Thursday, November 15, 2012

FOREXYARD: Forex News Blog

FOREXYARD: Forex News Blog

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Market Trends 13.11.12

Posted: 13 Nov 2012 01:47 AM PST

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Hey Everyone,

Here are some predictions for today.

Good luck!

-Dan

Gold- May see upward movement today
• Support- 1714.83
• Resistance- 1736.66
Silver- May see upward movement today
• Support- 31.84
• Resistance- 32.72
Crude Oil- May see downward movement today
• Support- 84.41
• Resistance- 86.69
DAX30- May see upward movement today
• Support- 7041.72
• Resistance-7214.75
EUR/USD- May see downward movement today
• Support- 1.2587
• Resistance- 1.2805

Market Review 13.11.12

Posted: 13 Nov 2012 01:44 AM PST

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The euro fell to a new two-month low against the US dollar during overnight trading, after euro-zone officials failed yesterday to agree on a plan for Greece to receive a new round of bailout funds.

Additionally, investors are still concerned with the prospect that massive tax increases in budget cuts in the United States will automatically occur if congress is unable to reach a budget deal. The threat of the so called "fiscal cliff" resulted in other higher yielding currencies and commodities, including the AUD and crude oil, taking losses during the Asian session.

Main News for Today

German ZEW Economic Sentiment- 10:00 GMT
• Recent fears that the EU debt crisis is spreading to Germany means that this indicator is likely to take on added importance when it is released today
• Analysts are forecasting the figure to come in at -9.9, slightly better than last month's -11.5
• Any worse than expected data could result in the euro extending its recent losses
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