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Forex-Metal Daily Analysis -08/03/2011
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[QUOTE="Forex-Metal, post: 18028, member: 5723"] [b]Forex-Metal Daily Analysis -09/03/2011[/b] Concerns over the deteriorating debt crises in Euro-zone pressure the euro. Asian and European trading sessions: Euro: On Tuesday concerns over the deteriorating and spreading debt crises in Euro-zone rendered pressure on the euro. Possibility of the ECB interest rate increase and expectations for the release of the strong European fundamentals did not support the euro today. The EUR/USD pair demonstrated maximums during the Asian session at the $1,3990 level and then decreased. The German Factory orders for January showed growth for 16.0% against the forecasted increase for 15.6% and last month’s drop for 19.6%. The EUR/USD traded at the $1,3900 mark. At the next meeting of the Euro-zone leaders in Brussels, planned for 24-25 th of March, a new package of measures aimed to stabilize the debt market is supposed to be accepted. Nevertheless, investors are concerned that there are too many controversies in the overcoming debt crises problems. The decision of the Moody’s rating agency to decrease the rating of Greece continued to pressure the euro as well. US Dollar: The greenback showed consolidation on Tuesday, and the decreased oil prices supported the American dollar. British Pound: The GBP/USD pair traded in the range of $1,6170-$1,6200. Japanese Yen: The USD/JPY pair strengthened and reached the Y82,60 level. Oil: On Tuesday the oil prices showed some negative movement, but the rate did not fell below the $104 mark per barrel. American trading session: Euro: The EUR/USD dropped to weekly minimums of $1.3861. British Pound: The sterling also followed the euro and dropped to $1.6150. https://forex-metal.com/news_posts Technical analysis for 09/03 EURUSD The pair has declined to support level at 1.38554. Resistance: 1.39600, 1.40690, 1.41780 Support: 1.38554, 1.37486, 1.35984 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: 1.62050, 1.63316, 1.64636 Support: 1.60322, 1.58543, 1.56722 USDCHF The pair is aiming to 0.93949. Resistance: 0.93949, 0.96220, 0.97427 Support: 0.93069, 0.92026, 0.91079 USDJPY The pair is aiming to 83.065. Resistance: 83.065, 83.933, 84.866 Support: 82.219, 81.399, 80.438 AUDUSD The pair has broken support 1.00907 and will try to decline to the next level at 1.00067. Resistance: 1.01744, 1.02705, 1.03535 Support: 1.00907, 1.00067, 0.99207 https://forex-metal.com/news_posts [/QUOTE]
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