Daily market review for 03.03.2016

EUR/USD is still located near the 1.08 level, and currently trades negatively with perspectives for a further decline. GBP/USD trades positively. The pair has succeeded to reach the 1.41 mark, and has tendencies for a further growth. USD/JPY continues to trade near the 114 level. The pair trades positively, but a slight trend reversal in the asset's price chart is seen. Therefore there might be a further decrease. Gold has reached the 1244 level, but afterwards showed a short fall. Now the asset trades positively and keeps tendencies for a further rise.

Market news

Important statistics for the UK and the USA are expected today. As to the UK, the Services PMI report will be released. The data is expected to be worse than the previous one and can negatively affect the British pound. As to the USA, we recommend to pay attention to the ISM Non-Manufacturing PMI report. The forecast is negative and can strongly influence the American dollar.

Our recommendations

EUR/USD trades negatively. Moving averages stay horizontally, but there might be a further decrease. The important level that prevents the rise is located at 1.0876. The important levels that prevent the fall are located at 1.0854 and 1.0826. 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 1.4094. The important levels that prevent the fall are located at 1.4025 and 1.3915. 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 0.7323. The important levels that prevent the fall are located at 0.7280 and 0.7200. 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 114.56. The important levels that prevent the fall are located at 113.71 and 113.22. 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 down, which show a further decrease. The important levels that prevent the rise are located at 0.9982 and 1.0009. The important level that prevents the fall is located at 0.9956. 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 horizontally, but there might be a further increase. The important levels that prevent the rise are located at 73.65 and 74.19. The important level that prevents the fall is located at 72.96. 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 1243. The important levels that prevent the fall are located at 1237 and 1227. 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.