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BINARY OPTIONS INSIGHTS FOR NOVEMBER 17TH 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 17th, 2016 07:45am GMT, London UK

Friday and the week ahead.

OPEC freeze deal gains support from Russia.

Wednesday saw the Dollar hover close to a 14 year high against the other major currencies on the back of continued optimism regarding the US economy and the possibility of a near future US rate hike. The Dollar weakened slightly in the wake of data revealing the US producer price index rose 0.8 percent in October, as opposed to the expected 1.2 percent rise. The core PPI, excluding food and energy, dropped 0.2 percent in October, whereas a 0.2 percent rise had been forecast. In a separate report, it was shown that US industrial production was unchanged in October, quashing expectations for a 0.2 percent increase. The US currency remained broadly supported however, aided largely by the increasing expectation that the FED will raise interest rates at its upcoming December policy meeting.

EUR/USD fell 0.31 percent to a new 11 month low of 1.0690, while USD/JPY rose 0.28 percent to trade at 109.52. GBP/USD held steady at 1.2452.

Oil prices were practically unchanged on Wednesday November 16th as markets examined both Russian comments regarding a possible meeting with Saudi Arabia and news of a bigger than expected US crude inventory build. The Russian comments reignited hopes for a production freeze deal. Russia stated it is ready to back OPEC’S decision regarding an output freeze and is optimistic that the group will find agreeable terms for a freeze before November 30. This follows an almost 6 percent price jump on Tuesday on news that OPEC will renew its efforts to limit production ahead of its official meeting in Austria.

The US Energy Information Administration said on Wednesday that Crude stocks rose for the third week in a row, rising by a larger than forecast 5.3 million barrels last week.

Brent futures dropped 2 cents to $46.93 a barrel, while US crude rose by 7 cents/0.2 percent, to trade at $45.88 a barrel.

Gold futures rose on Wednesday, gains were limited however due to the rising expectation that the Federal Reserve will raise interest rates next month. Prices of the metal are down by more than 6 percent this past week as the possibility of increased fiscal spending along with tax cuts under the Trump presidency would boost economic growth and inflation, in turn resulting in a period of higher interest rates.

Gold for December delivery on the Comex division of the New York Mercantile Exchange rose by $3.10/0.25 percent, to $1,227.60 a troy ounce.

EUR/USD: A binary Call option coincides with the trend, seen below.
eurusd Binary Options Insights for November 17th 2016

USD/JPY: A binary Put option coincides with the trend, seen below.
usdjpy Binary Options Insights for November 17th 2016

GBP/USD: A binary Put option coincides with the trend, seen below.
gbpusd Binary Options Insights for November 17th 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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