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FOREX PAIRS AND INDICES LOOK HIGHER

EUR/USD 1.07698 08:10 06.12
FTSE F-DEC16 6745.750 08:00 06.12
USD/RUB 63.806 08:00 06.12
USD/CHF 1.00590 08:00 06.12
OIL-FEB17 (BRENT) 54.685 08:00 06.12
COPPER-NOV16 2.6553 08:00 06.12
NZD/CHF 0.71775 08:00 06.12
CAD/CHF 0.75864 08:00 06.12
NZD/USD 0.71357 08:00 06.12
EUR/AUD 1.44544 08:00 06.12
CAD/JPY 85.854 08:00 06.12
AUD/USD 0.74454 08:00 06.12
AUD/JPY 84.756 08:00 06.12
GBP/USD 1.27552 08:00 06.12
VTB BANK 0.068930 08:00 06.12
TENCENT HOLDINGS 190.150 08:00 06.12
ROSNEFT' 350.875 08:00 06.12
GOLD VS SILVER 69.8109 08:00 06.12
EUR/GBP 0.84379 08:00 06.12
OIL-JAN17(WTI CRUDE) 51.435 08:00 06.12
SILVER 16.805 08:00 06.12
GOLD/EUR 1090.185 08:00 06.12
GOLD 1173.311 08:00 06.12
NASDAQ F-DEC16 4779.125 08:00 06.12
GOLD VS OIL 21.4558 08:00 06.12
USD/CAD 1.32590 08:00 06.12
S.BANK INDIA 259.675 08:00 06.12
AXIS BANK 460.725 08:00 06.12
TATA STEEL 414.100 08:00 06.12
TATA MOTORS 443.150 08:00 06.12
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Markets rebounded somewhat yesterday despite starting the day in the red. By session’s end, the S&P closed up 0.81% to 1782 which is the actual resistance and a break today could be very interesting for binary options traders. The next levels of interest for both index and binary traders will be the 1790 level which is only about 0.5% away and very doable in terms of reaching said target. The market is building up momentum in what looks to be a big day of trading ahead.
 

News will possibly carry the trend forward as we look towards an array of economic data. Of course, bad news will push the trend back to the doldrums of last week, but we anticipate high volatility to help push things higher for binary options traders today.

 

For starters, the day will feature news from the US economy in the form of Initial Jobless claims which are expected to show approximately 330k claimants for the previous week. This will of course be compared to the previous result of 336k. When looking at these figures over the last year, it’s hard not to notice the rather flat line looking trend. Things just aren’t improving in the unemployment figures when it comes to unemployment benefit claims and this is very telling about the economy as a whole. Sure, more American citizens are finding jobs, but those out of work and making new claims, aren’t changing. This is why it’s so critical for the US to create much more than 200k new jobs per month seeing as how more than 300k are unable to find work and are thus in need of governmental assistance. With nearly 100k net unable to find jobs, it means that the Federal Reserve will be hard pressed to taper its quantitative easing plans and this despite recent grumblings to the contrary. We are also of the belief that the Fed will taper and probably by end of January. However, the point to note here is that the tapering will likely be very modest if at all.

 

As such, binary options traders will be able to continue looking north when it comes to the trends for stocks and stock indices in the coming weeks and months. Today will likely be no different. Keep searching for solid breaks to the upside with stock indices.

 
EURUSD 14-11-2013

For forex pairs like the EUR/USD, the trend looks to be higher as well. Looking at the hourly charts, it’s clear to see that the last 4 sessions have been purely minded to the upside. Look for further breaks of the resistances above current levels while maintaining a vigilant eye on Fibonacci supports.

1.3450 is the current support level and any break below will allow binary traders to take down options with relatively low risk. But more conservative traders will obviously wait for a break to the upside above the resistance at 1.3495.

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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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