Daily market review for 07.10.2014

Daily market review

There are no significant fluctuations on the market. EUR/USD tends to gradually stabilize. Many investors consider to buy the USD against the other currencies in a medium-term perspective, counting on a further rise of the American dollar. The USD really trades positively and most likely the FOMC protocol on this week can affect it in a good way. GBP/USD has slightly recovered the losses, but the British currency remains under pressure. USD/JPY consolidates after its active rise, and generally tends to increase in value. Gold tends to stabilize, but it’s too early to consider a tendency change.

Market news

Important statistics for the Eurozone, the UK and the USA are expected today. As to the Eurozone, we recommend to pay attention to the German Industrial Production release rate, the data is expected to be worse than the previous one and can negatively affect the euro. As to the UK, the Manufacturing Production rate will be released, the forecast is negative and can impact the British currency. As regards to the USA, we recommend to pay attention to the JOLTs Job Openings report, the figures are expected to be positive and can influence the American dollar.

Our recommendations

EUR/USD EUR/USD tends to gradually stabilize. Moving averages stay horizontally, but there might be a further decrease. The key resistance level is located at 1.2673. The key support levels are located at 1.2602 and 1.2541. 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 key resistance levels are located at 1.6060 and 1.6098. The key support level is located at 1.6025. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

AUD/USD The Australian dollar tends to gradually stabilize. Moving averages stay horizontally, but there might be a further increase. The key resistance level is located at 0.8782. The key support levels are located at 0.8725 and 0.8685. 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 down, which show a further decrease. The key resistance levels are located at 109.21 and 109.84. The key support level is located at 108.64. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

GOLD Gold tends to gradually stabilize. Moving averages stay horizontally, but there might be a further increase. The key resistance level is located at 1209. The key support levels are located at 1203 and 1193. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

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