IN THIS ISSUE:
1. Weekly market review from Forex-Metal.
2. Weekly technical analysis
3. Free debit cards promotion is on again.
4. Get a 35% trading bonus when you open a new account.
5. Representatives Wanted!
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WEEKLY REVIEW FOR 13 - 17.02, 2012
Euro: The euro rose against almost all of its competitors during both Monday’s sessions on the background of positive news published by Greek parliament which approved a plan of reducing budget expenses required to obtain financial assistance from the IMF and the EU. All these decisions were made against the backdrop of fierce clashes between demonstrators and police on the streets of Athens. On Tuesday, the EUR / USD pair showed negative dynamics before sharp pull back to the highs of $1.3216. The main reason for this pull back were positive results of auctions of government bonds of Italy, which confirmed that Italy attracted 6 billion euro against a target 3.75-6.0 billion euro. Also, the positive statistics from German’s ZEW institute, which recorded a reduction of borrowing costs, supported the Euro currency’s positive dynamics. The Euro started Wednesday with the resuming its downtrend. However, for the first four hours of the Asian trading session the trading dynamics for the currency were changed to an opposite positive direction. The reason for that was an announcement of the representatives of the People's Bank of China, who said that the country will participate in the settlement of the debt crisis in Europe. The negative result of the report on GDP in euro zone, which is in the 4th quarter decreased by 0.3%, put pressure on the Euro and the Euro currency fell against is competitors.On Thursday, the euro pulled sharply back to previous day highs on the backdrop of published information that the European Central Bank agreed to exchange Greek bonds for the new securities within the assistance program for this country. The European currency continued to growth on Friday and the EUR / USD pair returned to the highs of $1.3200
US Dollar: The U.S. currency attempted to recover some of its losses of the previous week. These attempts were supported by increased demand for safe assets on Tuesday after rating agency Moody's downgraded the credit ratings of six European countries, including Italy, Portugal and Spain. However, by the end of the week, because of the positive economic data from the United States, the appetite for risky assets aroused and the U.S. dollar again came under pressure.
British Pound: The GBP / USD couple fell to $ 1.5685 level on Tuesday’s sessions. The pound was under pressure on the background of a reduction of the forecast for the UK’s credit rating by international rating agency, Moody. The forecast was lowered from "stable” to “negative". The pound demonstrated on Thursday its best performance against the dollar after British consumer confidence recorded an improvement in January. In details, the confidence index reached 47 values compare to forecasted 40, which was considered as a big jump. On this news, the GBP / USD couple strengthened to $1.5810 area.
Japanese Yen: On Monday, after the report on Japan gross domestic product which recorded a decrease in its change of more than expected, the yen fell against major currencies. In details, the Japanese economy contracted by 2.3 % by the end of Q4 compares to forecast change of only 1.3%.On the backdrop of the decision of the Bank of Japan to increase asset purchase program by 10 trillion yen to 65 trillion yen the yen fell against almost all major currencies on Tuesday. The USD / JPY pair was rising during almost each day of this week supported by the previous technical set up which was occurred after the last intervention of the Bank of Japan with reaching the level of Y79.5
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WEEKLY TECHNICAL ANALYSIS FOR 20 - 24. 02, 2012
EURUSD
The pair has reached 1.33427 and rolling back to 1.130617.
Resistance: 1.33427, 1.37441, 1.41130
Support: 1.28800, 1.25667, 1.20280
GBPUSD
The pair is aiming to the Moving Average (100) at 1.59962.
Resistance: 1.59962, 1.64274, 1.68504
Support: 1.52523, 1.48532, 1.43344
USDCHF
The pair has declined to 0.91074. If this level is broken the pair will decline to 0.88022.
Resistance: 0.93264, 0.96597, 0.99031
Support: 0.91074, 0.88022, 0.85633
USDJPY
The pair is aiming to 80.244. The pair may try to reach Moving Average (100) at 82.245.
Resistance: 80.244, 83.330, 86.836
Support: 76.535, 73.126, 69,117
AUDUSD
The pair has broken Triangle, the end of the figure maybe expected at 1.10695.
Resistance: 1.07806, 1.09604, 1.11831
Support: 1.05810, 1.03847, 1.01873
________________________________________
35% TRADING BONUS IS ON AGAIN!
Cash bonus promotion - "You nominate the amount of the bonus". Get a cash bonus of up to $15000 when you deposit funds into your account for the first time. The full bonus conditions are available here: https://forex-metal.com/discount/bonus35 If you have just opened a trading account with us and fund it, you can receive a cash bonus in addition to your deposit.
If you would like to receive the bonus, please contact us at payments@forex-metal.com and confirm the bonus amount you would like to receive, at the time your account is being funded. REPRESENTATIVES WANTED!
We are expanding our operations and would like to open a representative office in your country, so we can be closer to our customers. If you feel that you are up to it: to have an interesting business and to have a steady income, then talk to us. You do not need to have any special knowledge - full training and support will be provided by us.
For more details please contact our Business Development team at business@forex-metal.com or talk to our operators via live chat and they will put you to the right person.
