Daily market review on the 29.09.2014

Daily market review

The market opened without significant fluctuations. EUR/USD trades at its Friday levels. The euro remains under strong pressure. Sellers of the asset can see some tendencies for a further medium-term decrease in value. During the day a consolidation is possible, but the general trend stays down. The US Dollar Index continues to rise. GBP/USD, so does EUR/USD, remains under pressure. There are some tendencies for a further fall. USD/JPY tends to rise. There might be a further increase in value. Gold continues to trade in a narrow range near its lows, the precious metal remains under pressure.

Market news

Important statistics for the Eurozone and the USA are expected today. As to the Eurozone, we recommend to pay attention to the Consumer price index report, 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 Consumer spending statistics, the forecast is positive and can influence the American dollar. Later this day, the pending home sales data will be published, it’s expected to be worse than the previous one and can negatively impact the American dollar.

Our recommendations

EUR/USD EUR/USD remains under pressure. Moving averages stay horizontally, but there might be a further decrease. The key resistance levels are located at 1.2696 and 1.2755. The key support level is located at 1.2662. 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 fall. Moving averages stay horizontally, but there might be a further decrease. The key resistance levels are located at 1.6260 and 1.6329. The key support level is located at 1.6216. 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 horizontally, but there might be a further decrease. The key resistance levels are located at 0.8730 and 0.8801. The key support level is located at 0.8683. 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 rise. Moving averages stay up, which show a further increase. The key resistance level is located at 109.73. The key support levels are located at 109.21 and 108.46. 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 key resistance levels are located at 1221 and 1231. The key support level is located at 1212. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

 

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