Daily market review for 08.10.2014

Daily market review

EUR/USD continues to trade positively and it is considered to perform a much stronger correction. There are some tendencies to correct up to 1.28, but a positive newsflow for the Eurozone and a negative data for the USA are necessary for that. If some positive statistics for the USA continue to be published, EUR/USD will perform a further decrease. GBP/USD continues to trade in a narrow range. There are some tendencies for a further rise, but a positive fundamental data for the UK is necessary. USD/JPY remains under pressure. Gold continues to trade in a narrow range, but perspectives for a further rise are still actual.

Market news

Important statistics for the UK and the USA are expected today. As to the UK, we recommend to pay attention to the the Halifax House Price Index, the data is expected to be better than the previous one and can positively affect the British currency. No important statistics for the Eurozone will be published today. As to the USA, we recommend to pay attention to the FOMC protocol publication, some strong movements are considered to happen in both directions during the release.

Our recommendations

EUR/USD EUR/USD trades positively. Moving averages stay up, which show a further increase. The important level that prevents the rise is located at 1.2681. The important levels that prevent the fall are located at 1.2613 and 1.2582. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

GBP/USD GBP/USD trades in a narrow range. Moving averages stay horizontally, but there might be a further decrease. Important levels that prevent the rise are located at 1.6109 and 1.6128. The important level that prevents the fall is located at 1.6043. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

AUD/USD The Australian dollar trades positively. Moving averages stay horizontally, but there might be a further increase. The important level that prevents the rise is located at 0.8823. The important levels that prevent the fall are located at 0.8798 and 0.8725. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

USD/JPY The pair remains under pressure. Moving averages horizontally, but there might be a further increase. The important levels that prevent the rise are located at 108.37 and 109.22. The important level that prevents the fall is located at 107.80. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

GOLD Gold trades in a narrow range. Moving averages stay down, which show a further decrease. The important levels that prevent the rise are located at 1211 and 1213. The important level that prevents the fall is located at 1205. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

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