from the important $1.2700 level and strengthened to the $1.2757 region which was a high of today.     Gold: The Gold prices also bounced back from a 10- month lows and strengthened to the line of resistance of 8 May the 1552.5 level. A number of technical signals indicated the possibility of early correction in gold prices. The region of $ 1520 per troy ounce, the strong level of support in the area of lows of September and December 2011 has not yet broken. The cost of the June gold futures on the COMEX today closed this day at $ 1542.90 per troy ounce.   Oil: Oil fell to its lowest level in six months of $91.8 on the previous trading session. However, due to the technical oversold the Oil futures did continue moving lower and pull back sharply to the level of  $94.01.The pressure that oil prices came under was due to the  report from the Energy Department, which reported that oil inventories  rose last week to 2.128 million barrels. The cost of the June futures WTI on the NYMEX closed this day at $ 92.8 a barrel.     ______________________________________________________________________   TECHNICAL ANALYSIS for 17.05, 2012    EURUSD The pair is worked out Triple Top and declined to 1.26897.  Resistance:  1.28630, 1.30277, 1.31674 Support:  1.26897, 1.25690, 1.23907 GBPUSD The pair has broken 1.60322 and aiming to 1.58543. Resistance:  1.60322, 1.62050, 1.63316 Support:  1.58543, 1.56722, 1.54842 USDCHF The pair is aiming to 0.95074. Resistance:  0.95074, 0.96220, 0.97427 Support:  0.93949, 0.93069, 0.92026 USDJPY The pair is trading between two Moving Averages (100 and 200). If the pair breaks 79.707 the pair will decline to 79.070.  If the pair breaks 80.438 the pair will rise to 81.399. Resistance: 80.438, 81.399, 82.219 Support:  79.707, 79.070, 77.539 AUDUSD The pair has tested Fibonacci 23% 0.98733 and rolling back to 1.00067. Resistance:  1.00067, 1.00907, 1.01744 Support: 0.99207, 0.98436, 0.97423       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. 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Market review for 15.05.12: The situation in Greece is still in investors’ focus.

Forex Metal Daily Newsletter Send to a Friend |  Visit our website |  Unsubscribe Wednesday, 16 May 2012 DAILY REVIEW  for 15.05, 2012   The situation in Greece is still in investors' focus.   Asian and European trading sessions:     Euro: The second day of meeting of finance ministers of Euro zone which held in Brussels for resolving the situation in region did not bring any result. The Euro continued trading near a four-month low against the dollar on the background on fears that the Greece will have to leave out the Euro union due to the fact that the new government could not be still formed. The EUR / USD pair was trading between $ 1.2814 -$ 1.2865 at the Asian session. Some support for the currency today was provided by the stronger than expected Germany's GDP report, which on the quarterly basis increased by 0.5 % in the first quarter of 2012. The forecast of analysts was of growing by only 0.1%. According to preliminary data, the GDP of the euro zone as a whole was 0, 0% against the average of forecasts -0, 2%. The report was also better than expected. The EUR / USD couple showed the high of the day in the area at $ 1.2869, but couldn't sustain and fell below the $1.28 level to the region of $ 1.2770 during the European trading session.     U.S. Dollar: The dollar remained trading at highs against most major currencies due to the strong demand for the currency with safe haven status as well as in anticipation of tomorrow's publication of the minutes of the last meeting of the US Federal Reserve.   British Pound: The GBP / USD pair traded between $ 1.6085 -$ 1.6115 during the Asian session. At the next following session the pair fell into the region of $ 1.6018 on the backdrop of publication the report on trade balance deficit which was up in March at 8.6 billion pounds compared with an expected 8.4 billion pounds.     Japanese Yen: The USD / JPY pair traded in a narrow range of Y79.80-Y79.92 at the Asian session. During the next following session the couple strengthened to the region of Y80, 05 due to the strong demand for American currency.       American trading session:   U.S. Dollar:   Gold: The fact that the Gold has a strong demand of Asian countries – Indonesia, India, and Thailand for the jewelry industry the decline in gold prices was limited. However, the gold remained under pressure on the background of the continued concerns about the political situation in Greece. The cost of the June Gold futures on the COMEX fell today to $ 1541.8 per troy ounce.     Oil: The Oil futures tried to bounce after the big drop of previous days on the background of American economy statistical data which revealed that the index of activity in manufacturing sector of the New York City region grew stronger than expected in May. Indeed, the activity of the manufacturing sector in the region rose to 17.1 this month from 6.6 in April and exceeded analysts' average forecast, which implied growth of only 9. The cost of the June futures of WTI was kept in the range of $ 93.98 - $ 95.42 per barrel earlier; however, fell steeply during the session to the new lows of $93.00.   ______________________________________________________________________   TECHNICAL ANALYSIS for 16.05, 2012     EURUSD The pair is worked out Triple Top and declined to 1.26897.  Resistance:  1.28630, 1.30277, 1.31674 Support:  1.26897, 1.25690, 1.23907 GBPUSD The pair has broken 1.60322 and aiming to 1.58543. Resistance:  1.60322, 1.62050, 1.63316 Support:  1.58543, 1.56722,  1.54842 USDCHF The pair is aiming to 0.95074. Resistance:  0.95074, 0.96220, 0.97427 Support:  0.93949, 0.93069, 0.92026 USDJPY The pair is trading between two Moving Averages (100 and 200). If the pair breaks 79.707 the pair will decline to 79.070.  If the pair breaks 80.438 the pair will rise to 81.399. Resistance: 80.438, 81.399, 82.219 Support:  79.707, 79.070, 77.539 AUDUSD The pair is aiming to Fibonacci 23% 0.98733. Resistance:  1.00067, 1.00907, 1.01744 Support: 0.99207, 0.98436, 0.97423       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. 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