Daily market review for 11.03.2015

EUR/USD remains under quite strong pressure and renews new lows. Today the pair has succeeded to strengthen lower than 1.07. The asset has perspectives for a further fall, but some positive data for the Eurozone is needed. The nearest target is located at 1.03. GBP/USD trades in a narrow range and has tendencies for a further decline, but some negative newsflow for the UK is needed. USD/JPY trades positively and has perspectives for a further rise. Gold trades in a narrow range and has perspectives to further decrease in value.

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 ECB president’s speech, some strong movements are likely to occur. As regards to the UK, the Manufacturing Production report will be published, the data is expected to be better than the previous one and can positively affect the British pound. As regards to the USA, the Federal Budget Balance report will be released, the forecast is negative 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 decrease. The important levels that prevent the rise are located at 1.0715 and 1.0822. The important level that prevents the fall is located at 1.0664. 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 horizontally, but there might be a further decrease. The important levels that prevent the rise are located at 1.5085 and 1.5099. The important level that prevents the fall is located at 1.5039. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

AUD/USD trades in a narrow range. Moving averages stay horizontally, but there might be a further decrease. The important levels that prevent the rise are located at 0.7619 and 0.7682. The important level that prevents the fall is located at 0.7587. 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 121.48. The important levels that prevent the fall are located at 121.20 and 120.84. 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 horizontally, but there might be a further increase. The important level that prevents the rise is located at 0.9999. The important levels that prevent the fall are located at 0.9968 and 0.9909. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

USD/RUR 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 62.68. The important levels that prevent the fall are located at 61.22 and 59.78. 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 levels that prevent the rise are located at 1265 and 1170. The important level that prevents the fall is located at 1159. 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.