Daily market review for 20.03.2015

EUR/USD continues to trade in a narrow range. The pair couldn’t strengthen higher than 1.07, which became a positive signal for sellers of the asset. Generally, there are perspectives for a further fall, but some strong data for the Eurozone and the USA is necessary. GBP/USD trades in a narrow range and has perspectives for a further decline, but some fundamental news for the UK is needed, which will not be published today. USD/JPY trades negatively and has tendencies for a further fall. Gold trades positively and has perspectives for a further rise.

Market news

Important statistics for the Eurozone and the USA are expected today. As to the Eurozone, we recommend to pay attention to the German Producer Price Index report, the data is expected to be better than the previous one and can positively affect the euro. No important news for the UK will be released today. As regards to the USA, the FOMC member Lockhart will perform a speech, some strong multidirectional movements can occur during the event.

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 1.0693 and 1.0918. The important level that prevents the fall is located at 1.0611. 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 decrease. The important levels that prevent the rise are located at 1.4776 and 1.4925. The important level that prevents the fall is located at 1.4686. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

AUD/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 0.7694 and 0.7807. The important level that prevents the fall is located at 0.7610. 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 decrease. The important level that prevents the rise is located at 121.02. The important levels that prevent the fall are located at 120.60 and 119.67. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

USD/CHF 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 0.9939. The important levels that prevent the fall are located at 0.9875 and 0.9770. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

USD/RUR 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 60.25. The important levels that prevent the fall are located at 59.32 and 58.67. 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 1173. The important levels that prevent the fall are located at 1169 and 1159. 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.