Friday, January 25, 2013

FOREXYARD: Forex News Blog

FOREXYARD: Forex News Blog

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Market Trends 23.01.2013

Posted: 23 Jan 2013 12:55 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- 1683.01
Resistance- 1702.91

Silver- May see upward movement today
Support- 31.79
Resistance- 32.51

Crude Oil- May see downward movement today
Support- 95.44
Resistance-97.25

Dax 30- May see downward movement today
Support- 7635.00
Resistance- 7758.94

EUR/USD May see upward movement today
Support- 1.3186
Resistance- 1. 3396

Read more forex news on our forex blog

Market Review 23.01.2013

Posted: 23 Jan 2013 12:54 AM PST

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The yen extended its bullish run against both the US dollar and euro last night, following the Bank of Japan's decision earlier in the week to initiate weaker than expected monetary easing steps. The USD/JPY fell 60 pips during the Asian session, while the EUR/JPY lost 94 pips.

Meanwhile, a worse than expected Australian CPI figure resulted in the AUD/USD falling close to 40 pips. The pair, which traded as low as 1.0526, has since staged an upward recovery and is currently stable at 1.0550.

Main News for Today

UK Claimant Count Change- 09:30 GMT

• The British unemployment figure is forecasted to come in at 0.4K, significantly higher than last month's
• If today's news comes in at or above the expected level, risk aversion could drive higher-yielding currencies, like the GBP, EUR and AUD, lower during mid-day trading

Read more forex news on our forex blog

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