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NIKKEI 225 VS TOSHIBA 93.686 02:30 23.02
MAZDA VS TOSHIBA 7.847 02:30 23.02
NZD/USD 0.71846 02:30 23.02
NZD/JPY 81.379 02:30 23.02
AUD/USD 0.76764 02:30 23.02
AUD/JPY 86.949 02:30 23.02
TENCENT HOLDINGS 214.700 02:30 23.02
SSE180 VS CSI300 2.1859 02:30 23.02
AUD/CAD 1.01035 02:30 23.02
TAIEX 9797.6 02:30 23.02
SSE180 7598.730 02:30 23.02
CSI 300 3476.262 02:30 23.02
SHANGHAI COMPOSITE 3250.382 02:30 23.02
EUR/JPY 119.533 02:30 23.02
EUR/USD 1.05530 02:30 23.02
HANG SENG F-JAN17 24073.000 02:30 23.02
TOPIX 100 992.810 02:30 23.02
NIKKEI 225 19313.290 02:30 23.02
HANG SENG 24089.300 02:30 23.02
ASX F-MAR17 5758.500 02:30 23.02
USD/JPY 113.269 02:30 23.02
USD/SGD 1.41603 02:30 23.02
ASX 5791.100 02:30 23.02
STRAITS TIMES 3118.700 02:30 23.02
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Markets carried on higher again yesterday as indices in the US and the EUR/USD both edged upwards. The S&P finished the trading session up over 0.25% to 1807, maintaining its record breaking pace with daily record finishes. The Dow Jones stock index closed just 0.15% higher to 16097 and looking to break the local Fibonacci extension resistances at 16099 and 16102. The Nasdaq index actually had a very strong day closing the session up 0.67% to 4044 and showing how important strong supports are. The reason this is important to note is that both the S&P and Dow started the day strong but tested support levels about midway through the session. When a break looked impossible, the indices just shot higher.

But due to the strength of the Nasdaq, the tests by the other indices had little effect on the Nasdaq and this goes to show how strong these support levels are. The fact that the tests proved futile, allowed the Nasdaq to carry on higher virtually unfazed. Of course, today, we won’t be able to see if the US markets can continue their run higher as it’s Thanksgiving and US markets are completely closed today and Friday trading will be considered a half day with extremely low liquidity levels.

How will this effect traders today? Firstly, stocks and indices are out in terms of trading. They just won’t be available for trading. However, forex pairs and commodities are still available as are stocks and indices from Europe and Asia.

Looking at European indices, things are also very positive as the major indices extended gains yesterday and pushed higher. The CAC closed 0.36% higher to 4293 and has now put the 4298 and 4305 resistances in focus. A break of these levels will allow binary options traders to take up options with what looks to be very low risk trades. However, we warn that due to very low liquidity today, volatility can get very edgy. What we mean is that volatility can lead to a big move in one or another direction. However, low liquidity can create very jagged moves in the market with no clear direction.

For currency traders, the EUR/USD will probably account for 90% of the trading volume today as most other indices and commodities simply won’t be able to command this type of interest. After all, the EUR/USD is pushing higher again after pushing past resistances again yesterday. The pair is now trading near 1.3585 and is looking to push past the hourly resistance at 1.3590 and then 1.3607. Both levels are of interest to binary options traders as they mark clear entrance points. Due to high volatility levels that could penetrate the forex markets, we recommend erring to the side of caution and avoiding large high risk trades today. Stick to trades that are small in size and based on breaks in the coming trading day and you should steer clear of trouble.

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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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