Daily market review on the 17.09.2014

Daily market review

Volatility remains among most currencies. Today should bring some fluctuations on the market. EUR/USD continues to trade in a range of 50-60 pips, which shows low volatility. GBP/USD tends to stabilize amid rumors of Scotland. This time according to the preliminary data, the majority voted against the Scottish independence, which caused the rise of GBP/USD. Tomorrow the referendum will be held and the future of the British currency will be decided. USD/JPY continues to trade higher than 107, but cannot breach the level. Gold continues to trade in a narrow range and there are some tendencies for a further increase in value.

Market news

A lot of important statistics are expected today and can cause some significant fluctuations on the market. As to Europe we recommend to pay attention to the Consumer price index, the data is expected to be better than the previous one and can positively impact the euro. As to the UK the statistics for employment will be published, the forecast is positive and can influence the British currency. As regards to the USA we recommend to pay attention to the Consumer price index report, the data is expected to be positive in comparison to the previous one and can impact the American dollar. Later this day a speech of Fed Chairman Yellen will be performed, some strong movements are considered to happen during the event.

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 key resistance levels are located at 1.2964 and 1.2993. The key support levels are located at 1.2947 and 1.2921. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

 

GBP/USD GBP/USD attempts to stabilize. Moving averages stay up which show a further increase. The key resistance level is located at 1.6310. The key support levels are located at 1.6248 and 1.6161. 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 strong selling pressure. Moving averages stay horizontally but there might be a further decrease. The key resistance level is located at 0.9110. The key support levels are located at 0.9059 and 0.8988. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

 

USD/JPY The pair continues to rise. Moving averages stay up which show a further increase. The key resistance level is located at 107.27. The key support levels are located at 107.12 and 106.80. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

 

GOLD Gold trades in a narrow range. Moving averages stay horizontally but there might be a further increase. The key resistance levels are located at 1238 and 1242. The key support level is located at 1233. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

 

This market review is strictly published for general information purposes only and can not be considered as an offer or instruction to perfom certain transactions on the financial and commodity markets. The estimates and recommendations published in this review are the personal opinions of the company's analysts. The company's opinion in regards to tendencies of certain financial tools is relevant to the date of publication. The company will not accept liability for any loss or damage which may arise from use of or reliance on such review. The company ensures that the employees do not have any personal interests in promoting the ideas contained in this review. The document is based on public sources. Any information published in this review can be changed at any time without prior notice. Reprinting, copying and distribution of the information contained in this review may be implemented with the written consent of the company only.