Daily market review for 13.11.2014

EUR/USD attempts to correct, but has not succeeded. EUR/USD still remains under pressure and there are some tendencies for a further decline. GBP/USD renewed its year low right after the Bank of England had published the Inflation report. The Bank of England has decreased forecasts for GDP growth and has stated that the inflation rate will possibly fall lower than 1% in 2 years. USD/JPY continues to trade near its highs, although it attempts to perform some correction after its active rise. Gold remains under selling pressure and there are still some perspectives for a further fall.

Market news

Important statistics for the Eurozone and the USA are expected today. As to the Eurozone, we recommend to pay attention to the Consumer Price Index reports in Germany, France, Spain and Italy. The data is expected to remain on the same level, but in case of any negative results, EUR/USD will continue to fall. No important statistics for the UK are expected today. As regards to the USA, we recommend to pay attention to the Initial Jobless Claims, the forecast is negative and can affect the American dollar.

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 1.2450 and 1.2496. The important level that prevents the fall is located at 1.2418. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

GBP/USD has renewed its year low. Moving averages stay horizontally, but there might be a further decrease. The important levels that prevent the rise are located at 1.5804 and 1.5939. The important level that prevents the fall is located at 1.5758. 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 0.8705 and 0.8743. The important level that prevents the fall is located at 0.8671. 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 up, which show a further increase. The important level that prevents the rise is located at 115.88. The important levels that prevent the fall are located at 115.43 and 114.89. 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 1168 and 1173. The important level that prevents the fall is located at 1156. 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.