Daily market review on the 12.08.2014

Daily market review

Today seems to be a more active day on the market. The euro was down against the dollar and fell again lower than 1.34, which was definitely the positive news for those traders who planned to sell the asset. The US dollar index still remains near its highs that negatively impacts the euro. The GBR/USD pair stays near recent lows, but does not approach a lower level. A strong hit is needed to make the price move further. The Japanese yen remains under the pressure related to most currencies. Demand for safe assets decreases, which makes the Japanese yen and Gold weaker. Gold stays under the pressure and it’s unlikely to stabilize. There are some possibilities for future rise.

Market news

The important statistics for Europe and the USA are expected today. Considering Europe you should pay attention to Consumer Price Index in Italy which is expected to be on the previous level, so significant fluctuations don’t seem to appear. Later the statistics for the Economic Sentiment Indicator in Germany are to be published, the data is expected to be worse than the previous one and it can lead to future decrease of the euro in value. For statistics in the USA we recommend you to pay attention to statistics for open vacancies, the positive results are expected that can strengthen the US dollar.

Our recommendations

EUR/USD The pair remains under the selling pressure. Moving averages tend to stay horizontally but there might be a future decrease. The resistance levels are located at 1.3384 and 1.3394. The support level is located at 1.3365. From the resistance levels we recommend to sell put options, from the support levels we recommend to buy Call Options.

 

 

GBP/USD The pair remains near its lows. Moving averages tend to be down, that shows a future decrease. The resistance levels are located at 1.6777 and 1.6794. The support level is located at 1.6761. From the resistance levels we recommend to sell Put Options, from the support levels we recommend to buy Call Options.

 

 

AUD/USD The Australian dollar tends to decrease in value. Moving averages tend to stay horizontally but there might be a future decrease. The resistance levels are located at 0.9267 and 0.9285. The support level is located at 0.9247. From the resistance levels we recommend to sell Put Options, from the support levels we recommend to buy Call Options.

 

 

USD/JPY The pair tends to rise. Moving averages stay up, that shows a future increase. The resistance level is located at 102.36. The support levels are located at 102.26 and 102.02. From the resistance levels we recommend to sell Put Options, from the support levels we recommend to buy Call Options.

 

 

GOLD The Gold is still under the pressure. Moving averages tend to be down, that shows a future decrease. The resistance levels are located at 1309 and 1312. The support level is located at 1305. From the resistance levels we recommend to sell Put Options, from the support levels we recommend to buy Call Options.