Binary stock options rose on Friday, amid better-than-expected economic data. European shares gained for a ninth week in a row, following higher Eurozone PMI and retail sales results. The German DAX index closed the Friday session by 3.93% higher, reaching four-month top at 6865.66. At the same time, the French CAC 40 advanced by 4.38% to 3374.19.
The U.S. binary stocks rose for a fourth week, giving the Dow Jones Industrial Average the longest rally since October, as better-than-forecast jobs data erased a four-day drop. Nonfarm payrolls came in at 163K, versus the expected 100K consensus. While, nonfarm private payrolls added 172K against expectations of a 105K increase. The unemployment rate of 8.3% ticked up from its previous reading of 8.2%. Dow Jones advanced by 1.69% on Friday, closing the session at 1310129. At the same time, S&P500 gained 1.90% to 1390.99, while, NASDAQ Composite advanced by 2% to 2967.90.
This morning Asian stocks are trading higher following the positive sentiment caused by U.S. jobs report. Nikkei 225 and Hang Seng are both trading around 1.9% higher, to 8722.32 and 20031.31 respectively.
EUR/USD
Binary EUR/USD rose sharply on Friday moving above 1.24. However, the overall picture remains negative and investors should expect strong resistance around the psychological 1.25. On the downside, a break below 1.23 will move the target on the recent low at1.2041. On the upside, binary players should expect first intraday resistance at 1.24, followed by 1.2442 1.25.
S&P 500
The U.S. market indicator remains in positive trend, reaching a fresh high at 1391.50. Today, if the index opens higher it will have the potential to move the price towards the psychological 1400. On the opposite direction, a downside movement is expected to meet intraday support at 1383, followed by 1350 and 1320.
DAX
Binary options on DAX remained higher at four-month top. Investors should expect first resistance for today at 6900, followed by the key 7000. On the opposite direction, a correction to at least 6700 should not be excluded considering oscillators overbought levels. On the downside, lower supports are expected at 6650, followed by 6600.
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.
