Daily market review on the 09.09.2014

Daily market review

The American dollar continues to strengthen and shows new highs. The US Dollar Index currently trades near its new 14-month highs. As the British pound has decreased significantly, EUR/USD remains under pressure and continues to fall. There are some new tendencies for a further decrease. GBP/USD has renewed its new low and trades lower 1.61. Rumors about the referendum has crippled significantly the British currency. Within the week, the future of GBP/USD will be decided. If Scotland becomes independent, there will be some tendencies for 1.55. Gold remains under pressure and trades near its lows.

Market news

Important statistics for the UK and the USA are expected today. No statistics in Europe are going to be published, therefore the American dollar becomes the main driver in the pair. As to the UK, we recommend to pay attention to the Industrial production statistics, the data is expected to be on the same level, but in case of any negative news, it can additionally impact the British pound. As regards to the USA, we recommend to pay attention to the statistics for the open vacancies, the positive forecast is expected and can influence the American dollar.

Our recommendations

EUR/USD EUR/USD remains under pressure. Moving averages stay down, which show a further decrease. The key resistance levels are located at 1.2899 and 1.2956. The key support level is located at 1.2865. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

 

GBP/USD GBP/USD has renewed its low. Moving averages stay horizontally, but there might be a further decrease. The key resistance levels are located at 1.6121 and 1.6186. The key support level is located at 1.6064. 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 under selling pressure. Moving averages stay down, which show a further decrease. The key resistance levels are located at 0.9287 and 0.9373. The key support level is located at 0.9249. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

 

USD/JPY The pair tends to rise. Moving averages stay horizontally but there might be a further increase. The key resistance level is located at 106.32. The key support levels are located at 105.94 and 105.36. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

 

GOLD Gold trades near its 3-month lows. Moving averages stay horizontally, but there might be a further increase. The key resistance levels are located at 1258 and 1267. The key support level is located at 1251. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

 

This market review is strictly published for general information purposes only and can not be considered as an offer or instruction to perfom certain transactions on the financial and commodity markets. The estimates and recommendations published in this review are the personal opinions of the company's analysts. The company's opinion in regards to tendencies of certain financial tools is relevant to the date of publication. The company will not accept liability for any loss or damage which may arise from use of or reliance on such review. The company ensures that the employees do not have any personal interests in promoting the ideas contained in this review. The document is based on public sources. Any information published in this review can be changed at any time without prior notice. Reprinting, copying and distribution of the information contained in this review may be implemented with the written consent of the company only.