Binary DAX30 is pushing higher today. The binary index is buoyed by the easing tension in Greece. The trading instruments based on German assets are oversold and could undergo huge increase should the market conditions improve. The binary traders should be ready to buy binary call options on the underlying index.
The binary DAX30 is traded in a range of 150 points for the last 10 days. It is a tight range for such a fast moving index. We take into consideration the 4h chart. The binary traders will notice that the Bollinger Band indicator is horizontally disposed. It means that the volatility is very low and it is on the verge of expanding dramatically.
The main downside trend line from 6875 points to 6575 points has been broken and tested as a support. It marked the change of the binary traders` mood. There is plenty of room to the upside for the binary options to develop. The binary instruments need space to expand the moves.
Binary options are testing the upper band of the Bollinger Band currently.
(BB) indicator at 6400 points. The 5 and 9 exponential moving averages are close to the price at 6360 points. They could be the driving force for a breakout. The zone between the BB and the moving averages is open for trading. It is possible that the binary index consolidate within its boundaries before exploding to the upside.
The information in this analysis is collected from different sources and should serve for informative purposes only. The author shall not be held responsible for the validity of the presented information. No part of this analysis recommends the purchase or sale of a currency pair or any other financial instrument.