Daily market review on the 29.08.2014

Daily market review

Most assets trade in a narrow range without any clear trend levels. There’s a lot of statistics expected today, that should cause some fluctuations on the market and make new trends. EUR/USD trades lower than 1.32, which is a positive signal for sellers of the asset. After it consolidated, a fuse in direction of the downtrend has appeared. GBP/USD continues to trade in a very narrow range during the whole week. GBP/USD pip movement range is only 80. It's considered to breach the range during the day. USD/JPY continues to trade in a very narrow range without any clear trends. Gold hovered around 1279 and 1296, a strong impetus is needed to get out of this level.

Market news

The important statistics for Europe, the UK and the USA are expected today. We recommend to pay attention to the statistics for the Consumer price index in Europe, the data is expected to be worse than the previous one and can negatively impact the euro. As to the UK, the Industrial Capex report is to be published, the forecast is negative and can influence the British currency. As regards to the USA, we recommend to pay attention to the Consumer Spending statistics, the data is expected to be worse than the previous one and can negatively impact the US dollar. Later this day the statistics for the University of Michigan Consumer Sentiment Index are to be published, the positive forecast can also impact the American dollar.

Our recommendations

EUR/USD EUR/USD continues to decrease in value. Moving averages stay down that show a further decrease. The important levels that prevent the rise are located at 1.3184 and 1.3219. The important level that prevents the fall is located at 1.3159. We recommend to sell Put Options from the resistance levels and to buy Call Options from the support levels.

 

 

GBP/USD GBP/USD trades in a narrow range. Moving averages stay down that show a further decrease. The important levels that prevent the rise are located at 1.6591 and 1.6612. The important level that prevents the fall is located at 1.6566. We recommend to sell Put Options from the resistance levels and to buy Call Options from the support levels.

 

 

AUD/USD The Australian dollar trades in a narrow range. Moving averages stay down that show a further decrease. The important levels that prevent the rise are located at 0.9359 and 0.9372. The important levels that prevent the fall are located at 0.9346 and 0.9332. We recommend to sell Put Options from the resistance levels and to buy Call Options from the support levels.

 

 

USD/JPY The pair trades in a narrow range. Moving averages stay up that show a further increase. The important level that prevents the rise is located at 103.87. The important levels that prevent the fall are located at 103.64 and 103.54. We recommend to sell Put Options from the resistance levels and to buy Call Options from the support levels.

 

 

GOLD Gold continues to trade in a narrow range. Moving averages stay down that show a further decrease. The important levels that prevent the rise are located at 1291 and 1296. The important levels that prevent the fall are located at 1288 and 1285. We recommend to sell Put Options from the resistance levels and to buy Call Options from the support levels.

 

 

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