Daily market review for 10.02.2015

The American dollar continues to strengthen relative to other currencies. EUR/USD trades positively and gradually succeeds to recover its earlier losses. Currently the pair is not able to perform a more significant correction upwards. Generally, the common trend stays down and a further decline is more preferable. GBP/USD trades positively. It has perspectives for a further rise, but some positive news for the UK is needed. USD/JPY trades positively, and has perspectives for a further increase in value. Gold trades positively and there might be a further growth.

Market news

Important statistics for the Eurozone, the UK and the USA are expected today. As to the Eurozone, the ECB representative Costa will perform a speech, some multidirectional movements can occur during the event. As to the UK, we recommend to pay attention to the Manufacturing Production report, the data is expected to be worse than the previous one and can negatively affect the British pound. As to the USA, we recommend to pay attention to the JOLTs Job Openings, the results are expected to be better than the previous ones and can positively influence the American dollar.

Our recommendations

EUR/USD trades positively. Moving averages stay horizontally, but there might be a further increase. The important level that prevents the rise is located at 1.1358. The important levels that prevent the fall are located at 1.1312 and 1.1269. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

GBP/USD trades positively. Moving averages stay up, which show a further increase. The important levels that prevent the rise are located at 1.5248 and 1.5265. The important level that prevents the fall is located at 1.5200. 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 0.7840. The important levels that prevent the fall are located at 0.7790 and 0.7747. 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 levels that prevent the rise are located at 118.78 and 119.00. The important level that prevents the fall is located at 118.34. 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 1246. The important levels that prevent the fall are located at 1242 and 1238. 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.