Daily market review for 02.12.2014

The market does not show any significant movements at the moment. EUR/USD continues to trade in a narrow range. In order to get out of that range, a strong newsflow is needed. There are some tendencies, that the asset will correct upwards, but some positive data for the Eurozone will be necessary. GBP/USD, just like EUR/USD, trades in a narrow range. Generally, the medium-term trend stays down, that’s why sales are more preferable. USD/JPY trades positively, and there are some tendencies for a further rise. Gold shows a confident increase in value on background of an active strengthening of commodities.

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 Spanish Unemployment Change, the data is expected to be better that the previous one and can positively affect the euro. As to the UK, we recommend to pay attention to the Construction PMI, the results are expected to be worse than the previous ones and can negatively impact the British pound. As regards to the USA, Fed Chair Yellen will perform a speech, some strong multidirectional movements can occur during the event.

Our recommendations

EUR/USD trades in a narrow range. Moving averages stay horizontally, but there might be a further decrease. The important levels that prevent the rise are located at 1.2475 and 1.2505. The important level that prevents the fall is located at 1.2418. 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 decrease. The important level that prevents the rise is located at 1.5762. The important levels that prevent the fall are located at 1.5695 and 1.5584. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

AUD/USD gradually stabilizes. Moving averages stay up, which show a further increase. The important level that prevents the rise is located at 0.8530. The important levels that prevent the fall are located at 0.8469 and 0.8418. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

USD/JPY trades positively. Moving averages stay up, which show a further increase. The important level that prevents the rise is located at 119.12. The important levels that prevent the fall are located at 118.21 and 117.86. 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 horizontally, but there might be a further increase. The important level that prevents the rise is located at 1221. The important levels that prevent the fall are located at 1203 and 1192. 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.