Daily market review on the 23.09.2014

Daily market review

Today has low volatility but a lot of statistics are expected which can bring some fluctuations to the market. EUR/USD trades in a narrow range. A short-time rise is possible, but the main trend stays down. GBP/USD tends to gradually increase, but the main trend stays down. In medium-term perspective there’s a tendency for a further decrease down to 1.60. USD/JPY consolidates after its active rise. Most likely it will not consolidate for long and there will be new peaks in the nearest future. Gold trades near its lows and attempts to rise, but does not succeed.

Market news

Important statistics for Europe, the UK and the USA are expected today. As to Eurozone we recommend to pay attention to the Business and Industry activity index, the data is expected to be worse than the previous one and can negatively impact the euro. As to the UK we recommend to pay attention to the statistics for approved mortgages, the forecast is positive in comparison to the previous results and can influence the British currency. As regards to the USA the FOMC Members Powell and Kocherlakota speeches will be performed. Some significant fluctuations are considered to happen during the event.

Our recommendations

EUR/USD EUR/USD trades in a narrow range. Moving averages stay horizontally, but there might be a further increase. The key resistance level is located at 1.2862. The key support levels are located at 1.2842 and 1.2815. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

 

GBP/USD GBP/USD tends to increase in value. Moving averages stay up, which show a further increase. The key resistance level is located at 1.6389. The key support levels are located at 1.6361 and 1.6322. 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 up, which show a further increase. The key resistance levels are located at 0.8913 and 0.8948. The key support level is located at 0.8852. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

 

USD/JPY The pair consolidates after its active rise. Moving averages stay horizontally but there might be a further decrease. The key resistance levels are located at 108.83 and 109.18. The key support level is located at 108.59. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

 

GOLD Gold is under selling pressure. Moving averages stay up, which show a further increase. The key resistance level is located at 1220. The key support levels are located at 1214 and 1208. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

 

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