Daily market review for 02.10.2014

Daily market review

EUR/USD attempts to rise, and has succeeded to partly stabilize. Consolidation was necessary and a further decrease is not possible without that. Currently there are some tendencies for a further fall. Investors retain an interest in selling the asset. Generally, the USD trades quite positively in comparison to other currencies. The US Dollar Index actively decreases in value. GBP/USD, just like EUR/USD, tends to gradually stabilize. USD/JPY corrects after its active rise. Gold attempts to gradually stabilize and there are new tendencies for a further increase in value.

Market news

Important statistics for Europe, the UK and the USA are expected today. As to the Eurozone, we recommend to pay attention to the announcement of the interest rates, which are expected to remain on the previous level. If the interest rates fall, it can lead to an additional impact on EUR/USD. Later this day, The European Central Bank (ECB) press conference will be held, some significant fluctuations are considered to happen during the event. As to the UK, we recommend to pay attention to the Business Activity Index in the construction sector, the data is expected to be worse than the previous one and can negatively affect the British currency. As regards to the USA, the report on the Initial Jobless Claims will be released, the forecast is negative and can influence the American dollar.

Our recommendations

EUR/USD EUR/USD corrects after its active decrease in value. Moving averages stay up, which show a further increase. The important level that prevents the rise is located at 1.2673. The important levels that prevent the fall are located at 1.2619 and 1.2583. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

 

GBP/USD GBP/USD corrects after its active decrease in value. Moving averages stay up, which show a further increase. The important level that prevents the rise is located at 1.6248. The important levels that prevent the fall are located at 1.6181 and 1.6160. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

 

AUD/USD The Australian dollar gradually stabilizes. Moving averages stay up, which show a further increase. The important level that prevents the rise is located at 0.8813. The important levels that prevent the fall are located at 0.8725 and 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 consolidates after its active rise. Moving averages stay horizontally, but there might be a further increase. The important levels that prevent the rise are located at 109.10 and 109.97. The important level that prevents the fall is located at 108.55. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

 

GOLD Gold currently stabilizes. Moving averages stay up, which show a further increase. The important level that prevents the rise is located at 1222. The important levels that prevent the fall are located at 1213 and 1205. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

 

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