Daily market review for 24.10.2014

EUR/USD stabilizes actively, there are some tendencies for a further short-term rise. Generally, the sentiment of many investors is focused on a further decrease in value, which can already occur in the nearest future. The asset purchase program can cause a fall of the euro, which is quite beneficial for Europe. GBP/USD, just like EUR/USD, gradually stabilizes. The common sentiment is negative and many investors consider to sell the asset further. USD/JPY continues to trade positively, there are some tendencies for a further rise. Gold remains under strong selling pressure.

Market news

Important statistics for the Eurozone, the UK and the USA are expected today. As to the Eurozone, we recommend to pay attention to the GfK German Consumer Climate, 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 GDP report, the forecast is negative and can affect the British pound. As regards to the USA, we recommend to pay attention to the New Home Sales report, the results are expected to be negative and can influence the American dollar.

Our recommendations

EUR/USD remains under selling pressure. Moving averages stay horizontally, but there might be a further decrease. The important levels that prevent the rise are located at 1.2660 and 1.2675. The important level that prevents the fall is located at 1.2629. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

GBP/USD remains under pressure. Moving averages stay up, which show a further increase. The important levels that prevent the rise are located at 1.6045 and 1.6058. The important level that prevents the fall is located at 1.6006. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

AUD/USD trades in a narrow range. Moving averages stay horizontally, but there might be a further increase. The important level that prevents the rise is located at 0.8773. The important levels that prevent the fall are located at 0.8737 and 0.8718. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

USD/JPY trades positively. Moving averages stay up, which show a further increase. The important level that prevents the rise is located at 108.34. The important levels that prevent the fall are located at 107.84 and 107.42. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

GOLD consolidates after its active rise. Moving averages stay horizontally, but there might be a further increase. The important levels that prevent the rise are located at 1234 and 1245. The important level that prevents the fall is located at 1226. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

The information and recommendations contained in this analytical document are published strictly for information purposes and are not considered as an offer to buy or sell the trading tools mentioned above and are not intended to motivate to perform certain transactions.