Daily market review for 29.10.2014

EUR/USD continues to trade in a narrow range, and has succeeded to strengthen higher than 1.27, which is a positive signal for buyers of the asset. Bears (sellers) are not showing any activity at the moment, which lets bulls (sellers) to hold the situation under control and increase medium-term positions. The US Dollar Index remains to trade positively. GBP/USD trades in a narrow range higher than 1.61. To be enable to go out of that range, a strong driver as a fundamental data is needed. USD/JPY continues to trade positively. Yesterday gold had a strong amplitude, but remained on the levels of the beginning of the day.

Market news

Important statistics for the Eurozone, Canada and the USA are expected today. As to the Eurozone, we recommend to pay attention to the German 10-year Bund Auction, the data is expected to be worse than the previous one and can negative impact the euro. As to Canada, we recommend to pay attention to the Raw Materials Price Index report, the forecast is positive and can affect the Canadian dollar. As regards to the USA, the FOMC statement will be made, some multidirectional movements are considered to happen during the event.

Our recommendations

EUR/USD trades positively. Moving averages stay horizontally, but there might be a further increase. The important level that prevents the rise is located at 1.2763. The important levels that prevent the fall are located at 1.2727 and 1.2683. 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 1.6181. The important levels that prevent the fall are located at 1.6127 and 1.6087. 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 horizontally, but there might be a further increase. The important level that prevents the rise is located at 0.8880. The important levels that prevent the fall are located at 0.8848 and 0.8817. 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 108.22. The important levels that prevent the fall are located at 108.07 and 107.68. 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 1230 and 1235. The important level that prevents the fall is located at 1226. 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.