Daily market review for 04.05.2016

EUR/USD reached the record mark at 1.16. Afterwards the pair fell down to 1.14 due to USD’s strengthening. Now EUR/USD trades negatively and keeps perspectives for a further decline. USD/JPY has risen up to the 107 level. The pair trades positively, but currently a slight trend reversal is about to form. Gold's value has dropped down to 1278. The asset has tendencies for a further decrease.

Market news

Only the important US data will be released today. We recommend to pay attention to the ADP Nonfarm Employment change and the Crude oil inventories. The data is expected to be worse than the previous one and can negatively affect 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 1.1539 and 1.1616. The important level that prevents the fall is located at 1.1477. 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 107.45. The important levels that prevent the fall are located at 106.54 and 105.74. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.



 

GOLD trades negatively. Moving averages stay horizontally, but there might be a further decrease. The important levels that prevent the rise are located at 1290 and 1298. The important level that prevents the fall is located at 1278. 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.