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Monday, December 3, 2012

FOREXYARD: Forex News Blog

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Market Trends 30.11.12

Posted: 30 Nov 2012 02:48 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- 1718.79
Resistance- 1739.87

Silver- May see upward movement today
Support- 33.58
Resistance- 35.09

Crude Oil- May see upward movement today
Support- 86.88
Resistance- 88.63

Dax 30- May see downward movement today
Support- 7286.43
Resistance- 7448.25

EUR/USD May see upward movement today
Support- 1.3070
Resistance- 1.2939

Read more forex news on our forex blog

Market Review 30.11.12

Posted: 30 Nov 2012 02:46 AM PST

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The euro hit a five-week high against the US dollar during morning trading today, as confidence that US Congressional leaders will soon reach a deal to avoid the upcoming "fiscal cliff" encouraged risk taking in the marketplace.

Speculations that the Bank of Japan will initiate a new round of monetary easing next month caused the yen to fall against several of its main rivals during the Asian session. The EUR/JPY shot up to a seven-month high while the USD/JPY hit its highest point in one-week.

Main News for Today

Canadian GDP- 13:30 GMT
• Analysts are forecasting the GDP figure to come in at 0.1%, which would represent increased economic activity in Canada
• Any better than expected data could result in gains for the Canadian dollar

Read more forex news on our forex blog

Saturday, December 1, 2012

FOREXYARD: Forex News Blog

Market Trends 29.11.12

Posted: 29 Nov 2012 02:48 AM PST

printprofile

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

printprofile

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