Daily market review for 07.03.2016

EUR/USD trades in a narrow range near the 1.09 level. The price chart’s further move is indefinite. GBP/USD, just like EUR/USD, trades in a narrow range. But the pair is likely to already have some negative tendencies. Traders should pay their attention to the asset's next move. USD/JPY also trades in a narrow range, but there might be a further rise. Gold trades positively near the 1261 level. The asset has succeeded to reach the 1279 mark, but afterwards the value had started to gradually fall. Now there might be a further growth, which gives traders a great chance to make profit.

Market news

Only some secondary data for the Eurozone, the UK and the USA are expected today, which won't strongly affect the market. There might be some short-term negative and positive tendencies.

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 1.1044. The important levels that prevent the fall are located at 1.0959 and 1.0903. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

GBP/USD trades in a narrow range. Moving averages stay horizontally, but there might be a further decrease. The important level that prevents the rise is located at 1.4249. The important levels that prevent the fall are located at 1.4178 and 1.4108. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

AUD/USD trades in a narrow range. Moving averages stay horizontally, but there might be a further decrease. The important level that prevents the rise is located at 0.7442. The important levels that prevent the fall are located at 0.7398 and 0.7367. 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 level that prevents the rise is located at 114.25. The important levels that prevent the fall are located at 113.50 and 113.12. 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 level that prevents the rise is located at 0.9989. The important levels that prevent the fall are located at 0.9923 and 0.9878. 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 72.37 and 73.38. The important level that prevents the fall is located at 71.53. 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 levels that prevent the rise are located at 1268 and 1279. The important level that prevents the fall is located at 1250. 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.