Daily market review for 06.01.2015

EUR/USD remains under selling pressure, but it attempts to stabilize and get back to a level, higher than 1.20. In fact, target levels at 1.20 have already been reached and a correction movement upwards is possible. Many investors predict a further decline up to the end of this year, but without a good correction that would be impossible. GBP/USD trades in a narrow range and has some perspectives for a further rise. USD/JPY trades negatively, but there are some tendencies for a further increase in value. Gold trades positively and has some perspectives to grow further.

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 Services PMI in Spain, Italy, France and Germany. The data is expected to be better than the previous one and can positively affect the euro. As to the UK, we recommend to pay attention to the Services PMI, the results are expected to be worse than the previous ones and can negatively impact the British pound. As regards to the USA, we also recommend to pay attention to the Services PMI report, the forecast is negative and can influence the American dollar.

Our recommendation

EUR/USD trades in a narrow range. Moving averages stay up, which show a further increase. The important levels that prevent the rise are located at 1.1957 and 1.2005. The important level that prevents the fall is located at 1.1911. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

GBP/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 1.5318. The important levels that prevent the fall are located at 1.5246 and 1.5201. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

AUD/USD trades positively. Moving averages stay up, which show a further increase. The important level that prevents the rise is located at 0.8150. The important levels that prevent the fall are located at 0.8122 and 0.8056. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

USD/JPY trades negatively. Moving averages stay down, which show a further decrease. The important levels that prevent the rise are located at 119.76 and 120.41. The important level that prevents the fall is located at 118.83. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

GOLD trades positively. Moving averages stay up, which show a further increase. The important level that prevents the rise is located at 1208. The important levels that prevent the fall are located at 1201 and 1194. 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.