Finotec News Archive - November 13 2007
In Depth Analysis
EUR/USD - Euro hunting new heights as dollar stare from below! - There was little doubt that the European Central Bank would leave rates steady at 4.00 percent last week, but ECB President Jean-Claude Trichet's hawkish tone during his monthly press conference helped keep EUR/USD bid.
Commodities News
Crude down over $3 on lower demand view - "As the market falls through strike levels, momentum increases as traders sell the futures contracts”, said from Finotec dealing desk. Crude Oil future contract is trading around the levels of 91.40$ per barrel.
Gold Fall as Lower Energy Costs Ease Inflation Concern - ``With the energies selling off, there's less demand for gold,'' said from Finotec dealing desk.Gold future contract is trading around the levels of 803.10$ per ounce.
Forex Pairs Daily Analysis
USD/CHF - A failure to break the resistance of 1.1300 will be a selling signal with taget around the levels of 1.1115
EUR/USD - The market strategy will be with the primary trend, Buy at 1.4575 targeting to new high.
GBP/USD - The market strategy buy at 2.0705 will be with tight stop, worry might correction will surprise. Break the support level of 2.0680 will be a strong selling signal target to 2.0525.
USD/JPY - The market strategy is Buy a break of 111.05 targeting to 111.75 and second target at 112.80
Forex Daily Analysis
The US Dollar Is under Selling Pressure - Investors are worries about the U.S. economy . Today, the U.S. government will release its October retail sales report."Publication of any number that will be lower than 0.2% will cause to a new selling flow",said from Finotec Team.