Daily market review on the 28.08.2014

Daily market review

USD has partially lost its strength, that caused the rise of EUR/USD higher than 1.32. After its active rise, the long-awaited correction has begun. It’s considered to be short, thus EUR/USD is not expected to actively increase in value. GBP/USD, just as EUR/USD tends to stabilize gradually. For sellers, 600 points fall finally led to the long-awaited correction. USD/JPY tends to consolidate after its active rise. There are some tendencies for a further rise. Gold attempts to stabilize and seems to increase in value.

Market news

The important statistics for Europe and the USA are expected today. As to Europe, we recommend to pay attention to the statistics for GDP in Spain, the data is expected to be on the same level, but in case of negative results EUR/USD will continue to fall. Later this day the statistics for the changes in unemployment rate in Germany will be published, the forecast is positive and can impact the euro. There are no any important statistics for the UK for today. As to the USA, we recommend to pay attention to the GDP report, the data is expected to be worse than the previous one and can negatively impact the USD. Later this day, the report on the Pending Home Sales will be published, the forecast is positive and can also influence the American dollar.

Our recommendations

EUR/USD EUR/USD consolidates after its active fall. Moving averages stay up that show a further increase. The key resistance level is located at 1.3215. The key support levels are located at 1.3187 and 1.3167. We recommend to sell Put Options from the resistance levels and to buy Call Options from the support levels.

 

 

GBP/USD GBP/USD tends to stabilize. Moving averages stay up that show a further increase. The key resistance level is located at 1.6603. The key support levels are located at 1.6588 and 1.6569. 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 increase. The key resistance level is located at 0.9371. The key support levels are located at 0.9332 and 0.9300. We recommend to sell Put Options from the resistance levels and to buy Call Options from the support levels.

 

 

USD/JPY The pair consolidates after its active rise. Moving averages stay down that show a further fall. The key resistance levels are located at 103.91 and 104.07. The key support level is located at 103.69. We recommend to sell Put Options from the resistance levels and to buy Call Options from the support levels.

 

 

GOLD Gold tends to stabilize. Moving averages stay up that show a further increase. The key resistance level is located at 1287. The key support levels are located at 1285 and 1281. We recommend to sell Put Options from the resistance levels and to buy Call Options from the support levels.

 

 

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