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Saturday, December 22, 2012

FOREXYARD: Forex News Blog

Link to Forex Trading Education : Forex Trading Blog by FOREXYARD

Market Trends 20.12.12

Posted: 20 Dec 2012 02:05 AM PST

Hey Everyone,

Below are some market trends for today.

Good luck!

-Dan

Gold- May see upward movement today
Support- 1657.53
Resistance- 1692.99

Silver- May see upward movement today
Support- 30.75
Resistance- 31.72

Crude Oil- May see upward movement today
Support- 88.58
Resistance-90.89

Dax 30- May see downward movement today
Support- 7596.12
Resistance- 7700.00

EUR/USD May see upward movement today
Support- 1.3145
Resistance- 1. 3293

Read more forex news on our forex blog

Market Review 20.12.12

Posted: 20 Dec 2012 02:03 AM PST

Following the announcement that the Bank of Japan is initiating a new round of monetary easing last night, the USD/JPY fell slightly more than 40 pips to eventually reach the 84.00 level.

News that US budget negotiations are deadlocked once again caused the euro to remain bearish against the US dollar during Asian trading. The EUR/USD, currently trading at 1.3220, fell close to 50 pips during evening trading yesterday.

Risk aversion due to the US budget impasse caused crude oil to reverse some of its recent gains during the overnight session. The commodity fell some $0.50 a barrel, and is currently trading at $89.55.

Main News for Today

US Unemployment Claims- 13:30 GMT
• Forecasted to come in slightly above last week's figure
• If true, the dollar could take additional losses against its main currency rivals during mid-day trading

US Existing Home Sales- 15:00 GMT
• Forecasted to come in at 4.88M, which if true, would be a significant improvement over last month's figure of 4.79M
• A better than expected figure could lead to gains for the dollar and crude oil during afternoon trading

US Philly Fed Manufacturing Index- 15:00 GMT
• Forecasted to come in at -2.2, which if true, would be a significant improvement over last month's figure of -10.7
• A positive manufacturing figure is likely to boost the dollar during afternoon trading

Read more forex news on our forex blog

Friday, December 21, 2012

FOREXYARD: Forex News Blog

Market Trends 19.12.12

Posted: 19 Dec 2012 02:21 AM PST

Hey Everyone,

Below are some market trends for today.

Good luck!

-Dan

Gold- May see downward movement today
Support- 1660.89
Resistance- 1692.99

Silver- May see downward movement today
Support- 31.32
Resistance- 32.25

Crude Oil- May see downward movement today
Support- 87.81
Resistance-89.56

Dax 30- May see downward movement today
Support- 7582.96
Resistance- 7700.00

EUR/USD May see upward movement today
Support- 1.33373
Resistance- 1.3177

Read more forex news on our forex blog

Market Review 19.12.12

Posted: 19 Dec 2012 01:22 AM PST

The Japanese yen fell to a 16-month low against the euro and a fresh 20-month low against the US dollar during the overnight session, amid continued speculations that the Bank of Japan will soon initiate an aggressive monetary easing policy.

After falling close to $30 an ounce during afternoon trading yesterday amid signs of progress in US budget talks, gold was able to stage a modest upward recovery last night. The precious metal is currently trading at $1673.

Positive developments in the US budget talks also helped the euro stay within reach of a recent 7 ½ month high during overnight trading. The EUR/USD is currently trading at 1.3235.

Main News for Today

German Ifo Business Climate- 09:00 GMT
• The business climate figure is forecasted to come in slightly higher than last month's
• A better than expected figure could help the euro extend its current bullish trend

US Building Permits- 13:30 GMT
• Expected to come in at 0.88M, slightly higher than last month's 0.87M
• Better than expected news could help the dollar recoup some of its recent losses during afternoon trading

Read more forex news on our forex blog