Daily market review on the 16.09.2014

Daily market review

There are no significant fluctuations on the market. The statistics for today should bring more activity. EUR/USD continues to trade in a range of 50 pips, which shows low volatility. GBP/USD is expecting the referendum that will be held already on this week. If Scotland becomes independent, GBP/USD will dramatically fall. It’s considered to happen, since the uncertain position of the British currency and economy will increase, and will have a negative impact on investor sentiment. USD/JPY continues to trade near its highs. Gold attempts to rise again.

Market news

Important statistics for Europe, the UK and the USA are expected today. As to the UK we recommend to pay attention to the Consumer price index, the data is expected to be worse than the previous one and can negatively impact the British currency. As to Europe we recommend to pay attention to the Economic sentiment indicator in Germany, the forecast is negative and can influence the euro. As regards to the USA, the Producer price index overview will be published, the data is expected to remain on the same level, but if the figures are positive, it can positively impact the American dollar.

Our recommendations

EUR/USD EUR/USD continues to trade 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 1.2959. The important levels that prevent the fall are located at 1.2935 and 1.2907. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

 

GBP/USD GBP/USD trades in a narrow range. Moving averages stay down which show a further decrease. The important levels that prevent the rise are located at 1.6248 and 1.6278. The important level that prevents the fall is located at 1.6212. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

 

AUD/USD The Australian dollar is under selling pressure. Moving averages stay down which show a further decrease. The important levels that prevent the rise are located at 0.9115 and 0.9253. The important level that prevents the fall is located at 0.8983. 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 increase. The important level that prevents the rise is located at 107.34. The important levels that prevent the fall are located at 107.00 and 106.92. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

 

GOLD Gold attempts to stabilize. Moving averages stay horizontally, but there might be a further increase. The important level that prevents the rise is located at 1238. The important levels that prevent the fall are located at 1231 and 1225. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

 

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