Daily market review for 01.02.2016

EUR/USD is gradually increasing in value and trades near the 1.08 mark with no further tendencies. GBP/USD trades in a narrow range and has returned to its value at 1.42. USD/JPY last Friday had risen by 2 points, but currently also trades in a narrow range. Further price fluctuations in currency pairs are only expected at the time of important economic releases. Gold continues to trade near its maximum values and locates near the 1121 mark. The asset keeps perspectives for a further increase.

Market news

Important statistics for the Eurozone, the UK and the USA are expected today. The Manufacturing PMI reports for all the three regions will be released. As to the Eurozone, the data is expected to remain on the previous level and can positively affect the euro. The forecasts for the UK and the USA are negative and can influence the further values of the British pound and the American dollar.

Our recommendations

EUR/USD trades positively. Moving averages stay horizontally, but there might be a further increase. The important levels that prevent the rise are located at 1.0870 and 1.0949. The important level that prevents the fall is located at 1.0810. 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 increase. The important levels that prevent the rise are located at 1.4306 and 1.4415. The important level that prevents the fall is located at 1.4150. 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 show a further increase. The important levels that prevent the rise are located at 0.7108 and 0.7140. The important level that prevents the fall is located at 0.7042. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

USD/JPY 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 121.70. The important levels that prevent the fall are located at 120.64 and 118.54. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

USD/CHF trades negatively. Moving averages stay horizontally, but there might be a further decrease. The important level that prevents the rise is located at 1.0256. The important levels that prevent the fall are located at 1.0200 and 1.0134. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

USD/RUB 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 76.31. The important levels that prevent the fall are located at 75.16 and 74.53. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

GOLD trades positively. Moving averages stay horizontally, but there might be a further increase. The important level that prevents the rise is located at 1122. The important levels that prevent the fall are located at 1115 and 1110. 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.