Binary options on U.S. stocks fell on Monday following renewed European concerns. Market participants stepped back to safe-haven assets following the negative news from the last couple of days. International Monetary Fund officials expressed worries about Greece ability to continue serving its debt, which brought back concerns about the Eurozone future. Yesterday evening Moody’s changed its outlook for Germany, Netherlands and Luxemburg to “negative” from “stable” on higher chances that Greece could leave the monetary union.
Today major market averages are recovering from the initial loss, trading around the par three hours before the close bell. The German DAX index is trading 3 points higher at 6422.67, after it was falling with 0.64% to 6378.01 in early session. CAC 40 is currently unchanged from yesterday’s close at 3101.15, recovering from 3085.55.
In U.S. the session is expected to start lower, following the European concerns. The economic calendar for today contains House Price index for May and Richmond Fed manufacturing index for July, both scheduled for 14:00 GMT.
Binary EUR/USD managed to break below the tight range between 1.22-1.23. In the last three days the new pair is forming new short range between 1.2065-1.2150. The overall picture remains negative and investors should expect new break towards 1.20. On the upside binary players should expect first intraday resistance at 1.2150, followed by 1.2335 and 1.24.
Despite the sharp drop the U.S. market indicator remains in positive trend. On the upside binary investors should expect key resistance at 1380 with intraday resistance around 1360. On downside direction intraday support is seen at 1338, followed by 1325.
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.