Daily market review for 09.10.2014

Daily market review

Wednesday showed some strong movements on the market. The FOMC Protocol publication (Federal Open Market Committee) caused such fluctuations. Fears of too rapid growth of the American dollar led to this activity. EUR/USD intensely corrects and new perspectives for a further increase in value have opened. For a further rise some positive statistics for the Eurozone are necessary. GBP/USD, just like EUR/USD, rises actively, but on the background of the USD fall there are some tendencies for a further increase in value. USD/JPY remains under pressure, a positive data for the USA is necessary in order to perform a further rise. Gold continues to consolidate.

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 Trade Balance, the data is expected to be worse than the previous one and can negatively affect the euro. As to the UK, the interest rates release will be published, the figures are expected to remain on the same level, but in case of any positive results the British currency will continue to rise. As regards to the USA, the Initial Jobless Claims will be published, the forecast is negative and can influence the American dollar.

Our recommendations

EUR/USD EUR/USD trades positively. Moving averages stay horizontally, but there might be a further increase. The important level that prevents the rise is located at 1.2758. The important levels that prevent the fall are located at 1.2718 and 1.2649. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

GBP/USD GBP/USD trades positively. Moving averages stay horizontally, but there might be a further increase. The important level that prevents the rise is located at 1.6197. The important levels that prevent the fall are located at 1.6149 and 1.6031. 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 0.8884. The important levels that prevent the fall are located at 0.8792 and 0.8733. 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 stay horizontally, but there might be a further increase. The important levels that prevent the rise are located at 108.30 and 108.73. The important level that prevents the fall is located at 107.78. 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 up which show a further increase. The important level that prevents the rise is located at 1226. The important levels that prevent the fall are located at 1219 and 1205. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

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