Daily market review for 08.03.2016

EUR/USD has risen up to the 1.10 level, but still trades in a narrow range. The price chart’s further move is indefinite. GBP/USD trades negatively and keeps perspectives for a further fall. USD/JPY trades negatively and still locates near the 113 mark with tendencies for a further decline. Gold continues to increase in value. The asset's price has currently stopped at 1269. There might be a further growth, which gives traders another chance to make good profit.

Market news

As to the Eurozone and the USA, there will be only some secondary data, which won't strongly affect the market. As to the UK, we recommend to pay attention to the speech of Mr.Carney, the head of the Bank of England, which can cause various price fluctuations.

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 1.1029. The important levels that prevent the fall are located at 1.1003 and 1.0940. 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 1.4284. The important levels that prevent the fall are located at 1.4238 and 1.4134. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

AUD/USD trades negatively. Moving averages stay down, which show a further decrease. The important levels that prevent the rise are located at 0.7440 and 0.7484. The important level that prevents the fall is located at 0.7392. 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 down, which show a further decrease. The important levels that prevent the rise are located at 113.25 and 113.80. The important level that prevents the fall is located at 112.75. 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 0.9964 and 1.0012. The important level that prevents the fall is located at 0.9925. 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 up, which show a further increase. The important level that prevents the rise is located at 72.37. The important level that prevents the fall is located at 71.07. 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 1272. The important levels that prevent the fall are located at 1265 and 1258. 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.