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Market news by traderspulse.com

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Market news by traderspulse.com

Post by traderspulse.com on Tue May 14, 2013 9:09 am

CURRENCIES
EUR/USD The Euro (1.3014) after having broken below the 200 day moving average around 1.299 has bounced back and is currently holding above it. Now the Euro may see a move to 1.3050. Failure to breach past this area may push it down to 1.29.
USD/CHF Dollar-Swiss (0.9530) has retreated a bit in trade after the recent rally. As the Euro (1.3010) may see a few days of upmove, the Dollar-Swiss is likely to stay soft in a range between 0.9490-09570.
USD/JPY Dollar-Yen (101.57) is holding above 101 in trade. We expect the mood of the USD-JPY to stay upbeat. Supports can come in at 100 and upside targets have opened up to 103. However if Equity markets see some retracement going forward we may see the Yen strengthen to 100.
EUR/JPY The Euro-Yen (132.18) like the Dollar-Yen may also target 134 in medium term with support around 130. However it too may see a dip if Equity markets correct a bit in the shorter term.
GBP /USD The Pound (1.5316) has moved lower and may see weakness going forward. However if the Euro sees a move to 1.3050,then the Pound might see a small upmove in the Pound to 1.54. But a breach below 1.53 can take it down to 1.52.
AUD/USD The Aussie (0.9976) is trading below 1.00. The Aussie has turned bearish and any up move will be sold into. A trading band between 0.995-1.005 with chances of a move to 0.995 looks more likely.

COMMODITIES
Gold (1,441.20) has seen a small bounce back from the supports around 1425. With the overall trend still down in Gold, we expect it to trade between 1410-1460, witha downward bias.
Brent (102.95) is trading below 103. We may see Brent dip to 101 where it may see some buying come back. So a move between 101-103 should likely hold.
Silver (23.72) has broken below 23.80 on weakness in global commodities. Silver is expected to trade lower and target 23. Resistances come in at 24.

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