September 30th Binary Options Asset Insights
With the CPI numbers coming out of the European Union and the GDP numbers coming out of Great Britain, it’s likely that most of the action during the day on Friday will be in the earlier hours. Nonetheless, we do have several markets that we are paying attention to, with these 3 and particular:
WTI Crude Oil
If the oil markets break down below the bottom of the hammer that was forming on Thursday, that would be a very negative sign and put buyers could be very encouraged at that point in time. A break above the top of the candle for the session would be short-term bullish, but there is a lot of resistance above. The initial knee-jerk reaction to the potential OPEC deal was very strong, but at the end of the day there are much longer term structural issues that will continue to play this market.
Gold
Gold markets were fairly quiet during the day on Thursday but there is a significant amount of support just below, especially once you get closer to the $1300 level. With this being the case, it’s likely that sooner or later the call buyers will return. In fact, the fairly neutral candle on Thursday suggests that we may be seeing this already.
USD/JPY
The US dollar bounced off of the lows again against the Japanese yen, as we continue to see quite a bit of support at the 100 level. With this being the case, the call buyers look like they are starting to get aggressive yet again. Keep in mind that the central bank of Japan is more than likely defending the 100 level and will wish to see this market go higher.
Disclosure: None.