Daily market review for 03.03.2015

EUR/USD is still under sales pressure. There are prospects for further fall if negative news are released regarding the European market. Overall many investors are watching the fall and the increasing volume of sells. GBP/USD just like the EUR/USD is under a huge sales pressure. Further fall could be expected if negative news regarding the UK market are released. USD/JPY is being corrected after its active growth; however, a further growth is very much likely. Gold is being traded positively and there are prospects for growth.

Market News

Today, traders are expecting important statistics regarding Europe and the UK. Europe will release data regarding the unemployment rate in Spain. We are expecting worst results then previously reported which can cause negative reaction towards the EUR. UK will be releasing statistics regarding the business activity in the building sector. Worst results are expected than previously reported and this can affect the currency negatively.

Recommendations

EUR/USD is being traded in a narrow corridor. The moving averages are currently in a horizontal position but a further fall might take place. The important level of growth to watch for is in the borders of 1.1200 and 1.1239. The important level of fall is around the border of 1.1175. Keep a close look at the level of resistance and consider opening a PUT option. The same goes for the level of support. In that case, you should consider opening a CALL option.

 

GBP/USD is being traded in a narrow corridor. The moving averages are in an upwards position which can indicate a possible growth. The important level of growth to watch for is around the border of 1.5393 and 1.5420. The important level of fall is around the borders of 1.5350. Keep a close look at the level of resistance and consider opening a PUT option. The same goes for the level of support. In that case you should consider opening a CALL option.

 

AUD/USD is being traded positively. The moving averages are in a horizontal position, however further growth can be expected. The important level of growth to watch for is around the border of 0.7840. The important level of fall is around the borders of 0.7819 and 0.7751. Keep a close look at the level of resistance and consider opening a PUT option. The same goes for the level of support. In that case, you should consider opening a CALL option.

 

USD/JPY is being traded negatively. Moving averages are in a downwards position which can indicate a further fall. The important level of growth to watch for is around the border of 119.79 and 120.25. The important level of fall is around the borders of 119.56. Keep a close look at the level of resistance and consider opening a PUT option. The same goes for the level of support. In that case, you should consider opening a CALL option.

 

USD/CHF is being traded in a narrow corridor. The moving averages are in a downwards position and further fall is expected. The important level of growth to watch for is around the border of 0.9579 and 0.9596. The important level of fall is around the borders of 0.9545. Keep a close look at the level of resistance and consider opening a PUT option. The same goes for the level of support. In that case, you should consider opening a CALL option.

 

USD/RUB is being traded in a narrow corridor. The moving averages are in a horizontal position but further growth is expected. The important level of growth to watch for is around the border of 62.72. The important level of fall is around the borders of 61.24 and 60.75. Keep a close look at the level of resistance and consider opening a PUT option. The same goes for the level of support. In that case, you should consider opening a CALL option.

 

GOLD is currently being traded in a positive manner. The moving averages are in a horizontal level but a future growth is possible. The important level of growth to watch for is around the border of 1211. The important level of fall is around the borders of 1207 and 1195. Keep a close look at the level of resistance and consider opening a PUT option. The same goes for the level of support. In that case, you should consider opening a CALL option.

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.