Daily market review on the 15.09.2014

Daily market review

The market remains stable and opened at friday's closure levels. The US dollar continues to trade in a positive mood. Investors await further interest rate increase, but it's difficult to predict when it is going to happen. The European currency looks weak compared with other currencies. The Euro remains under pressure without any clear positive signs. The British pound is stagnant waiting for the result of the referendum that will take place this week. It is difficult to predict the referendum results right now. However, if Scotland leaves the United Kingdom, then pressure on the British pound will only increase resulting in further decrease. Gold continues to trade close to its minimum levels.

Market news

Expect quite a calm day today in terms of news. Secondary statistics will be released for Europe which won't influence the market a lot. No news for Britain. In Japan it is a day off, thus no statistics either. As for the USA, pay attention to the NY Empire State Manufacturing index; the data are expected to be better than the previous ones, which may positively influence the US dollar. Later, statistics on the Industrial Production will be released, which are expected to be worse than before, which may have a negative influence on the market.

Our recommendations

EUR/USD trades in the narrow corridor. Moving averages are going down which indicates further decline. The important resistance levels are located at 1.2968 and 1.2978. The important support levels are located at 1.2940 and 1.2908. We recommend selling (Put Option) at the resistance level and buying (Call Option) at the support level.

 

GBP/USD trades in the narrow corridor. Moving averages tend to go down which indicates further decline. The important resistance level is located at 1.6278. The important support levels are located at 1.6184, 1.6229 and 1.6204. We recommend selling (Put Option) at the resistance level and buying (Call Option) at the support level.

 

AUD/USD The Australian dollar remains under strong selling pressure. Moving averages are going down which indicates further decline. The important resistance levels are located at 0.9016 and 0.9067. The important support level is located at 0.8982. We recommend selling (Put Option) at the resistance level and buying (Call Option) at the support level.

 

USD/JPY pair tends to increase in value. Moving averages tend to stay horizontally, but there might be a further increase. The important resistance level is located at 107.38. The important support levels are located at 107.15 and 106.95 We recommend selling (Put Option) at the resistance level and buying (Call Option) at the support level.

GOLD is being traded at its minimum levels. Moving averages tend to stay horizontally, but there may be a further increase. The important resistance levels are located at 1235 and 1240. The important support level is locat 1225. We recommend selling (Put Option) at the resistance level and buying (Call Option) at the support level.

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