Daily market review for 07.11.2014

EUR/USD falls actively in consequence of the statements of the Head of the European Central Bank, saying that the stimulus measures will last at least two years. It has caused an active decline of the euro. The pressure on the asset is growing and there are some new perspectives for a further decrease in value. As it was earlier, many investors are increasing medium-term selling. GBP/USD, just like EUR/USD is under very strong selling pressure. There are still some tendencies for a further fall. USD/JPY trades near its six-year highs and keeps a positive sentiment. Gold is again under strong selling pressure, a further decline is possible.

Market news

Important news for the Eurozone, the UK and the USA are expected today. As to the Eurozone, we recommend to pay attention to the German Industrial Production 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 Trade Balance release, the forecast is negative and can impact the British pound. As regards to the USA, we recommend to pay attention to the Nonfarm Payrolls, the results are expected to be worse than the previous ones and can negatively influence the American dollar.

Our recommendations

EUR/USD 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 1.2384 and 1.2446. The important level that prevents the fall is located at 1.2364. 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 horizontally, but there might be a further decrease. The important levels that prevent the rise are located at 1.5846 and 1.5927. The important level that prevents the fall is located at 1.5814. 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 horizontally, but there might be a further decrease. The important levels that prevent the rise are located at 0.8573 and 0.8626. The important level that prevents the fall is located at 0.8539. 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 up, which show 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 115.06 and 114.39. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

GOLD is under selling pressure. Moving averages stay down, which show a further decrease. The important levels that prevent the rise are located at 1142 and 1149. The important level that prevents the fall is located at 1132. 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.