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BINARY OPTIONS INSIGHTS FOR NOVEMBER 1ST 2016

BITCOIN 781.950 11:20 03.12
BitCoin/CNY 5382.550 11:20 03.12
BITCOIN 782.045 11:00 03.12
BitCoin/CNY 5383.210 11:00 03.12
BITCOIN 782.136 10:40 03.12
BitCoin/CNY 5383.835 10:40 03.12
BITCOIN 782.186 10:20 03.12
BitCoin/CNY 5384.175 10:20 03.12
BITCOIN 782.498 10:00 03.12
BitCoin/CNY 5386.325 10:00 03.12
BITCOIN 780.288 09:40 03.12
BitCoin/CNY 5371.115 09:40 03.12
BITCOIN 781.315 09:20 03.12
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By: Adam Stone
November 1st, 2016 07:45am GMT, London UK

Market Recap & Outlook:

Oil prices fall, concerns grow regarding OPEC production deal implementation.

Monday saw the Dollar remain broadly higher against the other major currencies, supported by increasing optimism over the status of the US economy. On Monday October 31st the US Commerce Department said that consumer spending increased by 0.5 percent in September, as expected and compared to a fall of 0.1 percent in August.

Meanwhile, personal income rose by 0.3 percent in September, having risen by 0.2 percent the previous month. The Dollar was already supported following a stronger than forecast preliminary estimate of US third quarter economic growth which boosted the case for a Federal Reserve interest rate hike in December. The US dollar index, which measures the US currency’s strength against a trade weighted basket of six major currencies, was up 0.34 percent at 98.64, close to last Tuesday’s near nine month high of 99.09.

EUR/USD fell 0.41 percent to 1.0941, GBP/USD fell 0.27 percent to trade at 1.2161, while USD /JPY rose 0.47 percent to trade at 105.21.

Oil prices added to overnight losses on Monday, falling to a new one month low amid growing skepticism regarding the implementation of a planned OPEC deal to limit production. On Saturday,non OPEC members made no commitment to join OPEC in limiting oil output levels, stating instead that they would prefer OPEC to resolve its own differences first. On Friday, OPEC members had failed to agree on how to put in place a global deal to limit production, following objections from Iran which has been reluctant to freeze its own output.

Crude oil for December delivery on the New York Mercantile Exchange was last trading at $47.99, down 69 cents/1.42 percent, after falling $1.02/2.05 percent on Friday. Brent oil for January delivery fell 69 cents/1.32 percent to $50.05 a barrel, after settling down 92 cents/1.78 percent on Friday.

Gold prices edged lower on Monday, as the US dollar rebounded from Friday’s selloff, which came after the FBI said it would review more emails related to Hillary Clinton’s private email use.
Gold for December delivery fell $2.95/0.23 percent, to trade at $1,273.85 a troy ounce, while Silver futures for December delivery tacked on 1.1 cents/0.06 percent to trade at $17.80 a troy ounce.

EUR/USD: A binary Put option coincides with the trend, seen below.
eurusd Binary Options Insights for November 1st 2016

GBP/USD: A binary Put option coincides with the trend, seen below.
gbpusd Binary Options Insights for November 1st 2016

USD/JPY: A binary Put option coincides with the trend, seen below.
usdjpy Binary Options Insights for November 1st 2016

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Adam Stone
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Adam Stone

As COO of GOptions, my first and foremost goal is to provide traders with the most up to date info from the markets. I have been trading the markets since 2004 and have been involved with stocks, binary options, and forex trading since then. I have had no formal market education and pride myself on a self taught approach to everything related to trading. I try to focus though on both the technical and fundamental aspects related to each trading day and bring forward the most important aspects of risk/reward in the market.
Adam Stone
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