In Europe, the market averages were also trading higher, marking another positive week and reaching fresh four month highs. The German DAX index advanced by 0.64% to 7040.88, the French CAC 40 added 0.23% to 3488.38, U.K.’s FTSE 100 rose with 0.31% to 5852.42 and the Spanish IBEX35 gained 1.94% to 7561.
This morning the Asian markets are under pressure amid concerns that China won’t ease its monetary policy. In the last few weeks market participants are speculating with this trying to predict whether or not this will happen. Shanghai Composite, Hang Seng, KOSPI and S&P/ASX 200 are all trading lower. However, Japanese indices managed to recover after trading below the par in the mid-session. Nikkei 225 closed the trading day 0.40% higher at 9198.25, while the broader TOPIX 500 added 0.12% to 596.80.
Binary EUR/USD options continued to trade in very narrow range. Today, the first support remains at 1.2250, while the intraday resistance is seen around 1.2350. A break above the latter will move the target on 1.24 and the one month top at 1.2445. 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 1.2250 will move the target on 1.2130.
The broad index has reached new fresh four month high at 1418. Today, market participants should expect attack of the 4 year top at 1422. Binary option traders should watch for political statements concerning further stimulus programs, because lately this is the major factor that shakes market averages. On the downside, the first support is expected at 1390, followed by 1380 and 1355, while on the upside main target is 1422.
The German index broke successfully above the psychological level of 7000. Today, binary option investors should watch for reversal back to 7000 or further advance towards 7110. On the on the downside, the strong support is seen at 6900, followed by 6840. On the main target is the top at 7217.
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.