Daily market review for 28.10.2014

The market shows no strong movements. After the negative data for the Eurozone from yesterday, EUR/USD decreased, but later stabilized during the American trading hours. The common sentiment is positive, and investors mostly consider to see a further rise of the euro. Many speculators are expecting statistics on this Friday, as it can significantly affect the euro. GBP/USD tends to rise, but some positive fundamental news for the UK is necessary to see a further increase in value. USD/JPY tends to trade positively and is located near 108. Gold is again under selling pressure.

Market news

Important statistics for the USA are expected today. There is no important news for the Eurozone and the UK. As regards to the USA, we recommend to pay attention to the Core Durable Goods Orders, the data is expected to be better than the previous one and can positively impact the American dollar. Later this day, the Conference Board Consumer Confidence report will be published, the forecast is positive and can also affect the American dollar.

Our recommendations

EUR/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 1.2722. The important levels that prevent the fall are located at 1.2694 and 1.2664. 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 levels that prevent the rise are located at 1.6029 and 1.6046. The important level that prevents the fall is located at 1.6010. 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 0.8827. The important levels that prevent the fall are located at 0.8809 and 0.8794. 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 107.97. The important levels that prevent the fall are located at 107.75 and 107.59. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

GOLD is under pressure. Moving averages stay up, which show a further increase. The important levels that prevent the rise are located at 1229 and 1232. The important level that prevents the fall is located at 1222. 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.