Finotec News Archive - January 3 2008

In Depth Analysis

GBP/JPY - The Yen is well-bid as there is a combination of dollar weakness! - The Yen hit a five week peak against euro and rose versus dollar on Thursday as risk aversion.

Commodities News

Crude Oil around record high 100$ a barrel - The traders will be focused on U.S. crude oil weekly stock which will be released at 15:30 GMT; sharp decline will give strong support to the oil prices.

Gold broke the psychological resistance of 850$, pushing upwards - Technically speaking the next resistance level stands at 880$ an ounce.

Forex Pairs Daily Analysis

USD/CHF - The market strategy is to sell on a break of 111.50 buy a failure

EUR/USD - Market strategy is to buy on a break of the 1.4750resistance level

GBP/USD - Market strategy is to buy on a failure to break the 1.9705 level

USD/JPY - Market strategy is to sell on a break of the support level 108.50

Forex Daily Analysis

U.S dollar recovers after a sharp drop to a low 1.4749 via euro - Today the traders will be focused on the data which will be provided from U.S. such as ADP nonfarm employment that will be released at 13:15 GMT and also will be a close look to a unemployment claims at 13:30 GMT.

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