Daily market review on the 02.09.2014

Daily market review

The euro has been falling for 7 weeks, which is the longest period in history of the union currency. This week brings a lot of important statistics, which can have a significant influence on the market. EUR/USD has renewed its low again, and there are some tendencies for a further decrease in value. GBP/USD keeps falling after a negligible consolidation. GBP/USD trades positively in comparison to EUR/USD. USD/JPY keeps rising and has renewed today its eight-month high at 104.86. Gold is still under the strong selling pressure, and does not succeed to stabilize.

Market news

The important statistics for Europe, the USA and the UK are expected today. Unemployment rate in Spain will be published, the forecast is positive and can impact the euro. As to the UK, we recommend to pay attention to the Business Activity Index in construction industry, the data is expected to be worse than the previous one and can negatively influence the British currency. Regarding the USA, the report on the Manufacturing Activity Index will be released, the data is more negative, compared to the previous one and can impact the American dollar.

Our recommendations

EUR/USD EUR/USD is under the selling pressure. Moving averages stay down that show a further decrease. The important levels that prevent the rise are located at 1.3131 and 1.3144. The important level that prevents the fall is located at 1.3113. We recommend to sell Put Options from the resistance levels and to buy Call Options from the support levels.

 

 

GBP/USD GBP/USD is under the selling pressure. Moving averages stay down that show a further decrease. The important levels that prevent the rise are located at 1.6613 and 1.6642. The important level that prevents the fall is located at 1.6576. We recommend to sell Put Options from the resistance levels and to buy Call Options from the support levels.

 

 

AUD/USD The Australian dollar is under the pressure. Moving averages stay down that show a further decrease. The important levels that prevent the rise are located at 0.9318 and 0.9351. The important level that prevents the fall is located at 0.9284. We recommend to sell Put Options from the resistance levels and to buy Call Options from the support levels.

 

 

USD/JPY The pair trades in a narrow range. Moving averages stay up that show a further increase. The important level that prevents the rise is located at 104.86. The important levels that prevent the fall are located at 104.22 and 104.10. We recommend to sell Put Options from the resistance levels and to buy Call Options from the support levels.

 

 

GOLD Gold is under the selling pressure. Moving averages stay down that show a further decrease. The important levels that prevent the rise are located at 1287 and 1291. The important level that prevents the fall is located at 1280. We recommend to sell Put Options from the resistance levels and to buy Call Options from the support levels.

 

 

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