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Forex-Metal Daily Analysis -08/03/2011
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[QUOTE="Forex-Metal, post: 18027, member: 5723"] Moody’s Greece rating pushes the euro lower. Asian and European trading sessions: Euro: This week started with a diverse trading dynamics of the euro. Euro was supported by the expectations for the reinforced possibility of the interest rate increase by the ECB. The released state bonds’ rating of Greece, announced today by the Moody’s rating agency, was reduced for 3 levels to B1. As a result, the euro dropped against the greenback. But after the European stock indices growth the euro demonstrated maximums at the level of $1,4037. British Pound: In the beginning of the trading day the GBP/USD pair showed minimums of $1,6230. Nevertheless, the pound followed the positive euro trend, and the GBP/USD demonstrated its maximum of $1,6340. The sterling was supported by the expectations for the interest rate increase at the next meeting of the Bank of England. Japanese Yen: Japanese yen grew against its major counterparts on Monday. The USD/JPY pair hit minimums of Y81,90 and strengthened to Y82,00. Oil: Oil prices were around the $104.42 per barrel maximums today. Gold: Gold also reached new maximums of $1444.25 per ounce. American trading session: US Dollar: The US dollar was supported by the FRB officials during the second part of the day. Euro: American trading session showed a different trend. The EUR/USD dropped to $1,3953. British Pound: By the end of the day the GBP/USD decreased to $1,6180 as well. [url]https://forex-metal.com/news_posts[/url] Technical analysis for 08/03 EURUSD The pair has broken 1.39600. If the pair stays above this level the pair will rise to 1.40690. If the declines below1.39600 the pair will decline to 1.38554. Resistance: 1.40690, 1.41780, 1.42996 Support: 1.39600, 1.38554, 1.37486 GBPUSD If the pair stays below 1.62050 the pair will decline to 1.60969. If the pair stays above 1.62050 the pair will rise to 1.63316. Resistance: 1.63316, 1.64636, 1.65706 Support: 1.62050, 1.60322, 1.58543 USDCHF The pair is trying return to previous low at 0.92005. Resistance: 0.93069, 0.93949, 0.96220 Support: 0.92026, 0.91079, 0.89891 USDJPY The pair has reached 82.219 and aiming to 81.600. Resistance: 82.219, 83.065, 83.933 Support: 81.399, 80.438, 79.707 AUDUSD The pair is trading in the narrow corridor between 1.01744 and 1.00907. Breakage of one of the levels will give a movement to the next levels . Resistance: 1.01744, 1.02705, 1.03535 Support: 1.00907, 1.00067, 0.99207 [url]https://forex-metal.com/news_posts[/url] [/QUOTE]
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