Daily market review for 10.11.2014

After the publication of the unemployment rate in the USA, EUR/USD started to stabilize. The negative statistics for the USA has positively affected the asset. In general there are some perspectives for a further increase in value. Many investors are expecting a EUR/USD correction. The nearest targets are located near 1.26. GBP/USD, just like EUR/USD, gradually stabilizes. USD/JPY consolidates after its active rise and there are some perspectives for a further fall. Gold actively stabilizes after its strong decline.

Market news

No important statistics for the Eurozone, the UK and the USA are expected today. Only secondary statistics will be published today and will not affect the market significantly. As regards to Canada, we recommend to pay attention to the Housing Starts, the data is expected to be better than the previous one and can positively impact the Canadian dollar. Generally, the weekly newsflow is expected to be active.

Our recommendations

EUR/USD stabilizes. Moving averages stay up, which show a further increase. The important level that prevents the rise is located at 1.2488. The important levels that prevent the fall are located at 1.2453 and 1.2410. 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 level that prevents the rise is located at 1.5912. The important levels that prevent the fall are located at 1.5870 and 1.5827. 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 0.8680. The important levels that prevent the fall are located at 0.8623 and 0.8566. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

USD/JPY is under strong selling pressure. Moving averages stay down, which show a further decrease. The important levels that prevent the rise are located at 114.61 and 115.55. The important level that prevents the fall is located at 113.97. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

GOLD is recovering its losses. Moving averages stay horizontally, but there might be a further increase. The important level that prevents the rise is located at 1179. The important levels that prevent the fall are located at 1168 and 1143. 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.