Daily market review for 24.11.2014

EUR/USD currently continues to fall after the speech of the Head of the ECB (European Central Bank ) Mario Draghi was performed on last Friday. The Head of the ECB mentioned, that the regulator would tend to inflation increase, which actually caused an active fall of the asset. If the ECB attempts to stimulate inflation with all possible measures, the euro will continue to decline actively. GBP/USD, just like EUR/USD, is located under pressure. The whole sentiment in the British pound is negative and a further decrease in value is possible. USD/JPY currently stabilizes. Gold continues to trade in a narrow range, and there are some tendencies for a further rise.

Market news

Today we recommend to pay attention to statistics for the Eurozone and the USA. As to the Eurozone, we recommend to pay attention to the German Ifo Business Climate Index, the data is expected to be worse than the previous one and can cause a further fall of EUR/USD. No important statistics for the UK are expected today. As regards to the USA, we recommend to pay attention to the Services PMI, the results are expected to be better than the previous ones and can positively affect the American dollar.

Our recommendations

EUR/USD is under strong pressure. Moving averages stay horizontally, but there might be a further decrease. The important levels that prevent the rise are located at 1.2433 and 1.2566. The important level that prevents the fall is located at 1.2358. 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 up, which show a further increase. The important levels that prevent the rise are located at 1.5669 and 1.5712. The important level that prevents the fall is located at 1.5625. 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 0.8699 and 0.8720. The important level that prevents the fall is located at 0.8659. 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 118.11. The important levels that prevent the fall are located at 117.57 and 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 levels that prevent the rise are located at 1204 and 1208. The important level that prevents the fall is located at 1191. 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.