Daily market review for 19.01.2015

EUR/USD remains under pressure and has some perspectives for a further decline. The asset is quite oversold and needs an upward correction. In order to perform a further rise, some positive data for the Eurozone is needed, and in this case the pair could correct in a range between 1.20-1.22. GBP/USD, just like EUR/USD, is under strong selling pressure. It has perspectives for an upward correction, but some positive news for the UK is necessary. USD/JPY trades in a narrow range, but the common sentiment is positive and the asset has perspectives for a further rise. Gold trades positively and has perspectives to further move upwards.

Market news

No important statistics for the Eurozone and the USA will be published today. There are only some secondary data for the Eurozone, which will not affect the market significantly. No important news for the UK will be released today. As to Canada, we recommend to pay attention to the Foreign Securities Purchases, the results are expected to be worse than the previous ones and can negatively affect the Canadian 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 1.1588 and 1.1648. The important level that prevents the fall is located at 1.1531. 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 level that prevents the rise is located at 1.5169. The important levels that prevent the fall are located at 1.5115 and 1.5075. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

AUD/USD trades positively. Moving averages stay horizontally, but there might be a further increase. The important level that prevents the rise is located at 0.8196. The important levels that prevent the fall are located at 0.8149 and 0.8127. 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 levels that prevent the rise are located at 117.21 and 117.72. The important level that prevents the fall is located at 116.88. 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 horizontally, but there might be a further increase. The important level that prevents the rise is located at 1282. The important levels that prevent the fall are located at 1274 and 1257. 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.