________________________________________
1. Weekly market review from Forex-Metal.
2. Weekly technical analysis
3. Free debit cards promotion is on again.
4. Get a 35% trading bonus when you open a new account.
5. Representatives Wanted!
________________________________________
WEEKLY REVIEW FOR 13 - 17.02, 2012
Euro: The euro rose against almost all of its competitors during both Monday’s sessions on the background of positive news published by Greek parliament which approved a plan of reducing budget expenses required to obtain financial assistance from the IMF and the EU. All these decisions were made against the backdrop of fierce clashes between demonstrators and police on the streets of Athens. On Tuesday, the EUR / USD pair showed negative dynamics before sharp pull back to the highs of $1.3216. The main reason for this pull back were positive results of auctions of government bonds of Italy, which confirmed that Italy attracted 6 billion euro against a target 3.75-6.0 billion euro. Also, the positive statistics from German’s ZEW institute, which recorded a reduction of borrowing costs, supported the Euro currency’s positive dynamics. The Euro started Wednesday with the resuming its downtrend. However, for the first four hours of the Asian trading session the trading dynamics for the currency were changed to an opposite positive direction. The reason for that was an announcement of the representatives of the People's Bank of China, who said that the country will participate in the settlement of the debt crisis in Europe. The negative result of the report on GDP in euro zone, which is in the 4th quarter decreased by 0.3%, put pressure on the Euro and the Euro currency fell against is competitors.On Thursday, the euro pulled sharply back to previous day highs on the backdrop of published information that the European Central Bank agreed to exchange Greek bonds for the new securities within the assistance program for this country. The European currency continued to growth on Friday and the EUR / USD pair returned to the highs of $1.3200
US Dollar: The U.S. currency attempted to recover some of its losses of the previous week. These attempts were supported by increased demand for safe assets on Tuesday after rating agency Moody's downgraded the credit ratings of six European countries, including Italy, Portugal and Spain. However, by the end of the week, because of the positive economic data from the United States, the appetite for risky assets aroused and the U.S. dollar again came under pressure.
British Pound: The GBP / USD couple fell to $ 1.5685 level on Tuesday’s sessions. The pound was under pressure on the background of a reduction of the forecast for the UK’s credit rating by international rating agency, Moody. The forecast was lowered from "stable” to “negative". The pound demonstrated on Thursday its best performance against the dollar after British consumer confidence recorded an improvement in January. In details, the confidence index reached 47 values compare to forecasted 40, which was considered as a big jump. On this news, the GBP / USD couple strengthened to $1.5810 area.
Japanese Yen: On Monday, after the report on Japan gross domestic product which recorded a decrease in its change of more than expected, the yen fell against major currencies. In details, the Japanese economy contracted by 2.3 % by the end of Q4 compares to forecast change of only 1.3%.On the backdrop of the decision of the Bank of Japan to increase asset purchase program by 10 trillion yen to 65 trillion yen the yen fell against almost all major currencies on Tuesday. The USD / JPY pair was rising during almost each day of this week supported by the previous technical set up which was occurred after the last intervention of the Bank of Japan with reaching the level of Y79.5
________________________________________
WEEKLY TECHNICAL ANALYSIS FOR 20 - 24. 02, 2012
EURUSD
The pair has reached 1.33427 and rolling back to 1.130617.
Resistance: 1.33427, 1.37441, 1.41130
Support: 1.28800, 1.25667, 1.20280
GBPUSD
The pair is aiming to the Moving Average (100) at 1.59962.
Resistance: 1.59962, 1.64274, 1.68504
Support: 1.52523, 1.48532, 1.43344
USDCHF
The pair has declined to 0.91074. If this level is broken the pair will decline to 0.88022.
Resistance: 0.93264, 0.96597, 0.99031
Support: 0.91074, 0.88022, 0.85633
USDJPY
The pair is aiming to 80.244. The pair may try to reach Moving Average (100) at 82.245.
Resistance: 80.244, 83.330, 86.836
Support: 76.535, 73.126, 69,117
AUDUSD
The pair has broken Triangle, the end of the figure maybe expected at 1.10695.
Resistance: 1.07806, 1.09604, 1.11831
Support: 1.05810, 1.03847, 1.01873
________________________________________
35% TRADING BONUS IS ON AGAIN!
Cash bonus promotion - "You nominate the amount of the bonus". Get a cash bonus of up to $15000 when you deposit funds into your account for the first time. The full bonus conditions are available here: https://forex-metal.com/discount/bonus35 If you have just opened a trading account with us and fund it, you can receive a cash bonus in addition to your deposit.
If you would like to receive the bonus, please contact us at payments@forex-metal.com and confirm the bonus amount you would like to receive, at the time your account is being funded. REPRESENTATIVES WANTED!
We are expanding our operations and would like to open a representative office in your country, so we can be closer to our customers. If you feel that you are up to it: to have an interesting business and to have a steady income, then talk to us. You do not need to have any special knowledge - full training and support will be provided by us.
For more details please contact our Business Development team at business@forex-metal.com or talk to our operators via live chat and they will put you to the right person.
________________________________________