Binary Options Assets In Focus - 5/4/2016
During the day on Wednesday, we will get the ADP Nonfarm Employment change numbers, as well as the Crude Oil Inventory numbers out of the United States, and that can cause quite a bit of volatility. With that being the case, we look at the following 3 assets:
Gold struggles
Gold markets fell a bit after initially trying to rise on Tuesday, as the $1300 level continues to offer quite a bit of resistance. However, we have seen such a strong move to this area, it’s difficult to imagine the call buyers won’t be below looking to buy dips on signs of value. Also, a break above the shooting star from the last couple of sessions would be a very strong sign.
FTSE falls
The FTSE fell during the course of the session on Tuesday, raking through the 6200 level. However, we did see a bit of support just below there, and there is quite a bit of noise just below to suggest that we are going to continue to see call buyers also. With this, it’s likely that the market will try to bounce.
USD/CAD rallies
The USD/CAD pair rallied during the day, forming massive amounts of bullish pressure as the 1.25 level has now offered a bit of a floor. With this, it’s likely that the market could offer call buying opportunities, and this will be especially true if oil markets fall after the inventory numbers.
EUR/USD: Sharply decline from 1.1600.
The pair EUR/USD found resistance at the 1.1600 area. At the last session the pair showed weakness to move above the resistance area.
However there is a possibility for the pair to trade higher than the resistance level, where in this case call buyers might enter the market.
AUD/USD: 0.7500 in focus.
The Australian Dollar declines against the US Dollar. The pair fell during the session of Tuesday, challenging the supportive area at 0.7500. It would not be surprising for the pair to continue to this direction.
On the other hand, a reversal move perhaps give opportunities for call buyers.
Silver: Under the rising trend-line.
Silver shows weakness, and in fact is trading below the rising trend-line. With this being the case, put buyers might enter the market.
Whereas, call buyers could be interested for a reverse above the resistance area of 18.00.
Disclosure: None.