Daily market review for 29.02.2016

EUR/USD trades in the downtrend near the 1.09 mark, but has just started to gradually increase in value. GBP/USD fell down to 1.38, but currently trades in a narrow range. After the pair’s prolonged decline, its value is likely to grow further. USD/JPY continues to actively decrease in value and still locates near the 112 level with perspectives for a further fall. Gold's value has slightly dropped, but now is showing an intense growth. The asset's price has currently stopped at 1227. It has tendencies for a further rise. We recommend traders to pay special attention to the price chart's further move.

Market news

Important statistics for the Eurozone and the USA are expected today. As to the Eurozone, the Consumer price index report will be released, the data is expected to be worse than the previous one and can negatively affect the euro. As to the USA, we recommend to pay attention to the Pending home sales report. The forecast is positive and can influence the American dollar.

Our recommendations

EUR/USD trades positively. Moving averages stay up, which show a further increase. The important levels that prevent the rise are located at 1.0981 and 1.1065. The important level that prevents the fall is located at 1.0912. 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 1.3905 and 1.4043. The important level that prevents the fall is located at 1.3841. 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 0.7174 and 0.7233. The important level that prevents the fall is located at 0.7108. 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 113.46 and 114.00. The important level that prevents the fall is located at 112.71. 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 0.9988. The important level that prevents the fall is located at 0.9906. 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 level that prevents the rise is located at 76.36. The important levels that prevent the fall are located at 75.11 and 74.44. 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 1230 and 1237. The important level that prevents the fall is located at 1211. 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.