FOREXYARD: Forex News Blog

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Market Trends 31.12.12 Posted: 31 Dec 2012 02:55 AM PST Hey Everyone, Below are some market trends for today. Good luck! -Dan Gold- May see downward movement today Support- 1654.99 Resistance- 1675.97 Silver- May see downward movement today Support- 29.82 Resistance- 30.42 Crude Oil- May see downward movement today Support- 89.64 Resistance-91.43 Dax 30- May see upward movement today Support- 7568.27 Resistance- 7700.00 EUR/USD May see upward movement today Support- 1.3056 Resistance- 1.3280 Read more forex news on our forex blog

Market Review 31.12.12 Posted: 31 Dec 2012 02:54 AM PST The euro took moderate losses against the US dollar in overnight trading, as concerns regarding the ability of US lawmakers to reach a budget deal before the "fiscal cliff" of tax increases and budget cuts, led to risk aversion in the marketplace. The EUR/USD, currently trading at 1.3185, fell close to 50 pips during the Asian session. Gold was able to benefit from the risk aversion in the marketplace, and gained close to $12 an ounce during the Asian session. The precious metal is currently trading at $1668. Main News for Today Today is the last day US congressional leaders have to reach a deal before automatic tax increases and spending cuts go into effect, which threaten to send the US back into recession. If an agreement is not reached in time, risk aversion may boost safe-haven currencies like the US dollar and Japanese yen. Read more forex news on our forex blog

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