Daily market review for 15.03.2016

EUR/USD still locates near the 1.11 mark and currently trades in a narrow range. There might be a further decrease. USD/JPY has shown a sharp fall after the announcement of the Interest rate decision for Japan, which has remained on the previous level. Now the pair has started to grow, but the price chart's further move is indefinite. We recommend traders not to open any positions until a clear trend finally forms. Gold continues to actively decrease in value. Now the asset's price has stopped at 1227 and keeps perspectives for a further fall.

Market news

Only the US important statistics are expected today. We recommend to pay attention to the Core Retails Sales, the Retail sales and the Producer price index data. The forecasts for all the three reports are negative and might influence the American dollar.

Our recommendations

EUR/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 1.1135. The important level that prevents the fall is located at 1.1078. 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 levels that prevent the rise are located at 113.71 and 114.14. The important level that prevents the fall is located at 113.22. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

GOLD trades negatively. Moving averages stay horizontally, but there might be a further decrease. The important levels that prevent the rise are located at 1237 and 1258. The important level that prevents the fall is located at 1225. 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.