Daily market review for 06.11.2014

Significant movements are expected since a lot of important statistics will be published during the day. In case of any negative news for the Eurozone and positive data for the USA, EUR/USD can perform new lows. Generally, the negative sentiment still remains and many investors consider a further fall, therefore selling of the asset is increasing. GBP/USD trades in a narrow range, in order to go out of that range a strong driver as fundamental data for the UK is needed. USD/JPY has renewed its high and currently consolidates. Gold stabilizing after its active decline.

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 Interest Rate Decision, which is expected to remain on the previous level, but if it’s lowered, the euro will continue to fall. Later this day, the ECB Press Conference will be held, some multidirectional movements can occur during the event. As to the UK, we recommend to pay attention to the Interest Rate Decision, which is also expected to remain on the same level. As regards to the USA, we recommend to pay attention to the Initial Jobless Claims, the forecast is positive and can affect the American dollar.

Our recommendations

EUR/USD trades in a narrow range. Moving averages stay up, which show a further increase. The important level that prevents the rise is located at 1.2528. The important levels that prevent the fall are located at 1.2479 and 1.2455. 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 up, which show a further increase. The important level that prevents the rise is located at 1.6000. The important levels that prevent the fall are located at 1.5953 and 1.5868. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

AUD/USD remains under selling pressure. Moving averages stay horizontally, but there might be a further decrease. The important levels that prevent the rise are located at 0.8619 and 0.8759. The important level that prevents the fall is located at 0.8551. 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 115.49. The important levels that prevent the fall are located at 114.04 and 113.42. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

GOLD is under strong pressure. Moving averages stay horizontally, but there might be a further decrease. The important levels that prevent the rise are located at 1151 and 1169. The important level that prevents the fall is located at 1138. 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.