Trading news

Silver and Gold continues to fall. U.S. currency keeps rising against Euro and Yen.

At this time, the price of silver trading continues to break the negative barrier 19.00 and tries to stabilize below the mentioned level, backing expectations of consistent downward trend which reside nearby targets at 18.40 and extends to 16.75.

The expected general tendency for today: DOWN. The precious metal -Gold- is continuing to fall. The price of gold begins trading today clearly bearish tendency approaching the descending channel support around 1210.00, to continue our expectations downward direction effectively, pending a further decline in the short term and medium term.

The trading range expected for today is between: support at 1210.00 and resistance 1280.00 As for currencies, the U.S. currency stabilized on Wednesday at its highest levels in three weeks to maintain increasing direction for the second consecutive session. This comes after positive economic data boosted optimism the recovery of the U.S. economy and the increased expectations that reduces the Federal Reserve program to facilitate the cash.

The positive economic data boosted stocks and lifted gains of U.S. Treasury bonds, which in turn gave support to the American Dollar. In contrast, the Euro was down for the second consecutive day and Yen returned to decline thanks to the direction of investors to buy the US Dollar as a result of the U.S. data and the beginning of China's Central Bank to take measures that will calm down investor concerns about the liquidity crisis.

Sterling recorded, during the sessions on Tuesday, decrease by 0.1 percent against the U.S. Dollar, after only one day of the pound recovered from its lowest level in three weeks of $ 1.5343. Speaking today from London, Mr. Mervyn King, governor of the Bank of England, will be speaking about the country's economic situation and expectations for growth and inflation and talking about the recent monetary policy of the Bank. It worths to say that the central bank issues its first report this year for financial stability.

Wednesday, 26 Jun, 2013 / 9:59

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