Daily market review for 05.12.2014

EUR/USD currently stabilizes after yesterday’s ECB meeting (the European Central Bank). Most likely the asset has started to correct and with some positive news a further increase is possible. Many investors consider a further rise up to 1.25, where a new phase of decreasing will start from. GBP/USD continues to trade negatively. If fundamental news is negative, a further fall of the pair is possible. USD/JPY trades positively and has succeeded to strengthen higher than 120.00 at this time. Gold continues to trade in a narrow range, but a further increase is likely to occur.

Market news

Important statistics for the Eurozone and the USA are expected today. As to the Eurozone, we recommend to pay attention to the GDP report, the data is expected to remain on the same level, but in case of any positive results, EUR/USD will continue to rise. No important statistics for the UK are expected today. As to the USA, we recommend to pay attention to the Nonfarm Payrolls report, the forecast is positive and can affect 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 1.2391 and 1.2455. The important level that prevents the fall is located at 1.2281. 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 down, which show a further decrease. The important levels that prevent the rise are located at 1.5682 and 1.5724. The important level that prevents the fall is located at 1.5630. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

AUD/USD remains under pressure. Moving averages stay down, which show a further decrease. The important levels that prevent the rise are located at 0.8391 and 0.8419. The important level that prevents the fall is located at 0.8355. 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 120.23. The important levels that prevent the fall are located at 119.97 and 119.66. 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 up, which show a further increase. The important levels that prevent the rise are located at 1208 and 1213. The important level that prevents the fall is located at 1201. 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.