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BINARY OPTIONS DAILY ANALYSIS 3-4-2014

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: Daniel Gant
April 3rd, 2014 7:25am GMT, London UK
 

EUR/USD
The EUR/USD is ranging at the moment after falling a little earlier in the morning. Today, the pair may move substantially due to the ECB interest rate decision and press conference happening at 11:45 GMT and 12:30 GMT respectively. There is also the Euro zone Services PMI and retail Sales data earlier in the morning at 8:00 GMT AND 9:00 GMT respectively. Thus, there are a lot of factors that will influence the pair’s movement today and it will be hard to tell what will happen until we have more information.

USD/JPY
The USD/JPY has been climbing for the last few days as the yen has lost its appeal as a safe haven asset. Investors are convinced that the Chinese government will provide stimulus to counteract lackluster growth, and so fleeing to the yen will no longer be necessary. Furthermore, an increase in the Japanese sales tax has also been pushing the pair up as the yen loses purchasing power. Today, the pair retraced a small amount of these gains, but the pressure still seems upward due to the aforementioned circumstances. However, be sure to pay attention to the Trade balance and Initial jobless claims data coming out at 12;30 GMT and the ISM Non-manufacturing PMI coming out at 14:00 GMT.

Gold
Gold climbed a little yesterday due to increased physical demand. Traders felt that the relatively low in the price at this point would make buying the precious metal good investment. Today, the pair is ranging in anticipation of US data coming out later today. Ultimately, gold will be responding mostly to changes in US monetary policy. Thus, any information from America that the Fed may use as justification for an interest rate change or a continuation of tapering will be sure to have significant effect on the yellow metal’s value as a safe haven asset. Be sure also to pay attention to tomorrow’s Nonfarm Payrolls report.

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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.
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