FOREXYARD: Forex News Blog

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Market Trends 29.11.12 Posted: 29 Nov 2012 02:48 AM PST Hey Everyone, Below are some market trends for today. Good luck! -Dan Gold- May see upward movement today Support- 1714.16 Resistance- 1734.67 Silver- May see upward movement today Support- 33.10 Resistance- 34.12 Crude Oil- May see upward movement today Support- 86.09 Resistance- 88.10 Dax 30- May see downward movement today Support- 7289.04 Resistance- 744.71 EUR/USD May see upward movement today Support- 1.2892 Resistance- 1.3067 Read more forex news on our forex blog

Market Review 29.11.12 Posted: 29 Nov 2012 02:46 AM PST Higher yielding assets, including the euro, gold and silver, took moderate losses during overnight trading before rebounding during the early morning session. Investor concerns regarding a lack of details in the recent Greek bailout agreement and the upcoming US "fiscal cliff, were largely responsible for risk aversion in the market yesterday. The price of crude oil remained bullish throughout the Asian session. The US Crude Oil Inventories report, which indicated high demand among American consumers, resulted in the commodity advancing over $1 a barrel since afternoon trading yesterday. Main News for Today Italian 10-Year Bond Auction • If the bond auction shows that Italian borrowing costs have gone up, the euro may take losses against its main currency rivals as a result US Prelim GDP- 13:30 GMT • The GDP figure is forecasted to come in at 2.8%, which would signal an improvement in the US economic recovery • A higher than expected figure could result in risk taking, which would boost currencies like the euro and AUD US Unemployment Claims- 13:30 GMT • The unemployment claims figure is forecasted to come in at 392K • A lower than expected figure could help the USD vs. the JPY US Pending Home Sales= 15:00 GMT • Pending home sales are forecasted to have increased from 0.3% to 0.9% • A better than expected figure today could help the US dollar against the Japanese yen Read more forex news on our forex blog

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