The European Central Bank allocated 500 billion euro for the European banks.
Asian and European trading sessions:
Euro: The EUR / USD pair strengthened during the Asian session to the level of $1.3451 on positive anticipations of the second three -year operation LTRO, for providing unlimited liquidity to European banks by the ECB for 3 years term with the annual rate of 1%. EUR / USD: steam rose in the area of $ 1.3450.
U.S Dollar: The dollar Index was showing the negative dynamics at both sessions. These kinds of dynamics were caused by the positive which was coming from the major European stock exchanges. The market participants also expected the good news of macroeconomic data from the U.S, which had to be published later today.
British Pound: The GBP / USD pair traded today mostly in upward trend. During the European session the couple showed a growth to $1.5833level. The pound was supported by the report on the index of retail sales from the Confederation of British Industry (CBI). The February’s value of this index resulted an improvement and was much better than forecasts.
Australian and New Zealand dollars: The Australian and New Zealand dollars showed today mostly negative trading dynamics on the background published information ,that the Standard & Poor’s, international rating agency downgraded Greece ‘s credit rating to SD (selective default).
American trading session:
Euro: The EUR / USD pair almost reached a three-month high again at the level of $1.3470. The support for that growth was provided by the decision of ECB to allocate 500 billion euro for European banks on Wednesday.
Oil: Oil dropped after report on U.S. Durable Goods orders, which fell in January to the, the three years minimum. The report indicated a slowing of economic growth and reducing demand for fuel. The April’s WTI futures fell to 106.48 dollars per barrel.
Gold: March Gold futures prices rose to 1785.9 dollars per ounce today. Gold became more expensive due to the decision of the European Central Bank to allocate 500 billion euro for market on Wednesday
Technical analysis for 29/02
EURUSD
The pair has risen and found resistance at Fibonacci 50% level at 1.34882. The pair may breaks this level out and then will try to rise to the Moving Average (500) at 1.36708.
Resistance: 1.35984, 1.37486, 1.38554
Support: 1.34882, 1.33143, 1.31674
GBPUSD
The pair is trying to break Moving Average (500) 1.59093 and will try to raise to 1.60322.
Resistance: 1.60322, 1.62050, 1.63316
Support: 1.58543, 1.56722, 1.54842
USDCHF
The pair has reached support 0.89635 and trying to break it. It may bring pair to test the next support level at 0.88418.
Resistance: 0.89635, 0.91079, 0.92026
Support: 0.88418, 0.87214, 0.85939
USDJPY
The pair has reached Moving Average (500) at 81.399 and may roll back to 79.707.
Resistance: 81.399, 82.219, 83.065
Support: 80.438, 79.707, 79.070
AUDUSD
The pair has broken 1.07739 and aiming to 1.08413.
Resistance: 1.08413, 1.09112, 1.09782
Support: 1.07739, 1.07005, 1.06164