Daily market review for 17.03.2016

The American dollar has significantly decreased in value after the Interest rate decision announcement, which strongly affected all the three assets. EUR/USD has shown an active rise by reaching the 1.12 mark, but now trades in a narrow range. USD/JPY has fallen down to 112. But a slight trend reversal is currently seen. Gold's value has started to grow. The asset's price is located at 1257. It has perspectives for a further rise.

Market news

Important statistics for the Eurozone and the USA are expected today. As to the Eurozone, we recommend to pay attention to the Consumer price index. The data is expected to remain on the previous level and can positively affect the euro. As to the USA, the Philadelphia Fed Manufacturing index report will be released. The forecast is positive and can influence the American dollar.

Our recommendations

EUR/USD trades in a narrow range. Moving averages stay horizontally, but there migh be a further increase. The important level that prevents the rise is located at 1.1242. The important levels that prevent the fall are located at 1.1193 and 1.1057. 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 112.96 and 113.82. The important level that prevents the fall is located at 111.93. 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 1263. The important levels that prevent the fall are located at 1253 and 1226. 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