Daily market review for 27.11.2014

The American dollar continues to fall already for the third consecutive trading session in a row. Today is a traditional holiday in the USA, therefore some unpredictable movements can occur during the American trading hours. Most likely the USD has started to correct after its active rise, but a common trend stays up. EUR/USD remains in a downtrend and is likely to perform a new phase of active decreasing in the nearest future. GBP/USD currently stabilizes and has some tendencies for a short-term rise. USD/JPY remains under pressure, but there might be a further increase in value. Gold continues to trade in a narrow range.

Market news

Important statistics for the Eurozone are expected today. Today is a traditional holiday in the USA, therefore no financial news will be published. No important data for the UK is expected today. As to the Eurozone, we recommend to pay attention to the German Unemployment Change, the data is expected to be positive and can affect the euro. Later this day, the ECB President Draghi will perform a speech, some multidirectional movements can occur during the event.

Our recommendations

EUR/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 1.2529. The important levels that prevent the fall are located at 1.2494 and 1.2442. 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 1.5804. The important levels that prevent the fall are located at 1.5776 and 1.5678. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

AUD/USD trades positively. Moving averages stay up, which shows a further increase. The important level that prevents the rise is located at 0.8601. The important levels that prevent the fall are located at 0.8528 and 0.8479. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

USD/JPY corrects after its active rise. Moving averages stay down, which shows a further decrease. The important levels that prevent the rise are located at 117.59 and 117.89. The important level that prevents the fall is located at 117.25. 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 1196 and 1202. The important level that prevents the fall is located at 1185. 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.