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17:11:51 GMT
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FOREX PAIRS AND INDICES LOOK HIGHER

OIL-APR17 (BRENT) 56.090 17:10 24.02
GENERAL MOTORS 37.125 17:10 24.02
JP MORGAN CHASE 89.995 17:10 24.02
PFIZER 34.155 17:10 24.02
MASTERCARD 110.400 17:10 24.02
WAL-MART 72.7450 17:10 24.02
McDONALD'S 128.385 17:10 24.02
DOW 20767.61 17:10 24.02
S&P 500 2359.770 17:10 24.02
GOLD/EUR 1187.155 17:10 24.02
COFFEE-MAR17 143.7250 17:10 24.02
SUGAR (11)-MAR17 19.7850 17:10 24.02
SILVER 18.386 17:10 24.02
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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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