Daily market review on the 12.09.2014

Daily market review

EUR/USD continues to trade in a narrow range lower than 1.30. The asset remains under pressure and there are still some tendencies for a further decrease. GBP/USD continues to consolidate after its active rise. The pair’s raise impetus was a result of the preliminary survey dedicated to the Independence in Scotland. At this time the survey does not show any superiority between the sides. The Scottish referendum will be held on the 18th of September and until that moment GBP/USD remains in limbo. USD/JPY continues to renew its 6-month highs and has currently succeeded to strengthen higher 107.00, which is a positive signal for selling the asset. Gold has renewed its 9-month lows and remains under pressure.

Market news

Important statistics for Europe and the USA are expected today. As to Europe we recommend to pay attention to the statistics for Industrial production, the data is expected to be better than the previous one and can positively impact the euro. No important statistics for the UK will be published. As regards to the USA, the report on retail sales will be released, the forecast is positive and can influence the American dollar.

Our recommendations

EUR/USD EUR/USD trades in a narrow range. Moving averages stay horizontally but there might be a further increase. The important level that prevents the rise is located at 1.2950. The important levels that prevent the fall are located at 1.2913 and 1.2896. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

 

GBP/USD GBP/USD tends to increase in value. Moving averages stay horizontally but there might be a further increase. The important levels that prevent the rise are located at 1.6249 and 1.6276. The important levels that prevent the fall are located at 1.6214 and 1.6185. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

 

AUD/USD The Australian dollar remains under strong selling pressure. Moving averages stay down which show a further decrease. The important levels that prevent the rise are located at 0.9107 and 0.9216. The important level that prevents the fall is located at 0.9053. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

 

USD/JPY The pair trades near its 6-month highs. Moving averages stay down which show a further decrease. The important level that prevents the rise is located at 107.38. The important levels that prevent the fall are located at 106.95 and 106.64. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

 

GOLD Gold remains under strong pressure. Moving averages stay down which show a further decrease. The important levels that prevent the rise are located at 1242 and 1250. The important level that prevents the fall is located at 1232. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

 

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