Daily market review for 10.10.2014

EUR/USD stopped to rise actively and another wave of decrease has begun. The euro remains under pressure and it’s possible to fall further. The US Dollar Index has started to consolidate and there are some tendencies for a further rise. GBP/USD trades negatively, and it’s likely to continue to decrease in value. Generally, the USD trades positively and confidently in comparison to other currencies. USD/JPY remains under selling pressure, but will be able to rise in case of any positive fundamental data for the USA. Gold consolidates after its active rise.

Market news

Important statistics for the UK, the USA and Canada are expected today. As to the UK, we recommend to pay attention to the Trade Balance report, the data is expected to be better than the previous ones and can positively affect the British currency. No statistics for the Eurozone will be published. As to the USA, the Import Price index will be released, the forecast is positive and can affect the American dollar. As regards to Canada, the Employment change report will be published, the figures are expected to be better in comparison to the previous ones and can positively influence the Canadian dollar.

Our recommendations

EUR/USD 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 1.2715 and 1.2790. The important level that prevents the fall is located at 1.2663. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

GBP/USD is under pressure. Moving averages stay horizontally, but there might be a further decrease. The important levels that prevent the rise are located at 1.6134 and 1.6225. The important level that prevents the fall is located 1.6104. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

AUD/USD is under selling pressure. Moving averages stay horizontally, but there might be a further decrease. The important levels that prevent the rise are located at 0.8777 and 0.8897. The important level that prevents the fall is located at 0.8747. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

USD/JPY remains under pressure. Moving averages stay horizontally, but there might be a further increase. The important levels that prevent the rise are located at 107.97 and 108.17. The important level that prevents the fall is located at 107.64. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

GOLD consolidates after its active rise. Moving averages stay horizontally, but there might be a further increase. The important levels that prevent the rise are located at 1225 and 1233. The important level that prevents the fall is located at 1220. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

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