Daily market review for 04.02.2015

EUR/USD trades positively, the pair attempted to strengthen higher than 1.15, but didn’t succeed. Generally, the common sentiment is positive, and many investors have begun to gradually increase purchases with targets up to 1.16 and 1.17. Most probably the downtrend has just been broken. GBP/USD, just like EUR/USD, trades positively and has perspectives for a further rise, but some positive news for the UK is necessary. USD/JPY trades in a narrow range and has perspectives for a further growth. Gold is under strong selling pressure and has perspectives to 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 Services PMI report, the data is expected to remain on the same level, but in case of any positive results, the asset can rise further. As to the UK, we also recommend to pay attention to the Services PMI, the data is expected to be better than the previous one and can positively affect the British pound. As regards to the USA, we recommend to pay attention to the ADP Nonfarm Employment Change, the forecast is negative and can influence the American dollar.

Our recommendations

EUR/USD trades positively. Moving averages stay horizontally, but there might be a further increase. The important levels that prevent the rise are located at 1.1483 and 1.1532. The important level that prevents the fall is located at 1.1453. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

GBP/USD trades positively. Moving averages stay horizontally, but there might be a further increase. The important level that prevents the rise is located at 1.5196. The important levels that prevent the fall are located at 1.5138 and 1.5080. 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 horizontally, but there might be a further increase. The important level that prevents the rise is located at 0.7848. The important levels that prevent the fall are located at 0.7751 and 0.7625. 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 increase. The important level that prevents the rise is located at 117.97. The important levels that prevent the fall are located at 117.42 and 117.18. 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 1268 and 1286. The important level that prevents the fall is located at 1255. 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.