Daily market review on the 26.09.2014

Daily market review

EUR/USD is under strong selling pressure. Many investors have reached medium-term targets, therefore a consolidation is considered at these levels. A further decline is possible, but a strong driver is needed. While the ECB does not take any drastic measures, a further decrease in value is difficult. GBP/USD continues to trade in a narrow range. Selling is more preferable since the asset remains under pressure. USD/JPY continues to rise and trades near its highs. Gold again attempts to stabilize.

Market news

Important statistics for the Eurozone and the USA are expected today. As to the Eurozone, the German consumer climate report will be published, the data is expected to be worse than the previous one and can negatively impact the euro. No statistics for the UK are expected today. As regards to the USA, we recommend to pay attention to the GDP statistics, the forecast is positive and can influence the American dollar. Don’t forget that this is the end of the week, therefore some strong movements are possible.

Our recommendations

EUR/USD EUR/USD remains under pressure. Moving averages stay horizontally, but there might be a further decrease. The important levels that prevent the rise are located at 1.2762 and 1.2784. The important level that prevents the fall is located at 1.2738. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

 

GBP/USD GBP/USD trades in a narrow range. Moving averages stay down which show a further decrease. The important level that prevents the rise is located at 1.6341. The important levels that prevent the fall are located at 1.6302 and 1.6275. 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 down which show a further decrease. The important levels that prevent the rise are located at 0.8812 and 0.8867. The important level that prevents the fall is located at 0.8752. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

 

USD/JPY The pair tends to stabilize. Moving averages stay up, which show a further increase. The important levels that prevent the rise are located at 109.09 and 109.35. The important level that prevents the fall is located at 108.47. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

 

GOLD Gold attempts to stabilize. Moving averages stay horizontally but there might be a further increase. The important level that prevents the rise is located at 1228. The important levels that prevent the fall are located at 1220 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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