Daily market review on the 13.08.2014

Daily market review

On Tuesday EUR/USD showed an active decrease in value after the negative news for business index confidence in Germany had been published. According to the forecast the statistics should be located at 17, but the real data stayed at 8,6. It’s influenced the euro to be under the pressure. The Business index confidence in Germany has been decreasing for 8 months in a row. Right after that, the US dollar index gets closer to its highs. If other positive news in the USA keep getting published, the US dollar will strengthen. GBP/USD is likely to stabilize, but there’s still a pressure on the British pound. Gold trades in a narrow range, and does not show any further direction.

Market news

Today seems to be an active day on the market. In the statistics for Europe we recommend to pay attention to the Consumer price index in Germany, France and Spain, which is expected not to be worse, than the previous one and can cause the euro to fall. Later the Industrial production statistics are to be published where the positive news are expected. It’s important to pay attention to the Labour market statistics in the UK, the forecast is negative and can have a certain influence on the GBP. Later the Governor of the Bank of England will perform, therefore some significant fluctuations can happen during the speech. Considering the USA, we recommend to pay attention to retail sales statistics, the data is expected to be on the same level, but if it shows better results, the US dollar will strengthen.

Our recommendations

EUR/USD EUR/USD consolidates after the active decrease in value. Moving averages tend to stay horizontally, but there might be a future decrease. The important levels that restrain the growth are located at 1.3368 and 1.3383. The important levels that restrain the fall are located at 1.3358 and 1.3334. We recommend to sell Put Options from the resistance levels and to buy Call Options from support levels.

 

 

GBP/USD GBP/USD tends to stabilize. Moving averages stay horizontally, but there might be a future decrease. The important level that restrains the growth is located at 1.6814. The important levels that restrain the fall are located at 1.6800 and 1.6765. We recommend to sell Put Options from the resistance levels and to buy Call Options from support levels.

 

 

AUD/USD The Australian dollar increases in value. Moving averages stay up, but there might be a future increase. The important level that restrains the growth is located at 0.9286. The important levels that restrain the fall are located at 0.9262 and 0.9247. We recommend to sell Put Options from the resistance levels and to buy Call Options from support levels.

 

 

USD/JPY The pair trades in a narrow range. Moving averages stay horizontally but there might be a future increase. The important level that restrains the growth is located at 102.36. The important levels that restrain the fall are located at 102.22 and 102.09. We recommend to sell Put Options from the resistance levels and to buy Call Options from support levels.

 

 

GOLD Gold trades in a narrow range. Moving averages stay horizontally but there might be a future increase. The important levels that restrain the growth are located at 1309 and 1318. The important levels that restrain the fall are located at 1308 and 1305. We recommend to sell Put Options from the resistance levels and to buy Call Options from support levels.