Daily market review for 28.11.2014

EUR/USD is under strong selling pressure. The asset currently cannot succeed to go out of that range. Generally, the euro remains under pressure, therefore a further decline is possible. Investors still intend to sell the pair actively in a medium-term perspective. OPEC has decided to keep the oil production on the same level, which caused an active decrease in value. On this background the Russian Ruble continues to fall. GBP/USD is under selling pressure. USD/JPY trades positively. Gold is again under selling pressure.

Market news

Important statistics for the Eurozone and Canada are expected today. As to the Eurozone, we recommend to pay attention to the Consumer Price Index, the data is expected to be worse than the previous one and can negatively affect the euro. No important news for the UK will be published today. Today is a holiday in the USA. As regards to Canada, we recommend to pay attention to the GDP report, the forecast is positive and can influence the Canadian 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 1.2463 and 1.2497. The important level that prevents the fall is located at 1.2444. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

GBP/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 1.5741 and 1.5824. The important level that prevents the fall is located at 1.5703. 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 0.8551 and 0.8614. The important level that prevents the fall is located at 0.8484. 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 118.32. The important levels that prevent the fall are located at 117.68 and 117.22. 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 horizontally, but there might be a further increase. The important levels that prevent the rise are located at 1187 and 1199. The important level that prevents the fall is located at 1182. 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.