Today’s in Asian session all majors’ currency pairs are trading in choppy range around levels from Yesterday. Binary options on EUR/USD are moving slowly higher after yesterday’s meeting between German Chancellor Angela Merkel and French President Francois Hollande. Both politicians made clear that it is first and foremost up to Greece to satisfy its creditors. Their fears are coming from the demand of the Greek Prime Minister Antonius Samaras for more time to fix his country’s weakened economy and public finances. Other European currency pair doesn’t make such a big movements and U.K. Pound close the day at 1.5857 against the dollar. Swiss Franc is continuing its bullish trend and earlier this morning is traded around 0.9565 against the US dollar. On other hand, all European indexes switched their trend from positive to negative. German DAX break below psychological 7000 and closed the day at 6946. French CAC 40 on Binary option made head and shoulder formation and now is around 3422 level. British FTSE 100 is in corrective pattern and yesterday closed at 5763. Spanish IBEX 35 is down by 0.79%, 57.80 and binary options traders can make deals around 7282.American indexes are continuing to fall and Dow Jones Industrial Average is down by -0.88% with change of -115.30. DJA closed at 13057.46. S&P 500 Index drop at the lowest level this week and now is at 1402 points. Technological Nasdaq on Binary options is down by -0.66% at 3053.40. Asian stocks fell on signs of slower growth in the U.S. and China and amid concern Europe’s leaders aren’t making progress in solving the region’s debt crisis. Japan’s Nikkei 225 lost 1.1 percent today and closed at 9078.49 points. Binary options on Topix 500 are down by 0.99% at 589.22. In the commodities markets the most important event is that the crude-oil is below $96 a barrel. Binary Gold is at the same levels like yesterday’s morning around $1663. Binary silver with a reversal from topped high around 30.3075
Euro/USD increased by 65 pips yesterday with new fresh high at 1.2588. In the Asian session earlier this morning Binary Euro reversed from topped high and now is trading around 1.2542. For now this looks like a corrective leg of a bullish trend but it is possible to see deeper decline today because most of investors could cache profit from the week. The first intraday support should be project at 1.2527 followed by 1.2487. Sentiments could be change only if we see break of 1.2440 support level which is crucial for whole trend from 1.2040. Binary options traders could look for buy “call” or “touch up” options with target around yesterday’s high at 1.2588. A break there could lead the price around 1.2640 level first and 1.2700 sentiment zone after that.
The broad American index is continuing to fall with break of 1400 support level in later American session yesterday. This morning S&P on Binary options is trading around 1399 and we could see lower levels today. Target of this decline could be set around 1390 like a first support level. Next support is around 1375 – 1360 levels. In long term the trend is strongly bullish with crucial level at 1350. Break there could change sentiments in binary options traders and they could start buy “put” options.
German’s index made a clear break and daily close below 7000 sentiment zone. This could be taken as a signal of a reversal of the trend. On one hour chart there is a head and shoulders formation which is a strong signal for changing the sentiment from positive to negative. Intraday resistance is projected at the yesterday’s support level around 7005. In long term binary traders could keep their expectation for continuing the bullish trend. Only break and daily close below 6800 level could change scenario to bearish.
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.