Daily market review for 23.02.2016

EUR/USD has fallen down to the 1.10 mark, but currently trades in a narrow range. New trends are expected during the day. GBP/USD, just like EUR/USD, trades in a narrow range. The pair’s price has dropped down to the 1.41 level, and has perspectives for a further decline. USD/JPY traded positively, but now has started to gradually decrease in value, and keeps tendencies for a further fall. Gold's value has slightly fallen from the 1222 mark down to 1216. The asset's price has currently stopped at 1216. There might be a further decrease, which gives traders a great chance to make good profit.

Market news

Important statistics for the Eurozone, the UK and the USA are expected today. As to the Eurozone, we recommend to pay attention to the German GDP report. The data is expected to remain on the previous level and can positively affect the euro. As to the UK, the inflation report hearings are expected, which can cause some fluctuations in the GBP’s further value. As to the USA, the CB Consumer confidence report will be released. The forecast is negative and might have a negative impact on 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 levels that prevent the rise are located at 1.1049 and 1.1119. The important level that prevents the fall is located at 1.1003. 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 levels that prevent the rise are located at 1.4179 and 1.4290. The important level that prevents the fall is located at 1.4057. 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 up, which show a further increase. The important level that prevents the rise is located at 0.7246. The important levels that prevent the fall are located at 0.7212 and 0.7156. 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 112.56 and 113.39. The important level that prevents the fall is located at 111.97. 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 level that prevents the rise is located at 1.0003. The important levels that prevent the fall are located at 0.9948 and 0.9909. We recommend to sell Put Options at the resistance levels and to buy Call Options at the support levels.

 

USD/RUB 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 75.94 and 77.29. The important level that prevents the fall is located at 74.92. 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 down, which show a further decrease. The important level that prevents the rise is located at 1222. The important levels that prevent the fall are located at 1206 and 1201. 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