Daily market review for 04.11.2015

EUR/USD trades negatively. In order to further decrease in value, some negative newsflow for the Eurozone is needed. Many investors continue to sell the pair actively and focus mostly on a further fall down to the 1.07 point. GBP/USD trades positively and has some perspectives for a further rise, but some positive news for the UK is necessary. USD/JPY trades in a narrow range, but has tendencies for a further rise. Gold trades negatively and has tendencies for a further decrease in value.

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 Service PMI reports, the data is expected to remain on the same level. As to the UK, the Services PMI report will be also published, the data is expected to be better than the previous one and can positively influence the British pound. As regards to the USA, we recommend to pay attention to the ISM Non-Manufacturing PMI report, the forecast is negative and can affect the American dollar.

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 1.0969 and 1.1029. The important level that prevents the fall is located at 1.0935. 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 levels that prevent the rise are located at 1.5429 and 1.5444. The important level that prevents the fall is located at 1.5358. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

AUD/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 0.7223. The important levels that prevent the fall are located at 0.7167 and 0.7150. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

USD/JPY 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 121.14 and 121.39. The important level that prevents the fall is located at 120.93. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

USD/CHF 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 0.9924. The important levels that prevent the fall are located at 0.9899 and 0.9843. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

USD/RUB trades in a narrow range. Moving averages stay horizontally, but there might be a further increase. The important levels that prevent the rise are located at 62.83 and 63.83. The important level that prevents the fall is located at 62.09. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

GOLD trades in a narrow range. Moving averages stay horizontally, but there might be a further increase. The important levels that prevent the rise are located at 1123 and 1133. The important level that prevents the fall is located at 1114. 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.