Binary Options Asset Insight - September 23, 2016
During the day on Friday, we get the Core Retail Sales number coming out of Canada, as well as the Manufacturing PMI numbers coming out of the European Union. With this being the case, we look at the following 3 assets:
DAX
The DAX rose rather rapidly during the course of the session on Thursday, so having said that it looks as if we are testing the resistance at the €10,800 level. A break above there would encourage call buyers, but at this point in time it’s very likely that pullbacks will offer call buying opportunities as well as it seems that the bullish traders are in full force.
Gold
Gold markets initially fell during the day on Thursday, but turned around to form a bit of a hammer. This hammer sits on top of an impulsive candle from the Wednesday session after the Federal Reserve refused to raise rates. With this being the case, it’s likely that call buyers will be attracted to this market.
USD/CAD
The USD/CAD pair fell significantly during the course of the session on Wednesday, just as we did on Tuesday. However, there’s probably a significant amount of support somewhere near the 1.29 level, based upon the uptrend line that looks to be forming. With this being the case is likely that the put buyers will continue to be encouraged, if the Canadian Retail Sales numbers are strong. On the other hand, if we get a poor Canadian announcement, we could turn right back around.
Disclosure: None.