Daily market review for 08.01.2015

EUR/USD continues to fall on expectations of increasing of interest rates in the USA. The asset remains under pressure and is likely to stay this way. Many investors don’t see any reasons which could stop a further rise of the American dollar. EUR/USD trades at its 9-year lows, which makes a further grow more complicated. GBP/USD, just like EUR/USD, is quite oversold and trades near its year lows. USD/JPY continues to trade positively and is possible to grow further. Gold trades in a narrow range, but the whole sentiment is positive.

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 Retail Sales report, the data is expected to be worse than the previous one and can negatively affect the euro. As to the UK, we recommend to pay attention to the Interest Rates Decision, the results are 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 influence the American dollar.

Our recommendations

EUR/USD trades negatively. Moving averages stay down, which show a further decrease. The important levels that prevent the rise are located at 1.1857 and 1.1895. The important level that prevents the fall is located at 1.1801. 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 1.5147. The important levels that prevent the fall are located at 1.5080 and 1.5053. 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 up, which show a further increase. The important level that prevents the rise is located at 0.8114. The important levels that prevent the fall are located at 0.8084 and 0.8032. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

USD/JPY 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 119.79. The important levels that prevent the fall are located at 119.13 and 118.66. 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 horizontally, but there might be a further increase. The important levels that prevent the rise are located at 1210 and 1218. The important level that prevents the fall is located at 1205. 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.