Daily market review for 11.02.2015

EUR/USD continues to trade in a narrow range. Yesterday the pair slightly increased in value by rumours that the European Commission was ready to make a compromise plan for Greece, which could mean a six-year postponement of fulfilling its obligations. In order to perform a further growth, some positive newsflow for the Eurozone is needed. GBP/USD, just like EUR/USD, trades in a narrow range, but has perspectives for a further rise. USD/JPY trades positively and is certain to grow further. Gold trades in a narrow range and attempts to stabilize.

Market news

Important statistics for the USA are expected today. As to the Eurozone, some secondary data only will be published, which will not affect the market significantly. No news for the UK will be released for today. Considering the USA, we recommend to pay attention to the Federal Budget Balance report, the forecast is negative and can affect 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 levels that prevent the rise are located at 1.1329 and 1.1344. The important level that prevents the fall is located at 1.1281. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

GBP/USD 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 1.5245 and 1.5274. The important level that prevents the fall is located at 1.5214. 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 0.7793 and 0.7829. The important level that prevents the fall is located at 0.7746. 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 level that prevents the rise is located at 119.67. The important levels that prevent the fall are located at 119.23 and 118.67. 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 1239 and 1246. The important level that prevents the fall is located at 1231. 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.