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Fundamentals

Forex Center > News > Fundamentals

Fundamental analysis for precious metals gold - 7/24/2008

Yesterday we expected that the 38.2% correctional level will be weak and today the metal is consolidating around the 50% correction. Gold needs to incline where the ADX indicator gave a signal that the direction will be altered at the moment. From here we expect gold to retest the 38.2% correctional... (Today 3:21 AM EST)

Fundamental analysis for precious metals silver - 7/24/2008

The metal failed to remain above the 61.8% correctional level but despite that we see the chance for a corrections to the upside. Prices in general have been trading sideways over the medium term between 18.80 and 16.20. The trading range is seen among 16.80 support levels and 18.44 resistance level... (Today 3:21 AM EST)

CHF/USD Fundamental Outlook at 1500 GMT (EST + 0500)

The Swiss franc depreciated vis-à-vis the U.S. dollar today as the greenback tested offers around the CHF 1.0400 figure and was supported around the CHF 1.0290 level. (Jul 23, 2008 3:38PM)

GBP/USD Fundamental Outlook at 1500 GMT (EST + 0500)

The British pound appreciated vis-à-vis the U.S. dollar today as cable tested offers around the US$ 2.0030 level and was supported around the $1.9900 figure. Technically, today’s intraday high was right around the 38.2% retracement of the move from $2.1160 to $1.9335. (Jul 23, 2008 3:36PM)

CNY/USD Fundamental Outlook at 1500 GMT (EST + 0500)

The yen depreciated vis-à-vis the U.S. dollar today as the greenback tested offers around the ¥107.90 level and was supported around the ¥107.15 level. Technically, today’s intraday low was right around the 23.6% retracement of the move from ¥102.65 to ¥108.55. (Jul 23, 2008 3:34PM)

EUR/USD Fundamental Outlook at 1500 GMT (EST + 0500)

The euro fell sharply vis-à-vis the U.S. dollar today as the single currency tested bids around the US$ 1.5670 level and was capped around the $1.5795 level. Technically, today’s intraday low was right around the 50% retracement of the move from $1.5305 to $1.6040. (Jul 23, 2008 3:32PM)