Wednesday, December 19, 2012

FOREXYARD: Forex News Blog

FOREXYARD: Forex News Blog

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Market Trends 17.12.12

Posted: 17 Dec 2012 02:15 AM PST

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Hey Everyone,

Below are some market trends for today.

Good luck!

-Dan

Gold- May see upward movement today
Support- 1674.65
Resistance- 1699.70

Silver- May see upward movement today
Support- 31.69
Resistance- 33.15

Crude Oil- May see downward movement today
Support- 86.29
Resistance-88.18

Dax 30- May see upward movement today
Support- 7525.93
Resistance- 7630.56

EUR/USD May see downward movement today
Support- 1.3055
Resistance- 1.3186

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Market Review 17.12.12

Posted: 17 Dec 2012 02:05 AM PST

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The USD/JPY shot up to its highest level in more than 1 ½ years during the overnight session, following Japanese elections yesterday and expectations that the Bank of Japan will soon initiate a new round of monetary easing. The pair, which is currently trading just below the 84.00 level, gained some 75 pips when markets opened for the week.

The EUR/USD saw a minor downward correction during Asian trading, but remained close to its highest level since May, which it hit on Friday following a worse than expected US Core CPI figure. The pair, currently trading at 1.3162, fell around 30 pips last night.

After advancing close to $0.70 a barrel when markets opened for the week, crude oil spent the rest of the night range trading, and currently stands at $87.35.

Main News for Today

ECB President Draghi Speaks- 14:30 GMT
• If the ECB President's speech signals positive EU economic growth, the euro could extend its recent bullish trend during afternoon trading

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