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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