Daily market review for 23.03.2015

EUR/USD trades positively. The pair has succeeded to strengthen higher than 1.08, which is the positive signal for buyers of the asset. It has perspectives for a further rise with the targets to reach the 1.10 level, but some positive data for the Eurozone is needed. GBP/USD, just like EUR/USD trades positively, and has perspectives to further increase in value up to 1.52. USD/JPY trades negatively and keeps tendencies for a further decline. Gold trades positively and has perspectives for a further rise with the target to aim 1200.

Market news

Important statistics for the Eurozone, the UK and the USA are expected today. As to the Eurozone, the ECB president Draghi will perform a speech. Some multidirectional movements can occur during the event. As to the UK, the CBI Industrial Trends Orders report will be published. As regards to the USA, we recommend to pay attention to the Existing Home Sales report, the data is expected to be better than the previous one and can positively affect the American dollar.

Our recommendations

EUR/USD trades positively. Moving averages stay horizontally, but there might be a further increase. The important levels that prevent the rise are located at 1.0833 and 1.0879. The important level that prevents the fall is located at 1.0782. 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 1.4988. The important levels that prevent the fall are located at 1.4915 and 1.4721. 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 increase. The important level that prevents the rise is located at 0.7831. The important levels that prevent the fall are located at 0.7766 and 0.7661. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

USD/JPY trades negatively. Moving averages stay horizontally, but there might be a further decrease. The important levels that prevent the rise are located at 120.25 and 121.19. The important level that prevents the fall is located at 119.75. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

USD/CHF trades negatively. Moving averages stay horizontally, but there might be a further decrease. The important levels that prevent the rise are located at 0.9796 and 0.9903. The important level that prevents the fall is located at 0.9729. 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 levels that prevent the rise are located at 59.45 and 60.59. The important level that prevents the fall is located at 58.74. 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 1188. The important levels that prevent the fall are located at 1181 and 1170. 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.