Daily market review on the 24.09.2014

Daily market review

There are no significant fluctuations on the market. Assets trade in a quite narrow range. It’s possible to go out of that range. EUR/USD is under selling pressure. Currently it does not succeed to strengthen higher than 1.29 or lower than 1.28. The asset has some tendencies for a further decrease in value, but a strong driver is needed. GBP/USD tends to rise and has consolidated higher than 1.64, which is a positive signal for sellers of the asset. There are some tendencies for a short-term rise, but the medium-term trend stays down. USD/JPY continues to trade in a narrow range. Gold still cannot stabilize.

Market news

Important statistics for Europe and the USA are expected today. As to Eurozone we recommend to pay attention to the Ifo Business Climate Index for Germany, the data is expected to be worse than the previous one and can negatively impact the euro. The UK does not have any important news. As regards to the USA the report on new home sales will be published, the forecast is positive and can influence the American dollar.

Our recommendations

EUR/USD EUR/USD is under selling pressure. Moving averages stay horizontally, but there might be a further decrease. The important levels that prevent the rise are located at 1.2857 and 1.2900. The important level that prevents the fall is located at 1.2838. 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 rise. Moving averages stay up which show a further increase. The important level that prevents the rise is located at 1.6414. The important levels that prevent the fall are located at 1.6383 and 1.6351. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

 

AUD/USD The Australian dollar remains under strong selling pressure. Moving averages stay up which show a further increase. The important levels that prevent the rise are located at 0.8868 and 0.8925. The important level that prevents the fall is located at 0.8830. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

 

USD/JPY The pair currently consolidates. Moving averages stay down which show a further decrease. The important levels that prevent the rise are located at 108.76 and 108.98. The important level that prevents the fall is located at 108.24. 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 decrease. The important levels that prevent the rise are located at 1224 and 1235. The important level that prevents the fall is located at 1215. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

 

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