Finotec News Archive - November 20 2007

In Depth Analysis

GBP/USD - Sterling bounces back to keep dollar at bay! - The U.K. currency advanced versus 11 of the 16 most-traded currencies today as Japanese shares rose,

Commodities News

Crude oil futures surprise and climbs to 98.60$ - Forecasts that Wednesday's U.S. government inventory data would show a weekly drawdown in distillates, which include heating oil and diesel fuel, drove up heating oil futures.

Gold Futures gains, eyes to 820$ - A lower dollar makes gold, which is denominated in the U.S. currency, cheaper for holders of other currencies. Gold is also often seen as an alternative to holding the greenback.

Forex Pairs Daily Analysis

USD/CHF - The daily trend is bearish ,The target is 1.1080 at new low level.

EUR/USD - The daily trend remains bullish ,The target is 1.4750 at previous resistance level

GBP/USD - The daily trend is bearish but correction expected, The target is 2.0620 at previous resistance level

USD/JPY - The daily trend is bearish,The target is 109.15 at previous support level.

Forex Daily Analysis

Dollar is weak, FOMC minutes on Focus - Many in the market are expecting more Fed rate cuts, The dollar is trading around the levels of 1.4730 against the Euro, around the levels of 110.40 against the Yen and around the levels of 2.0595 against the sterling

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