Finotec News Archive - January 24 2008

In Depth Analysis

GBP/USD – Sterling may continue the uptrend after U.S. economy fell into a recession. - The U.S. economy fell into a recession last month and cannot avoid a ``hard landing'' because of missteps by Federal Reserve policy makers, according to Nouriel Roubini, chairman of Roubini Global Economics LLC.

Commodities News

Oil Rises on Expectations For Fed cut Next Week - Investors are expecting another rate cut of 0.25%-0.5% when the central bank meets again on Jan. 30

Gold Shines on higher Oil prices - The gold is on the way to break the resistance level of 900.0$ in a week

Forex Pairs Daily Analysis

EUR/USD-The pair trades above the MA line - Market strategy is to buy a bounce sell a break of 1.4490 (61.8% Fibonacci)

GBP/USD-The next support comes at 1.9500 - Market strategy is to sell a failure to break the 1.9660 resistance level

USD/JPY-The pair bounced from the upper standard error channel - Market strategy is to buy a bounce of the 105.95 support level.

Forex Daily Analysis

The Yen Recovered versus Majors - "Investors booked profits on the Japanese crosses, it giving the yen a push to strength against majors Currencies", Reported Finotec’s dealing desk

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