Daily market review for 06.10.2014

Daily market review

Friday showed some significant fluctuations on the market. EUR/USD has renewed its low and is under strong selling pressure. Some tendencies have opened for a further decline. The market on this week has opened without strong fluctuations. GBP/USD has strengthened lower than 1.60, which is a positive signal for sellers of the asset. A further decrease in value is possible, but strong news is required. USD/JPY continues to trade positively near its highs. Gold has started to fall actively, and has succeeded to strengthen lower than 1200 at this time, which is a positive signal for sellers of the asset.

Market news

A poor newsflow is expected today. As to the Eurozone, only secondary statistics are expected which will not affect the market significantly. No statistics for the UK will be released. As regards to the USA, there’s also a secondary data is expected and will not strongly impact the market. As to Canada, we recommend to pay attention to the Ivey Purchasing Managers' Index, the data is expected to be worse than the previous one and can negatively influence the Canadian dollar.

Our recommendations

EUR/USD EUR/USD is under strong pressure. Moving averages stay horizontally, but there might be a further decrease. The Important levels that prevent the rise are located at 1.2522 and 1.2547. The important level that prevents the fall is located at 1.2499. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

GBP/USD GBP/USD trades negatively. Moving averages stay horizontally, but there might be a further decrease. The important levels that prevent the rise are located at 1.5984 and 1.6083. The important level that prevents the fall is located at 1.5950. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

AUD/USD The Australian dollar is again under pressure. Moving averages stay horizontally, but there might be a further decrease. The important levels that prevent the rise are located at 0.8699 and 0.8804. The important level that prevents the fall is located at 0.8641. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

USD/JPY The pair trades positively. Moving averages stay horizontally, but there might be a further increase. The important level that prevents the rise is located at 109.88. The important levels that prevent the fall are located at 109.53 and 108.86. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

GOLD Gold trades positively. Moving averages stay horizontally, but there might be a further decrease. The important levels that prevent the rise are located at 1190 and 1196. The important level that prevents the fall is located at 1183. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

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