FOREX TIPS: November 2012

Friday, November 30, 2012

FOREXYARD: Forex News Blog

Link to Forex Trading Education : Forex Trading Blog by FOREXYARD

Posted: 28 Nov 2012 02:38 AM PST

The Japanese yen posted gains vs. both the US dollar and euro during overnight trading, as concerns regarding the upcoming US "fiscal cliff", a batch of automatic tax increases and spending cuts set to take place at the beginning of the year, led to risk aversion in the marketplace. Negotiations to come up with a way to avoid the "fiscal cliff" between US Congressional leaders appear to have made little progress.

Fears that the "fiscal cliff" could send the US back into recession also weighed down on the price of gold, which fell more than $3 an ounce last night. Crude oil fell just over $0.40 a barrel amid signs that demand in the US is slowing down.

Main News for Today

US New Home Sales- 15:00 GMT
• Today's figure is forecasted to come in at 387K, slightly lower than last month's
• Any worse than expected news could lead to additional dollar losses against the yen

US Crude Oil Inventories- 15:30 GMT
• US inventories are forecasted to have gone up by 0.5M barrels last week
• A higher than expected figure today would signal decreased demand in the US, which would weigh down on oil prices in afternoon trading

Read more forex news on our forex blog

Market Trends 28.11.12

Posted: 28 Nov 2012 02:33 AM PST

Hey Everyone,

Below are some market trends for today.

Good luck!

-Dan

Gold- May see upward movement today
Support- 1729.32
Resistance- 1747.82

Silver- May see upward movement today
Support- 33.30
Resistance- 34.46

Crude Oil- May see downward movement today
Support- 85.66
Resistance- 88.01

Dax 30- May see downward movement today
Support- 7223.26
Resistance- 7419.34

EUR/USD May see upward movement today
Support- 1.2882
Resistance- 1.2994

Read more forex news on our forex blog

Thursday, November 29, 2012

FOREXYARD: Forex News Blog

Euro Reverses Gains Ahead of US Durable Goods Report
Market Trends 27.11.12
Market Review 27.11.12

Euro Reverses Gains Ahead of US Durable Goods Report

Posted: 27 Nov 2012 04:39 AM PST

The euro took losses against both the US dollar and Japanese yen during morning trading, as risk taking among investors following the approval of a new round of Greek bailout funds appears to have cooled off.

The EUR/USD has fallen close to 50 pips since the beginning of European trading, and is currently trading at 1.2948. Against the Japanese yen, the common currency has given up more than 60 pips since this morning, and is currently trading at 106.25.

Turning to the rest of the day, analysts are warning that the US Core Durable Goods Orders Report is likely to come in well below last month’s, signaling that US businesses are investing less ahead of the upcoming “fiscal cliff”. Should the indicator come in below expectations when it is released at 13:30 GMT, risk aversion may result in the euro extending its losses against the JPY.

Market Trends 27.11.12

Posted: 27 Nov 2012 01:51 AM PST

Hey Everyone,

Below are some market trends for today.

Good luck!

-Dan

Gold- May see downward movement today
Support- 1734.22
Resistance- 1769.04

Silver- May see downward movement today
Support- 33.48
Resistance- 35.09

Crude Oil- May see downward movement today
Support- 89.01
Resistance- 86.86

Dax 30- May see upward movement today
Support- 7228.75
Resistance- 7419.72

EUR/USD May see downward movement today
Support- 1.2879
Resistance- 1.3070

Read more forex news on our forex blog

Market Review 27.11.12

Posted: 27 Nov 2012 01:49 AM PST

The marketplace saw moderate risk taking during Asian trading last night, after euro-zone finance ministers agreed to terms for providing Greece with a new round of bailout funds.

The price of crude oil advanced close to $0.40 a barrel, eventually reaching as high as $88.10, before dropping to its current level of $87.95.

The EUR/USD gained around 20 pips to trade as high as 1.2993, before giving up virtually all of its gains during early morning trading.

Gold prices saw very little movement in overnight trading, and remain within reach of the psychologically significant $1750 an ounce level.

Main News for Today

US Core Durable Goods Orders- 13:30 GMT
• Forecasted to come in at -0.6%, significantly below last month's 2.0%
• Any disappointing data could result in the USD/JPY taking losses during afternoon trading

US CB Consumer Confidence- 15:00 GMT
• Forecasted to come in slightly higher than last month's figure
• Better than expected news could result in risk taking, which may lead to gains for crude oil during the second half of the day

Read more forex news on our forex blog

Wednesday, November 28, 2012

FOREXYARD: Forex News Blog

Market Trends 26.11.12

Posted: 26 Nov 2012 01:36 AM PST

Hey Everyone,

Below are some market trends for today.

Good luck!

-Dan

Gold- May see downward movement today
Support- 1733.77
Resistance- 1767.18

Silver- May see downward movement today
Support- 33.40
Resistance- 34.98

Crude Oil- May see upward movement today
Support- 89.47
Resistance- 86.45

Dax 30- May see downward movement today
Support- 7183.63
Resistance- 7419.05

EUR/USD May see upward movement today
Support- 1.2857
Resistance- 1.3069

Read more forex news on our forex blog

Market Review 26.11.12

Posted: 26 Nov 2012 01:24 AM PST

The euro took moderate losses during overnight trading, following an election in Catalonia, Spain's wealthiest region, in which pro-separatist political parties scored some victories. The news led to speculations that Spain will continue to delay requesting a euro-zone bailout. The EUR/USD fell close to 25 pips during the Asian session, while the EUR/JPY dropped more than 70 pips.

The price of crude oil fell around $0.30 during the first half of the night, eventually trading as low as $87.85, before staging an upward recovery and bouncing back to its current level of $88.15.

After shooting up close to $20 an ounce on Friday, gold was able to largely hold onto its recent gains during the Asian session as hopes that a deal to unlock a new round of Greek bailout funds will soon be reached. The precious metal is currently trading at the $1750 level.

Main News for Today

Eurogroup Meetings- All Day
• The Eurogroup consists of finance ministers from throughout the euro-zone
• The main topic of discussion for today is how to provide Greece with a new round of bailout funds
• If a deal is reached to provide Greece with the funds, the euro could see gains throughout the day

Read more forex news on our forex blog