Daily market review for 02.03.2016

EUR/USD continues to locate near the 1.08 level, and currently trades negatively with perspectives for a further decline. GBP/USD trades positively. The pair still locates near the 1.39 mark, and there might be a further increase. There are some positive tendencies in the USD/JPY's price chart after the prolonged sideways trading. The pair has succeeded to reach the 114 level, and has perspectives for a further growth. Gold has shown a sharp decline by falling down to the 1224 mark, but currently trades in a narrow range. There might be a trend reversal and a further increase.

Market news

Important statistics for the UK and the USA are expected today. As to the UK, the Construction PMI report will be released. The data is expected to be better than the previous one and can positively affect the British pound. As to the USA, we recommend to pay attention to the ADP Nonfarm employment change and the Crude oil inventories. The reports might have a strong impact on the USD’s further value.

Our recommendations

EUR/USD trades negatively. Moving averages stay down, which show a further decrease. The important levels that prevent the rise are located at 1.0867 and 1.0885. The important level that prevents the fall is located at 1.0834. 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 up, which show a further increase. The important level that prevents the rise is located at 1.4019. The important levels that prevent the fall are located at 1.3943 and 1.3904. 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 level that prevents the rise is located at 0.7244. The important levels that prevent the fall are located at 0.7164 and 0.7119. 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 up, which show a further increase. The important level that prevents the rise is located at 114.31. The important levels that prevent the fall are located at 113.74 and 112.90. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

USD/CHF trades positively. Moving averages stay up, which show a further increase. The important level that prevents the rise is located at 1.0009. The important level that prevents the fall is located at 0.9955. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

USD/RUB trades negatively. Moving averages stay down, which show a further decrease. The important levels that prevent the rise are located at 74.28 and 75.41. The important level that prevents the fall is located at 73.04. 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 1236 and 1247. The important level that prevents the fall is located at 1224. 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.