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ForexTactics Tips, May 18

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ForexTactics Tips, May 18

Postby MurDaniel » Fri May 18, 2012 8:14 am

Market Reconnaissance:

There is a void of eco data on both sides of the Atlantic today and nothing much in the morning on the Pacific end either.
Morning markets in Asia were clobbered as investors were in full risk mode and unwinding positions for the weekend.
A horrible week in financial markets is ending in an equivalently ugly manner. A round of downgrades for Spanish banks by Moody’s has contributed to further Eurozone‐based strain. An impressively weak showing on the May Philly Fed Index (‐5.8 vs. 10 expected and 8.5 previous) may stoke nerves over the shine coming off of the modest but positive US economic outlook, one of the few sources of optimism globally speaking. Indeed, the US 10yr Treasury yield collapsed to new lows (1.6771%) yesterday

ForexTactics Tips:

Gold rose on Friday, after posting its largest one-day gain in more than three months in the previous session, but prices were on track to drop for a third straight week on mounting worries over the euro zone debt crisis.
Gold added $2.21 an ounce to $1,575.46 by 0253 GMT, off a 4-1/2-month low at $1,527 struck on Wednesday. In the physical market, higher bullion prices prompted selling from jewelers and speculators, but premiums for gold bars were mostly steady at $1.10 to $1.20 to London prices in Singapore. Earlier this week, dealers noted buying interest from Thailand, Indonesia and India.
Gold demand in top consumer India is likely to moderate in 2012 as higher inflation trims disposable income at a time prices are stubbornly high on a weak rupee, the head of the World Gold Council in the country told Reuters.

Base Metals

London copper peeked above four-month lows on Friday on short covering and signs that Greeks are warming to pro-austerity parties, allaying some fears the country could leave the euro zone. Three-month LME copper inched up 0.4 percent to $7,682 a metric ton (1.1023 tons) by 00:25 a.m. EDT, after closing almost flat in the previous session. Copper prices may also have been weighed down this week by a hefty inflow into LME warehouses from China. Traders said China's smelters and merchants may have added around 110,000 tonnes to LME warehouses in South Korea.


U.S. crude futures fell for a fifth straight session on Thursday in choppy trading as U.S. economic data and ongoing worries about the euro zone and Greece's political and debt crisis pressured oil prices on both sides of the Atlantic.
Oil and equities also were pressured by data showing U.S. initial jobless benefits last week held at levels suggesting sluggish growth in hiring and by a separate report showing factory activity in the MidAtlantic region contracted in May.
Crude received support early from news that the U.S. ambassador to Israel said U.S. plans for a possible military strike on Iran is ready and the option is "fully available."
"Forex is 99% Tactics"
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Re: ForexTactics Tips, May 18

Postby Haley12 » Wed May 23, 2012 7:55 am

There is not big change in forex market since May 18 to till now. I am observing it continuesly.
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Re: ForexTactics Tips, May 18

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