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EUR/USD FLIES HIGHER

GBP/USD 1.24430 17:20 22.02
EUR/USD 1.05615 17:20 22.02
OIL-APR17 (BRENT) 55.815 17:15 22.02
ALIBABA 104.870 17:15 22.02
AUD/USD 0.76832 17:15 22.02
AUD/JPY 87.185 17:15 22.02
SILVER 17.963 17:15 22.02
GOLD/EUR 1167.045 17:15 22.02
OIL-MAR17(WTI CRUDE) 53.980 17:15 22.02
GOLD 1232.476 17:15 22.02
EUR/JPY 119.846 17:15 22.02
USD/JPY 113.478 17:15 22.02
GBP/USD 1.24423 17:10 22.02
EUR/USD 1.05583 17:10 22.02
BitCoin/CNY 7487.500 17:00 22.02
USD/MXN 19.919 17:00 22.02
WELLS FARGO 58.325 17:00 22.02
USD/CHF 1.01100 17:00 22.02
OIL-APR17 (BRENT) 55.725 17:00 22.02
TOYOTA (US) 114.275 17:00 22.02
SONY 31.285 17:00 22.02
COLGATE-PALMOLIVE 73.035 17:00 22.02
FIAT CHRYSLER 11.35 17:00 22.02
X
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Markets are showing similar ambivalence to the situation to that of the Federal Reserve. Yesterday, the FED released the minutes from its latest meeting, which was held just before the release of the NFP data. This is crucial as it seems that during the meeting, there was no meeting of minds as to the timing of the tapering of the quantitative easing policy currently in place since September 2012. Binary options traders must have noticed that this news was the reason that US markets didn’t manage to generate much momentum and as such, things just sort of hung. But it’s key to realize that despite the lack of agreement on the timing, the end is agreed to. So it’s just a question of when and how and not if.

 

 

Binary options traders looking at the coming day will then see that there are a great deal of opportunities based on this background of news and data. Considering the fact that the markets seems to be rather accepting that the end is near, an uptrend can now get back on track. Yes, despite relatively bad news for the truly bullish, the uptrend should remain in play. The Dow did fall just below 15300 yesterday, but our analysis sees this as purely temporary and the behavior of the index should allow for an easy and low risk trade if the index jumps over 15300 to the upside, as has occurred so many times before.

 

 

Of course, some news today could move markets a bit. Initial Jobless claims in the US at 12:30 GMT may have some impact, but don’t expect an ground shaking move here. Certainly nothing like what happened with the forex pairs yesterday. For those who didn’t see the move, it was rather epic.

 

 

The news from the Fed may not have effected the US markets and they remained rather steadfast. But the USD was having none of it. It was pick up and run for the dollar as soon as the news hit. The EUR/USD headed up from the 1.2780 reached earlier before the release to a high of a 1.3206. The move was far larger than anyone could have expected or built on. We were expecting some movement and even some weakness to the USD, but certainly not a 2% + movement.

 

 

For forex binary options, today could be another interesting day. The EUR/USD has already started to correct the move from yesterday trading near 1.3060 which is a serious correction. It seems to us that the move yesterday was an exaggerated one and we expect the forex pair to stabilize near 1.2950 in the coming 12-18 hours. After that we actually expect the USD to continue its move higher so expect the EUR/USD to continue heading down even if it stalls near 1.2950. A couple of sticky points (supports) include 1.3030, 1.2995, and 1.2950. These 3 levels are of key importance for binary options traders today and need to be heeded.

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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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