Daily market review on the 01.09.2014

Daily market review

The market has opened on the same levels, as it closed on last Friday showing no significant fluctuations. EUR/USD is still under the pressure, and has renewed its one-year low at this time. Decreasing in value was caused by the negative statistics for the Consumer price index. The inflation rate in the end of July was located at 0.4%, and fell to 0.3% in August, but the ECB considers that it should not be lower than 2%. It’s quite possible, that some measures aimed at stimulating the economy in Europe will be applied. GBP/USD tends to stabilize. Gold continues to trade in a narrow range, a strong driver is needed to get out of that level.

Market news

The important statistics for Europe and the UK are expected today. Today is an official holiday in the USA. As to Europe, we recommend to pay attention to the statistics for GDP in Germany, the data is expected to be on the same level, but in case of negative results it can impact the euro. Later this day the statistics for the Manufacturing Activity Index are to be published, the data is expected to be on the same level. The forecast for the Manufacturing Activity Index in the UK is expected to be negative in comparison with the previous one and can influence the British currency.

Our recommendations

EUR/USD EUR/USD is under the strong pressure. Moving averages stay up that show a further increase. The key resistance levels are located at 1.3142 and 1.3194. The key support level is located at 1.3118. We recommend to sell Put Options from the resistance levels and to buy Call Options from the support levels.

 

 

GBP/USD GBP/USD tends to gradually stabilize. Moving averages stay up that show a further increase. The key resistance level is located at 1.6612. The key support levels are located at 1.6589 and 1.6562. We recommend to sell Put Options from the resistance levels and to buy Call Options from the support levels.

 

 

AUD/USD The Australian dollar tends to increase in value. Moving averages stay up that show a further increase. The key resistance levels are located at 0.9346 and 0.9361. The key support level is located at 0.9323. We recommend to sell Put Options from the resistance levels and to buy Call Options from the support levels.

 

 

USD/JPY The pair continues to rise. Moving averages stay horizontally, but there might be a further increase. The key resistance level is located at 104.21. The key support levels are located at 104.02 and 103.80. We recommend to sell Put Options from the resistance levels and to buy Call Options from the support levels.

 

 

GOLD Gold trades in a narrow range. Moving averages stay horizontally, but there might be a further increase. The key resistance level is located at 1291. The key support levels are located at 1286 and 1283. We recommend to sell Put Options from the resistance levels and to buy Call Options from the support levels.

 

 

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