Daily market review for 01.10.2014

Daily market review

The American dollar continues to strengthen in relation to other currencies. The US Dollar Index again has renewed its high. Many investors optimistically consider a rise of the interest rates already in the first quarter of 2015. EUR/USD tends to fall and has renewed its two-year low. If we look at the fundamental side, there are some tendencies for a further fall. GBP/USD, just like EUR/USD, continues to decrease in value. There are some tendencies for a further decline. USD/JPY has renewed its high and tends to rise. Gold remains under pressure, any attempts to stabilize have failed.

Market news

A lot of important statistics are expected today. As to the Eurozone, we recommend to pay attention to the Index of manufacturing activity, the data is expected to be worse than the previous one and can negatively impact the euro. As to the UK, The Manufacturing Purchasing Managers' Index (PMI) will be published, the figures are expected to remain on the same level, but in case of any negative results a further decrease in value is possible. As regards to the USA, The ADP National Employment Report will be released, the forecast is positive and can affect the American dollar. Later this day, the statistics for the Index of manufacturing activity will be published, the figures are expected to be worse in comparison to the previous ones and can negatively impact the American dollar.

Our recommendations

EUR/USD EUR/USD tends to fall. Moving averages stay horizontally, but there might be a further decrease. The key resistance levels are located at 1.2633 and 1.2700. The key support level is located at 1.2570. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

 

GBP/USD GBP/USD tends to fall. Moving averages stay down, which show a further decrease. The key resistance levels are located at 1.6228 and 1.6286. The key support level is located at 1.6165. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

 

AUD/USD The Australian dollar continues to gradually fall. Moving averages stay down, which show a further decrease. The key resistance levels are located at 0.8682 and 0.8757. The key support level is located at 0.8662. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

 

USD/JPY The pair tends to rise. Moving averages stay up, which show a further increase. The key resistance level is located at 110.07. The key support levels are located at 109.83 and 109.55. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

 

GOLD Gold remains under strong pressure. Moving averages stay horizontally, but there might be a further decrease. The key resistance levels are located at 1212 and 1220. The key support level is located at 1204. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

 

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