WorldWideMarkets Community

Forex Trading, Market News & Technical Analysis

Dollar Gains on Iran Accord of Nuclear Arms Reduction, Yen Fell to 101.90

Posted by Chris Advincula on Nov 25, 2013 7:24:00 AM

The Japanese Yen fell against the major currency pairs and the dollar rose to a new four-year high to 101.90 as investors increased short yen positions. The dollar rose sharply to 101.80 from 101.15 in the prior Asian session prompted by the news that U.S. Secretary of State John Kerry and officials from Britain, China, France, Germany and Russia reached an accord with Iran to curtail their nuclear program, after five days of negotiation in Geneva.

Partial or limited sanctions on Iran will be lifted on Iran’s oil exports, auto parts, gold and precious metals. The deal, a decade in the making, would be finally done. However, the talks are far from over. Euro-Yen rose to 137.97 from 137.00. Nikkei rallied by 237.41 points (+1.54%). Brent Oil for Jan 14 delivery fell 1.61% to 109.26 per barrel. US. S&P futures rose to 1810.50 from 1794.00 (+0.90%).

Support:   101.14 -Tokyo Low, 100.96- Low Nov 22, 100.62 - Low Sept 11

Resistance: 102.00 – Psychological Resistance, 102.52 – High May 29, 03.00 -  Psychological

 

Chris Advincula

WorldWideMarkets

 

 

sp.11.25 resized 600

Chart: WorldWideMarkets Alpha Trader

 

describe the image

Chart: WorldWideMarkets Alpha Trader

 

describe the image

Chart: WorldWideMarkets Alpha Trader

 

Tools & Educational Resources

Forex 101LEARN MORE >>
Learn the basics of Forex and how to practice trading the markets.

GlossaryLEARN MORE >>
Confused by the language? Click here and search for key trading terms.

FAQ CenterLEARN MORE >>
Browse our frequently asked questions and find your answers right away.

VideosLEARN MORE >>
Access to the educational lessons, webinars and platform walkthroughs.

READY TO TRY THE MARKETS?

Get started with a FREE $10,000 Demo Account and experience the Forex Market RISK FREE!