Finotec News Archive - December 28 2007

Commodities News

Crude Oil Surge Due To Inventories Drop - Data showed U.S. crude oil inventories fell 3.3 million barrels in the week to Dec. 21, three times more than forecast. U.S. crude stocks now stand at their lowest in nearly three years

Gold Is Trading Near One-Month High as Crude Oil Increases - “After what happened in Pakistan and the Middle East people just don't want to get short in gold’

Forex Pairs Daily Analysis

USD/CHF - Market strategy is to sell a break buy a failure to break the 1.1335 support level

EUR/USD- The daily trend is bullish - The market strategy is Sell a failure to break the resistance level of 1.4720

GBP/USD - The market strategy is to Sell A failure to break the resistance level of 1.9990

USD/JPY- The hourly trend is bearish - The market strategy is to buy dip at a failure to break the support level of 112.80

Forex Daily Analysis

U.S. Dollar is under A Selling Pressure - The yen surged across the board as weak U.S. economic data and uncertainty after the assassination of Pakistani opposition leader Benazir Bhutto prompted investors to dump risky positions such as carry trades

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