Daily market review for 03.02.2016

EUR/USD continues to trade positively and still locates near the 1.09 mark with perspectives for a further rise. GBP/USD, just like EUR/USD, trades positively. The pair has reached the 1.44 level, and has tendencies for a further growth. USD/JPY trades near its important support level at 119, but there might be a trend reversal because of the US economic reports for today. Gold continues to trade near its highs and currently locates near the 1127 mark. The asset keeps tendencies for a further rise. Traders have a great chance to open a profitable trade.

Market news

Important statistics for the UK and the USA are expected today. Only some secondary data for the Eurozone will be published today, and won't strongly affect the market. As to the UK, we recommend to pay attention to the Services PMI report, the data is expected to be worse than the previous one and can negatively affect the British pound. As to the USA, the ISM Non-Manufacturing and the Crude oil inventories reports will be released. The forecasts for both reports are negative and can influence the further value of the American dollar.

Our recommendations

EUR/USD trades positively. Moving averages stay up, which show a further increase. The important level that prevents the rise is located at 1.0940. The important levels that prevent the fall are located at 1.0912 and 1.0893. 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 1.4446. The important levels that prevent the fall are located at 1.4392 and 1.4326. 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 0.7054 and 0.7089. The important level that prevents the fall is located at 0.7002. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

USD/JPY trades negatively. Moving averages stay horizontally, but there might be a further decrease. The important levels that prevent the rise are located at 120.24 and 120.88. The important level that prevents the fall is located at 119.44. 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 levels that prevent the rise are located at 1.0194 and 1.0224. The important level that prevents the fall is located at 1.0170. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

USD/RUB trades positively. Moving averages stay horizontally, but there might be a further decrease. The important level that prevents the rise is located at 79.84. The important levels that prevent the fall are located at 78.57 and 77.67. 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 up, which show a further increase. The important level that prevents the rise is located at 1130. The important levels that prevent the fall are located at 1125 and 1121. 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.