Binary Dow Jones Industrials almost stalled for the last 3 days. The reason is the important job report due to be released today. The expectations are slightly higher. However, the binary traders were able to realize that the expectations are difficult to be matched. There are always some surprises. It might be a trick to make the binary markets move in the desired direction.
The earning season starts next week. It is a source of increased volatility because the quarterly results will have a deep impact over the mood of the binary traders. They will give a clear answer what is happening with the American economy. As usual Alcoa is the first company to report. So, many trading opportunities will arise next week. The binary market participants should be ready to trade dynamically. They will have plenty of room to place many trades and to be profitable of course.
Currently, the binary options on DJI are closed in a tight range of just 100 points. The news will expand the range most probably. The binary index is trading at 12950 points. It represents 113% of retracement from the previous downside move from 12900 points to 12450 points. It is hard to say what the effect of the news could be. The binary traders should not try to anticipate the subsequent move but rather to wait for the market to show its intentions.
Disclaimer:
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.
