Daily market review for 26.11.2014

Many investors expect a further strengthening of the American dollar. On background of an economic recovery, interest rates are likely to increase already in 2015. The euro will continue to fall in a medium-term perspective, because of the difficult economic situation in Europe. EUR/USD still remains under selling pressure. GBP/USD, just like EUR/USD, is under selling pressure. USD/JPY consolidates after its active rise. The asset’s sentiment remains positive, and a further increase in value is possible from these levels. Gold continues to trade in a narrow range.

Market news

A lot of important statistics for the Eurozone, the UK and the USA is expected today. As to the Eurozone, we recommend to pay attention to the German 10-year Bund Auction. As to the UK, we recommend to pay attention to the GDP report, the data is expected to remain on the same level, but in case of any negative results GBP/USD will continue to fall. As regards to the USA, we recommend to pay attention to the Core Durable Goods Orders, the forecast is positive and can 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 level that prevents the rise is located at 1.2485. The important levels that prevent the fall are located at 1.2458 and 1.2401. 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 horizontally, but there might be a further decrease. The important level that prevents the rise is located at 1.5734. The important levels that prevent the fall are located at 1.5692 and 1.5648. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

AUD/USD is under pressure. Moving averages stay horizontally, but there might be a further decrease. The important levels that prevent the rise are located at 0.8562 and 0.8606. The important level that prevents the fall is located at 0.8513. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

USD/JPY is under pressure. Moving averages stay horizontally, but there might be a further increase. The important levels that prevent the rise are located at 117.99 and 118.27. The important level that prevents the fall is located at 117.65. 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 levels that prevent the rise are located at 1200 and 1203. The important level that prevents the fall is located at 1195. 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.