Daily market review for 04.02.2016

EUR/USD has reached the 1.11 mark, but then started to gradually decrease in value. Now the pair locates near the 1.10 level, but trades in a narrow range. GBP/USD trades negatively and keeps tendencies for a further decline. GBP/USD’s price chart might change its direction during the day, since the Interest rate decision for the UK will be released. USD/JPY has returned to 118, but currently trades in a narrow range. Gold has showed the record growth by reaching the 1145 mark, and has renewed its two-month high. Now the asset trades near the 1142 level and keeps perspectives for a further growth.

Market news

Important statistics for the Eurozone and the UK are expected today. Only some secondary data for the USA will be published today and won't strongly affect the market. As to the Eurozone, the ECB Governor Draghi will perform a speech, which can cause various short-term and long-term tendencies. As to the UK, the Interest rate decision will be released, which will define the further value of the British pound. The data is expected to remain on the previous level and can positively influence the GBP's value.

Our recommendations

EUR/USD 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 1.1146. The important levels that prevent the fall are located at 1.1046 and 1.0905. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

GBP/USD trades negatively. Moving averages stay horizontally, but there might be a further decrease. The important level that prevents the rise is located at 1.4649. The important levels that prevent the fall are located at 1.4540 and 1.4383. 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 horizontally, but there might be a further increase. The important level that prevents the rise is located at 0.7190. The important levels that prevent the fall are located at 0.7134 and 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 levels that prevent the rise are located at 118.25 and 120.08. The important level that prevents the fall is located at 117.05. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

USD/CHF 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 1.0091 and 1.0194. The important level that prevents the fall is located at 0.9988. 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 78.35 and 79.82. The important level that prevents the fall is located at 76.48. 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 1145. The important levels that prevent the fall are located at 1136 and 1124. 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.