European shares rose for third day in a row amid better-than-expected corporate results and mixed economic data. German June factory order fell more than twice compare to economist expectations, while British industrial and manufacturing productions declined less than forecasts. In addition to the positive mood, Greece agreed to strengthen its efforts to meet the bailout conditions during talks with its creditors. As a result binary DAX index options continued to advance adding 49.23 points or 0.71% to 6967.95. In U.K. FTSE 100 gained 0.56% to 5841.24, while the French CAC 40 closed the session 1.52% higher at 3453.28.
U.S. binary options remained on the positive wave as well, keeping the low volume and no key economic data. On corporate level, Fossil surged more than 30% to 91.77 dollars per share after the company increased full-year guidance following higher-than-expected earnings and revenue. After the close bell Walt Disney reported that its profit rises with 24% or $1.02 per share beating the estimates for 93 cents for share. Binary index options continued to advance with S&P 500 gaining 0.51% to 1401.35. NASDAQ Composite rose with 0.87% to 3015.86, while Dow Jones Industrial Average added 0.39% to 13173.71.
Today, binary option traders should watch the economic calendar for German industrial production, Bank of England inflation report and U.S.MBA mortgage applications. Commodity investors have to look for U.S. weekly crude oil inventories which are expected to decline with 600k barrels.
EUR/USD
Binary EUR/USD options extend the consolidation around 1.24. The short term picture is neutral and only a break out from the short range between 1.2350-1.2450 will set a direction for the next couple of days. On the upside, above 1.2450 binary investors should expect resistance far away around the psychological 1.27, which is a good opportunities for call/touch up options. On the opposite direction, a break below 1.2350 will move the target on 1.2130, but 1.2250 could also cause some support.
S&P 500
The U.S. market indicator remains in positive trend closing the session above the psychological 1400. This move puts the target on 1422, which is the highest level since May 2008. On the downside, the first support is expected at 1390, followed by 1380 and 1355.
DAX
Binary options on DAX continue to climb higher remaining on levels above 6900. Today, binary investors should expect strong resistance at the key 7000. However, a break above it will move the focus on 7105. On the opposite direction, the intraday support is seen at 6900, followed by 6840. Further supports are expected at 6800, followed by 6550.
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.
