Daily market review for 11.11.2014

EUR/USD has started a new phase of decreasing. A pressure on the pair is rising, since the American dollar has strengthened on all fronts. The US Dollar Index trades near its highs. There are still some tendencies for a further decline, but a reversal can occur at any moment. The European Central Bank will start buying bonds, which will have an additional impact on the euro. GBP/USD, just like EUR/USD, is under strong pressure, and there are some perspectives for a further fall. USD/JPY trades near its six-year highs and has tendencies for a further increase in value. Gold is under strong selling pressure and is likely to continue to fall.

Market news

No important statistics for the Eurozone, the UK and the USA are expected today. Only the secondary statistics are expected and will not impact the market significantly. All important data will be published in the second half of the week, we recommend to pay attention to this Friday.

Our recommendations

EUR/USD is under strong pressure. Moving averages stay horizontally, but there might be a further decrease. The important levels that prevent the rise are located at 1.2439 and 1.2508. The important level that prevents the fall is located at 1.2414. 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 1.5856 and 1.5916. The important level that prevents the fall is located at 1.5834. 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 0.8649 and 0.8681. The important level that prevents the fall is located at 0.8608. 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 115.33. The important levels that prevent the fall are located at 114.62 and 113.87. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

GOLD is under selling pressure. Moving averages stay horizontally, but there might be a further decrease. The important levels that prevent the rise are located at 1157 and 1177. The important level that prevents the fall is located at 1146. 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.