Daily market review on the 14.08.2014

Daily market review

Yesterday brought a lot of market movements. EUR/USD still remains under the selling pressure, and there’s a perspective for a future decrease in value. The US dollar index continues to trade near its highs. The most attention was paid to GBP/USD that fell actively. In the press conference the Governor of the Bank of England Mark Carney stated that interest rates would not rise in the nearest future. The forecast for wage growth negatively impacted the British pound. Those traders who are willing to sell the GBP/USD pair are expecting a future fall of the asset. The Gold was decreasing in value in the first half of the day but stabilized during another half. Investors are expecting a future rise of the asset.

Market news

The important statistics for Europe and the USA are expected today. We recommend to pay attention to the GDP statistic in Germany that is expected to be worse than the previous one and can certainly influence the euro to decrease in value. Later the statistics for the Consumer price index in Europe are to be published, the data is expected to be worse and can negatively impact the euro. Considering the USA we recommend to pay attention to the statistics for the applications for US unemployment benefits, the negative data is expected and can negatively impact the US dollar.

Our recommendations

EUR/USD EUR/USD remains under the pressure and trades in a narrow range. Moving averages tend to stay horizontally, but there might be a future decrease. The resistance levels are located at 1.3365 and 1.3412. The support levels are located at 1.3354 and 1.3340. We recommend to sell Put Options from the resistance levels and to buy Call Options from support levels.

 

 

GBP/USD GBP/USD has renewed its lows. Moving averages stay horizontally, but there might be a future decrease. The resistance levels are located at 1.6697 and 1.6728. The support level is located at 1.6668. We recommend to sell Put Options from the resistance levels and to buy Call Options from support levels.

 

 

AUD/USD The Australian dollar trades in a narrow range. Moving averages stay horizontally, but there might be a future increase. The resistance levels are located at 0.9299 and 0.9318. The support levels are located at 0.9287 and 0.9262. We recommend to sell Put Options from the resistance levels and to buy Call Options from support levels.

 

 

USD/JPY The pair tends to increase in value. Moving averages stay up, but there might be a future increase. The resistance level is located at 102.65. The support levels are located at 102.40 and 102.23. We recommend to sell Put Options from the resistance levels and to buy Call Options from support levels.

 

 

GOLD Gold tends to increase in value. Moving averages stay up, but there might be a future increase. The resistance level is located at 1315. The support levels are located at 1310 and 1305. We recommend to sell Put Options from the resistance levels and to buy Call Options from support levels.