Binary Options Asset Insights - October 4, 2016
During the day on Tuesday, we don’t have much in the way of announcements coming out that would move the market drastically. We get the Construction PMI numbers coming out of the United Kingdom, and the European Union PPI numbers. Because of this, it should be relatively quiet session but we are watching the following 3 assets:
FTSE 100
The FTSE 100 broke above the resistance barrier, and touched the 7000 level during the day on Monday. Because of this, it looks like we are going to continue to try to break out to the upside and call buyers continue to get into the market over and over again. If we can break above the 7000 level, the market should continue to grind much higher. Pullbacks will more than likely continue to attract call buyers based upon value.
USD/CHF
The US dollar rose slightly against the Swiss franc, and very well could continue to do so as it appears the 0.9650 level below is massively supportive. Ultimately, this market should continue to go much higher, perhaps reaching the 0.98 level, and then the 0.9850 level above there. Call buyers seem to be very aggressive when we dip.
USD/JPY
The US dollar rose slightly against the Japanese yen, but at this point in time it’s likely that there is enough resistance to have the market pullback a bit. With this being the case, we still see quite a bit of support at the 100 level below, as it appears that the Bank of Japan is using it as a “line in the sand.” With that being the case, pullbacks could attract call buyers.
Disclosure: None.