Daily market review for 23.01.2015

EUR/USD remains under strong pressure. After the yesterday’s ECB press conference, EUR/USD has begun a new phase of decreasing. It was decided, that the asset’s purchase program would be extended up to 60 billion per month. Following the news, the pair has renewed its 11-year low this time. As well as EUR/USD, GBP/USD has renewed its one-year low. USD/JPY trades positively and has perspectives for a further rise. Gold trades in a narrow range and has perspectives to further 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 results are expected to be worse than the previous ones and can negatively impact the British pound. As regards to the USA, we recommend to pay attention to the Existing Home Sales, the forecast is positive and can influence the American dollar.

Our recommendations

EUR/USD trades negatively. Moving averages stay down, which show a further decrease. The important levels that prevent the rise are located at 1.1336 and 1.1372. The important level that prevents the fall is located at 1.1313. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

GBP/USD trades negatively. Moving averages stay horizontally, but there might be a further decrease. The important levels that prevent the rise are located at 1.5026 and 1.5211. The important level that prevents the fall is located at 1.4971. 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 0.8052 and 0.8133. The important level that prevents the fall is located at 0.7964. 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 level that prevents the rise is located at 118.78. The important levels that prevent the fall are located at 118.20 and 117.22. 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 level that prevents the rise is located at 1307. The important levels that prevent the fall are located at 1293 and 1279. 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.