Daily market review for 20.11.2014

After the FOMC protocol had been published, EUR/USD showed a strong upward movement but later returned to its previous price. A further correction upwards is possible. GBP/USD started to rise after the protocol of the Bank of England had been released. The Bank has decided to maintain the previous interest rates. Increase of the interest rates in the UK is no longer expected in this year. USD/JPY trades near its seven-year highs, but has renewed a new high. USD/JPY continues to trade positively and a further rise is possible. Gold currently corrects after its increase in value.

Market news

Important statistics for the Eurozone, the UK and the USA are expected today. As to the Eurozone, we recommend to pay attention to the German Manufacturing PMI, the data is expected to be better than the previous one and can positively affect the euro. As to the UK, we recommend to pay attention to the Retail Sales report, the forecast is positive and can influence the British pound. As regards to the USA, we recommend to pay attention to the Core Consumer Price Index, the results are expected to be better than the previous ones and can impact the American 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 1.2556 and 1.2598. The important level that prevents the fall is located at 1.2513. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

GBP/USD trades positively. Moving averages stay horizontally, but there might be a further increase. The important level that prevents the rise is located at 1.5718. The important levels that prevent the fall are located at 1.5645 and 1.5589. 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 0.8615 and 0.8655. The important level that prevents the fall is located at 0.8583. 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 118.69. The important levels that prevent the fall are located at 118.06 and 117.43. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

GOLD consolidates after its active rise. Moving averages stay up, which show a further increase. The important levels that prevent the rise are located at 1185 and 1202. The important level that prevents the fall is located at 1175. 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.