Daily market review for 03.11.2014

The market has opened with a small gap on many currencies. EUR/USD trades lower than 1.25, which is a negative signal for buyers of the asset. Currently the down trend still remains and everything goes according to the sellers’ plan. There are some tendencies for a further decline. If the euro remains under pressure, 1.23 will be opened very soon. GBP/USD, just like EUR/USD, remains under strong selling pressure. USD/JPY trades near its six-month highs. Gold is under strong selling pressure and has renewed its four-year low.

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 German Manufacturing PMI, the results are expected to remain on the same level, but in case of any negative data, it can affect the euro. As to the UK, we recommend to pay attention to the Manufacturing PMI report, the data is expected to be worse, than the previous one and can negatively impact the British pound. As regards to the USA, we recommend to pay attention to the ISM Manufacturing PMI, the forecast is negative and can influence the American dollar.

Our recommendations

EUR/USD trades negatively. Moving averages stay horizontally, but there might be a further decrease. The important levels that prevent the rise are located at 1.2542 and 1.2590. The important level that prevents the fall is located at 1.2439. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

GBP/USD trades negatively. Moving averages stay horizontally, but there might be a further decrease. The important levels that prevent the rise are located at 1.5973 and 1.6010. The important level that prevents the fall is located at 1.5926. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

AUD/USD trades negatively. Moving averages stay horizontally, but there might be a further decrease. The important levels that prevent the rise are located at 0.8760 and 0.8843. The important level that prevents the fall is located at 0.8702. 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 horizontally, but there might be a further increase. The important level that prevents the rise is located at 113.00. The important levels that prevent the fall are located at 112.64 and 111.90. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

GOLD remains under selling pressure. Moving averages stay horizontally, but there might be a further decrease. The important levels that prevent the rise are located at 1174 and 1189. The important level that prevents the fall is located at 1161. 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.