Daily market review on the 03.09.2014

Daily market review

The American dollar continues to strengthen in comparison to other currencies. The US Dollar index has reached its new high and currently trades higher than 83. The positive data for USD has negatively impacted the EUR/USD pair, despite of the fact that it was under the strong pressure. Soon the pair could trade at 1.30 or even lower. GBP/USD has renewed its seven-month low and keeps decreasing in value. A referendum on the 18th of September will make a strong influence on the British currency and many investors are waiting for this moment to determine GBP’s next move. Gold keeps falling and has renewed its two-month low.

Market news

The important statistics for Europe, the UK and the USA are expected today. We recommend to pay attention to the statistics for the Business activity index in the services sector in Spain, Italy, France and Germany. The data is expected to be worse than the previous one and can negatively impact the euro. The same report will be published in the UK and the forecast is also negative and can influence the British currency. As to the USA, we recommend to pay attention to the Production Order statistics report, the positive data is expected and can impact the American dollar.

Our recommendations

EUR/USD EUR/USD trades in a narrow range. Moving averages stay down that show a further decrease. The key resistance levels are located at 1.3126 and 1.3135. The key support level is located at 1.3121. 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 strong selling pressure. Moving averages stay horizontally but there might be a further decrease. The key resistance levels are located at 1.6472 and 1.6490. The key support level is located at 1.6444. We recommend to sell Put Options from the resistance levels and to buy Call Options from the support levels.

 

 

 

AUD/USD The Australian dollar trades in a narrow range. Moving averages stay up that show a further increase. The key resistance levels are located at 0.9286 and 0.9302. The key support level is located at 0.9262. We recommend to sell Put Options from the resistance levels and to buy Call Options from the support levels.

 

 

USD/JPY The pair trades near its highs. Moving averages stay down that show a further decrease. The key resistance level is located at 105.29. The key support levels are located at 104.91 and 104.76. We recommend to sell Put Options from the resistance levels and to buy Call Options from the support levels.

 

 

GOLD Gold is under the strong pressure. Moving averages stay horizontally, but there might be a further increase. The key resistance levels are located at 1268 and 1278. The key support levels is located at 1262. We recommend to sell Put Options from the resistance levels and to buy Call Options from the support levels.

 

 

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