Daily market review for 08.01.2016

EUR/USD currently trades in a narrow range, but still locates near the 1.08 level. GBP/USD has started to decrease in value after its short rise. The pair keeps tendencies for a further fall. USD/JPY started to trade positively and has perspectives for a further growth. The assets' further moves will be influenced by the fundamental economic releases for the USA. Gold showed a very active rise and has reached the 1112 level. The value has slightly decreased afterwards, and now the asset trades near the 1103 level. There might be a new phase of decline.

Market news

Important statistics for the USA are expected today. Only some secondary data for the Eurozone and the UK will be published today and will not strongly affect the market. As to the USA, we recommend to pay attention to the Unemployment rate report, the data is expected to remain on the same level and can influence the American dollar.

Our recommendations

EUR/USD trades in a narrow range. Moving averages stay horizontally, but there might be a further increase. The important level that prevents the rise is located at 1.0940. The important levels that prevent the fall are located at 1.0826 and 1.0771. 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 level that prevents the rise is located at 1.4645. The important levels that prevent the fall are located at 1.4562 and 1.4533. 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 0.7074. The important levels that prevent the fall are located at 0.7004 and 0.6980. 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 118.58. The important level that prevents the fall is located at 117.33. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

USD/CHF trades positively. Moving averages stay up, which show a further increase. The important levels that prevent the rise are located at 1.0038 and 1.0077. The important level that prevents the fall is located at 0.9923. 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 horizontally, but there might be a further increase. The important levels that prevent the rise are located at 75.07 and 75.67. The important level that prevents the fall is located at 74.23. 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 horizontally, but there might be a further decrease. The important level that prevents the rise is located at 1112. The important levels that prevent the fall are located at 1099 and 1092. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.