Binary options FTSE100 rise some 1.25% on Monday’s trading session with closing underlying assets prices at 5’640.64 as binary traders were mainly buyer of binary “call” options on the index. The FTSE100 faces important resistance and some pull back could be seen over next sessions.
After breaking its downtrend channel during late May, FTSE100 is currently trading inside a new uptrend channel clearly defined. During yesterday’s trading session binary traders brought FTSE100 prices over the 38.2% Fibonacci retracement at 5’640.64 from November low to March high. Those levels are acting as main resistances and binary traders could start to buy some binary “put” options and some pull back could be seen over next sessions for a test of the MA200 line at 5’580.00 who is acting as main support. A break of those levels could push back prices over the 50% Fibonacci retracement at 5’422.02 area. On the upside view at break of 5’650.00 resistance levels could accelerate the rise up to 5’722.31 region for the time being.
During Monday’s trading session Banks and miners have pushed the FTSE100 higher as shares of Barclays PLC posted a solid rebound after Chairman Marcus Agius stepped down, taking responsibility for last week’s settlement of an investigation into manipulation of benchmark interest rates. The index posted continuing gain from last week, ending Friday on a positive note after European leaders agreed on measures designed to support the euro-zone banking sector.
As chairman Barclays Agius resigned, Barclays announced it would conduct a bank review of past practices. The bank agreed to pay $453 million last week to settle charges after reported prices used to set benchmark interest rates used in trillions of dollars’ worth of transactions around the world. Also Monday, Prime Minister David Cameron launched a parliamentary inquiry into the scandal
The June purchasing managers index for Britain’s manufacturing sector rose more than expected, climbing to 48.6 from 45.9 in May; a reading of less than 50 signals a contraction in activity. Economists had forecast a June reading of 47.4.
The information in the above 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.