Daily market review for 21.11.2014

Today is expected to be without any significant fluctuations, but in the end of the day some strong movements can occur. EUR/USD continues to trade in a narrow range, but cannot go out of the 1.25 range. For a further fall and in order to identify a medium-term trend, a strong newsflow is needed. GBP/USD, just like EUR/USD, trades in a narrow range. The asset attempted to strengthen higher than 1.57, but has not succeeded. USD/JPY consolidates after its active rise, but а common trend stays up. Gold trades positively, but cannot strengthen higher than 1200.

Market news

Important statistics for today will be published only for Canada. As to the Eurozone, we recommend to pay attention to the ECB President Draghi speech, some multidirectional movements can occur during the event. Only the secondary statistics for the UK and the USA will be released today and will not make a significant influence on the market. As to Canada, we recommend to pay attention to the Core Consumer Price Index, the data is expected to remain on the same level, but in case of any negative results it can affect the Canadian dollar.

Our recommendations

EUR/USD trades in a narrow range. Moving averages stay down, which show a further decrease. The important level that prevents the rise is located at 1.2568. The important levels that prevent the fall are located at 1.2534 and 1.2503. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

GBP/USD just like EUR/USD trades in a narrow range. Moving averages stay down, which show a further decrease. The important levels that prevent the rise are located at 1.5712 and 1.5735. The important level that prevents the fall is located at 1.5631. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

AUD/USD currently corrects after its active fall. Moving averages stay horizontally, but there might be a further increase. The important level that prevents the rise is located at 0.8649. The important levels that prevent the fall are located at 0.8612 and 0.8565. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

USD/JPY currently corrects after its active rise. Moving averages stay horizontally, but there might be a further increase. The important levels that prevent the rise are located at 118.35 and 118.97. The important level that prevents the fall is located at 117.35. 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 1197. The important levels that prevent the fall are located at 1191 and 1177. 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.