Daily market review on the 19.09.2014

Daily market review

There is high volatility on the market. EUR/USD is being traded in a positive mood and managed to stay above the level 1.29, which is a positive signal for the buyers of the asset. There is a chance for further growth. GBP/USD demonstrates a steady rise while waiting for final referendum results. According to the preliminary data less than a half voted for Scotland's independence. Based on the preliminary data GBP/USD started to grow. If Scotland is going to remain in UK then there may be further increase. Pair USD/JPY demonstrates active growth and reached its new maximum level. The gold remains under high pressure of sellers.

Market news

Do not expect much statistics today. For Europe pay attention to the German Producer Price Index, statistical data expected to be on the same level as the previous data, but if it is going to be better then further, increase of EUR/USD will continue. No important statistics for Britain. Secondary statistics is expected for USA which will not affect the market much. Check Canadian Core Consumer Price Index, the data is expected to be better than previous, which may cause a positive effect on the Canadian dollar.

Our recommendations

EUR/USD is being traded in a positive trend. Moving averages stay horizontally, but there is a chance for further increase. Target resistance level is at 1.2929. Target support levels are at 1.2896 and 1.2855. We recommend to sell (Put Option) at the resistance level and buy (Call Option) at the support level.

 

GBP/USD demonstrates sharp increase. Moving averages tend to stay horizontally, but there is a chance for further increase. Target resistance level is at 1.6522. Target support levels are at 1.6215 and 1.6344. We recommend to sell (Put Option) at the resistance level and buy (Call Option) at the support level.

 

AUD/USD Australian dollar is under selling pressure. Moving averages tend to stay horizontally, but there is a chance of further decline. Target resistance levels are at 0.8965 and 0.8986. Target support level is at 0.8936. We recommend to sell (Put Option) at the resistance level and buy (Call Option) at the support level.

 

USD/JPY Currency pair USD/JPY is being traded in a positive trend. Moving averages tend to go up, which indicates further increase. Target resistance levels have reached 109.45. Target support levels are at 108.48 and 106.83. We recommend to sell (Put Option) at the resistance level and buy (Call Option) at the support level.

 

GOLD Gold is being traded under pressure. Moving averages tend to stay horizontally, but there is a chance for further increase. Target resistance levels have reached 1228 and 1239. Target support level is at 1218. We recommend to sell (Put Option) at the resistance level and buy (Call Option) at the support level.

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