Daily market review for 07.01.2016

EUR/USD started to trade positively and has reached the 1.08 level with perspectives for a further rise. There were different economic releases for the USA, but they didn’t prevent the pair to continue to grow. GBP/USD showed an active fall, but now trades in a narrow range. USD/JPY trades negatively and has tendencies for a further decline. Gold has actively increased in value, despite the USD's strengthening. The pair has succeeded to reach the 1102 level with perspectives for a further growth. Traders should pay a lot of attention to the asset's further move, as there are some strong signals to open a profitable trade.

Market news

Important statistics for the Eurozone are expected today. Only some secondary data for the UK and the USA will be published today, and will not strongly affect the market. As to the Eurozone, we recommend to pay attention to the Retail Sales report, the data is expected to be better than the previous one and can positively influence the euro.

Our recommendations

EUR/USD trades positively. Moving averages stay up, which show a further increase. The important level that prevents the rise is located at 1.0830. The important levels that prevent the fall are located at 1.0774 and 1.0717. 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 decrease. The important levels that prevent the rise are located at 1.4643 and 1.4666. The important level that prevents the fall is located at 1.4603. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

AUD/USD trades negatively. Moving averages stay down, which show a further decrease. The important levels that prevent the rise are located at 0.7084 and 0.7128. The important level that prevents the fall is located at 0.7023. 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 down, which show a further decrease. The important level that prevents the rise is located at 118.77. The important level that prevents the fall is located at 117.67. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

USD/CHF trades negatively. Moving averages stay down, which show a further decrease. The important levels that prevent the rise are located at 1.0081 and 1.0122. The important level that prevents the fall is located at 1.0018. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

USD/RUB trades positively. Moving averages stay up, which show a further increase. The important level that prevents the rise is located at 75.50. The important levels that prevent the fall are located at 74.03 and 73.20. 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 1102. The important levels that prevent the fall are located at 1091 and 1078. 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.