Binary NASDAQ100 continues trading lower. The quarterly results from the technology companies are far from impressing the binary traders. They prefer not to take excessive risks but to dump the binary index until some good news appears on the screen. The binary put option volume spiked dramatically this week. It is possible that some corrective wave be under way before further downside pressure pushes the prices lower.
Binary options on NASDAQ100 are presently higher, as a corrective reaction to the current losses. However, the downside pressure is about to resume. China growth cools to 7.5% revised from 8.1%. Moody`s downgrade the Italy`s bond rating to Baa2 from A3. It means that the outlook for the country is negative and it will experience a further sharp increase in its funding costs because of the economic conditions deteriorated.
Binary asset finds resistance at 2555 points. It represents the important EMA9. The binary traders should pay closer attention to EMA5 and EMA9 in order to take more informed decisions. Potential target is 2525 points being 88.6% of retracement from the wave set at 2510 points to 2660 points.
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.