Daily market review on the 22.08.2014

Daily market review

Yesterday did not show any significant fluctuations on the market. EUR/USD tends to trade near the 1.32 level. The last rise of the US dollar has been caused by the statement of the heads of the Central bank, as they has come to an agreement to exit strategy of the stimulus program. It led to expectations considering a further rise of the interest rates. It’s possible, that the US dollar will strengthen. GBP/USD remains under the pressure, the negative statistics for the UK are kept being published and the British pound continues to fall. From the current levels a correction is possible. USD/JPY tends to increase in value and currently trades near the 104 level. Gold keeps falling and trades near its two-month low at the moment.

Market news

A lot of statistics are not expected today. We recommend to pay attention to the ECB President Mario Draghi’s speech and if the European Central Bank give any negative statements considering the euro, a further fall will be possible. There are no any statistics for the UK. As regards to the USA we recommend to pay attention to the speech of the FED chief, Ms. Janet Yellen, some fluctuations are expected during the news. As to Canada the statistics for Consumer price index are to be published, the data is expected to be better than the previous one and can positively impact the Canadian dollar.

Our recommendations

EUR/USD EUR/USD tends to stabilize. Moving averages stay up that show a further rise. The key resistance level is located at 1.3387. The key support levels are located at 1.3273 and 1.3254. We recommend to sell Put Options from the resistance levels and to buy Call Options from the support levels.

 

 

GBP/USD GBP/USD trades in a narrow range. Moving averages stay up that show a further rise. The key resistance levels are located at 1.6585 and 1.6599. The key support level is located at 1.6568. We recommend to sell Put Options from the resistance levels and to buy Call Options from the support levels.

 

 

AUD/USD The Australian dollar tends to increase in value. Moving averages stay up that show a further rise. The key resistance level is located at 0.9321. The key support levels are located at 0.9295 and 0.9239. We recommend to sell Put Options from the resistance levels and to buy Call Options from the support levels.

 

 

USD/JPY The pair trades in a narrow range. Moving averages stay down that show a further fall. The key resistance level is located at 103.96. The key support levels are located at 103.72 and 103.61. We recommend to sell Put Options from the resistance levels and to buy Call Options from the support levels.

 

 

GOLD Gold has renewed its two-month low. Moving averages stay up that show a further rise. The key resistance levels are located at 1281 and 1292. The key support level is located at 1273. We recommend to sell Put Options from the resistance levels and to buy Call Options from the support levels.

 

 

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