Daily market review for 05.01.2016

EUR/USD has decreased down to the 1.08 level and currently trades in a narrow range. The pair's further move is indefinite. GBP/USD, just like EUR/USD, trades in a narrow range without a certain trend. There might be new tendencies during the day, as the important economic data will be released. USD/JPY continues to trade negatively and keeps perspectives for a further decline. Gold still trades positively and has perspectives for a further rise.

Market news

Important statistics for the Eurozone and the UK are expected today. Only some secondary data for the USA will be published today. As to the Eurozone, we recommend to pay attention to the Consumer Price Index report, the data is expected to be better than the previous one and can positively affect the euro. As to the UK, we recommend to pay attention to the Construction PMI report, the forecast is positive and can influence the British pound.

Our recommendations

EUR/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 1.0861 and 1.0947 . The important level that prevents the fall is located at 1.0781. 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 1.4744 and 1.4815. The important level that prevents the fall is located at 1.4664. 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 0.7232. The important level that prevents the fall is located at 0.7155. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

USD/JPY trades negatively. Moving averages stay horizontally, but there might be a further increase. The important levels that prevent the rise are located at 119.69 and 120.47. The important level that prevents the fall is located at 118.69. 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 up, which show a further increase. The important level that prevents the rise is located at 1.0062. The important levels that prevent the fall are located at 0.9971 and 0.9924. 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 decrease. The important level that prevents the rise is located at 73.57. The important level that prevents the fall is located at 72.56. 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 up, which show a further increase. The important level that prevents the rise is located at 1083. The important level that prevents the fall is located at 1067. 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.