Daily market review for 17.05.2016

EUR/USD continues to trade in a narrow range near the 1.13 level. The price chart’s further move is indefinite. USD/JPY also trades in a narrow range. There might be a new trend during the day. Gold continues to actively grow. The asset's price has stopped at 1278 and keeps perspectives for a further rise.

Market news

Only the US important data will be published today. We recommend to pay attention to the Building Permits and the Core Consumer price index. The forecasts for both reports are positive and can influence the American dollar's value.

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 1.1326 and 1.1342. The important level that prevents the fall is located at 1.1313. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

USD/JPY 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 109.11. The important levels that prevent the fall are located at 108.89 and 108.73. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

GOLD trades positively. Moving averages stay up, which show a further increase. The important levels that prevent the rise are located at 1280 and 1288. The important level that prevents the fall is located at 1270. 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.