European binary stock options rose on Tuesday, as Eurozone finance ministers agreed to support Spanish banks by lending 30 billion euros till the end of this month. The economic data have also contributed to the positive sentiment, after industrial production in Italy and U.K. unexpectedly gained in May. As a result binary FTSE 100 options advanced with 0.65% to 5664.07, while German DAX index gained 0.79% to 6438.33. At the same time, the French CAC 40 closed the session 0.59% higher at 3175.41.
Today Germanys’ Federal Statistical Office reported that in June 2012, consumer prices were up by 1.7% compare to June 2011. This means that the rise in prices has continued to slow down. In May 2012, the inflation rate as measured by the consumer price index was 1.9%. The results are accepted as positive sign, because Germany is expected to suffer from higher inflation in future due to the huge money printing.
Meanwhile, Asian stocks are falling for fifth day in a row marking the longest losing streak since May. In the season of corporate quarter results market participants are moving away from stocks to safe-haven assets amid concerns that global economic slowdown will hurt profits.
Half an hour before the open bell Nikkei 225 is losing 0.47% to 8816.53, while, the Hang Seng index is dropping 0.32% to 19334.
EUR/USD
Binary EUR/USD ptions are trading in very short range below 1.23. The first support for the day remains at 1.2230, followed by the key 1.2200. A break below the latter will move the target for the next days to weeks on the psychological 1.20. On the upside binary investors should expect first intraday resistance at 1.2335, followed by 1.23.
S&P 500
The market indicator dropped further below 1350. Today, the first support remains at 1335, followed by 1310. On the opposite direction, binary investors should expect first resistance at 1363, followed by the recent high at 1374.
DAX
Binary DAX options hold above 6400, near the 38.2% Fibonacci retracement of the 7216-5918. On the positive side, the first resistance should be expected at 6500, followed by 6650 and 6720 which is 61.8% fibo of the mentioned drop. On the downside first support is seen just below 6400, followed by 6300.
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.
