Daily market review for 15.10.2014

After the negative statistics for the German Economic Sentiment were published, EUR/USD has started again to trade under pressure. If such negative data remains in the Eurozone, a further decline is possible, but without any deep corrections. GBP/USD has renewed its year low after the data for the Consumer price index was released. The results were much worse than expected, and caused an active fall of the British currency. GBP/USD has some tendencies to decrease in value down to 1.55. USD/JPY has started to gradually stabilize. Gold consolidates after its active rise, at the current positions a further rise is possible.

Market news

Important statistics for the Eurozone, the UK and the USA are expected today. As to the Eurozone, we recommend to pay attention to the German Consumer price index, the data is expected to remain on the same level, but in case of any negative results, it can affect the euro. Later this day, the ECB president Draghi will perform a speech. As to the UK, the report on Claimant Count Change will be published, the forecast is positive and can impact the British currency. As regards to the USA, we recommend to pay attention to the statistics for the Core Retail Sales, the results are expected to be worse than the previous ones and can negatively influence the American dollar.

Our recommendations

EUR/USD trades positively. Moving averages stay horizontally, but there might be a further decrease. The important levels that prevent the rise are located at 1.2678 and 1.2766. The important level that prevents the fall is located at 1.2623. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

GBP/USD has renewed its year low. Moving averages stay horizontally, but there might be a further decrease. The important levels that prevent the rise are located at 1.5942 and 1.6078. The important level that prevents the fall is located at 1.5876. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

AUD/USD trades in a narrow range. Moving averages stay up, which show a further increase. The important level that prevents the rise is located at 0.8752. The important levels that prevent the fall are located at 0.8705 and 0.8674. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

USD/JPY trades positively. Moving averages stay horizontally, but there might be a further increase. The important level that prevents the rise is located at 107.39. The important levels that prevent the fall are located at 107.03 and 106.83. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

GOLD consolidates after its active rise. Moving averages stay down, which show a further decrease. The important levels that prevent the rise are located at 1228 and 1238. The important level that prevents the fall is located at 1224. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

The information and recommendations contained in this analytical document are published strictly for information purposes and are not considered as an offer to buy or sell the trading tools mentioned above and are not intended to motivate to perform certain transactions.