Daily market review for 19.11.2014

EUR/USD trades in a narrow range. Yesterday the asset attempted to correct after its active rise in the end of the last week but didn’t succeed. It also has not strengthened lower than 1, 25 yet. A common trend stays down, but in a medium-term perspective it has potential to rise. Many investors tend to increase sales on each top pick. GBP/USD trades near its one-year lows. There are some tendencies for a further decline. USD/JPY trades near its six-year highs and tends to trade positively. Gold trades in a narrow range and has perspectives to perform a further short-term increase in value.

Market news

Important statistics for the UK and the USA are expected today. As to the UK, we recommend to pay attention to the Monetary Policy Meeting Minutes, some strong multidirectional movements can occur during the event. No important statistics for the Eurozone will be published today. As regards to the USA, we recommend to pay attention to the Building Permits report, the data is expected to be worse than the previous one and can negatively affect the American dollar. Later this day, the FOMC Meeting Minutes will be held and can influence the market.

Our recommendations

EUR/USD trades in a narrow range. Moving averages stay up, which show a further increase. The important level that prevents the rise is located at 1.2543. The important levels that prevent the fall are located at 1.2511 and 1.2467. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

GBP/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 1.5632 and 1.5677. The important level that prevents the fall is located at 1.5598. 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 0.8690 and 0.8733. The important level that prevents the fall is located at 0.8654. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

USD/JPY continues to trade positively. Moving averages stay up, which show a further increase. The important level that prevents the rise is located at 117.40. The important levels that prevent the fall are located at 116.80 and 116.32. 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 increase. The important levels that prevent the rise are located at 1198 and 1204. The important level that prevents the fall is located at 1191. 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.