Daily market review on the 20.08.2014

Daily market review

Today seems to be an active day on the market. The statistics from yesterday negatively impacted the EUR/USD. It has become closer to its eight-month lows. A further fall is possible during the day. GBP/USD was influenced by the negative data for Consumer Price Index in the UK and could be a reason that the interest rates would not rise soon. There are still tendencies for a further decrease in value. USD/JPY shows a noticeable rise and has renewed the four-month highs. Gold is still under the pressure, but some fluctuations seem to happen and can cause the rise of the precious metal.

Market news

The important statistics for Europe, the UK and the USA are expected today. We recommend to pay attention to the Producer price index in Germany, the data is expected to be better than the previous one and can positively impact the euro. The Minutes of Monetary Policy Committee are to be published in the UK, and some significant fluctuations in the British pound are considered to happen during the publication. The secondary statistics for the USA are expected, but the minutes of the meeting held by the Federal Open Market Committee are supposed to be published in the evening, and some significant fluctuations in the US dollar are also expected.

Our recommendations

EUR/USD EUR/USD is under the strong selling pressure. Moving averages stay down that show a further decrease. The key resistance levels are located at 1.3320 and 1.3353. The key support level is located at 1.3300. We recommend to sell Put Options from the resistance levels and to buy Call Options from support levels.

 

 

GBP/USD GBP/USD tends to decrease in value. Moving averages stay down that show a further decrease. The key resistance levels are located at 1.6609 and 1.6623. The key support level is located at 1.6600. We recommend to sell Put Options from the resistance levels and to buy Call Options from support levels.

 

 

AUD/USD The Australian dollar trades in a narrow range. Moving averages stay horizontally but there might be a future increase. The key resistance levels are located at 0.9316 and 0.9343. The key support level is located at 0.9285. We recommend to sell Put Options from the resistance levels and to buy Call Options from support levels.

 

 

USD/JPY The pair tends to increase in value. Moving averages stay up that show a further increase. The key resistance level is located at 103.23. The key support levels are located at 102.91 and 102.64. We recommend to sell Put Options from the resistance levels and to buy Call Options from support levels.

 

 

GOLD Gold is under the selling pressure. Moving averages stay horizontally but there might be a future increase. The key resistance levels are located at 1297 and 1302. The key support level is located at 1294. We recommend to sell Put Options from the resistance levels and to buy Call Options from support levels.

 

 

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