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binaryoption.com Forex Analysis
- Thread starter jackobfx
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Economic Events 22/08/2012
12:30 CAD Retail Sales June (MoM)
Forecast: 0.1% Previous: 0.3%
Change in the total value of sales at the retail level. It’s the primary gauge of consumer spending, which accounts for the majority of overall economic activity.
14:00 USD Existing Home Sales July
Forecast: 4.52M Previous: 4.37M
Annualized number of residential buildings that were sold during the previous month, excluding new construction. It’s a leading indicator of economic health because the sale of a home triggers a wide-reaching ripple effect. For example, renovations are done by the new owners, a mortgage is sold by the financing bank, and brokers are paid to execute the transaction.
18:00 USD Fed Releases Minutes from August 1 FOMC Meeting
It’s a detailed record of the FOMC’s most recent meeting, providing in-depth insights into the economic and financial conditions that influenced their vote on where to set interest rates. More hawkish than expected is positive for currency.
Source: binaryoption
12:30 CAD Retail Sales June (MoM)
Forecast: 0.1% Previous: 0.3%
Change in the total value of sales at the retail level. It’s the primary gauge of consumer spending, which accounts for the majority of overall economic activity.
14:00 USD Existing Home Sales July
Forecast: 4.52M Previous: 4.37M
Annualized number of residential buildings that were sold during the previous month, excluding new construction. It’s a leading indicator of economic health because the sale of a home triggers a wide-reaching ripple effect. For example, renovations are done by the new owners, a mortgage is sold by the financing bank, and brokers are paid to execute the transaction.
18:00 USD Fed Releases Minutes from August 1 FOMC Meeting
It’s a detailed record of the FOMC’s most recent meeting, providing in-depth insights into the economic and financial conditions that influenced their vote on where to set interest rates. More hawkish than expected is positive for currency.
Source: binaryoption
Daily Market Review 03/09/2012
Today top event is the speech of the president of European Central Bank Mario Draghi at 13:30 GMT. Before the speech binary traders should be careful about data of Manufacturing PMI in Great Britain. Earlier this morning markets are quiet after Friday’s speech of Federal Reserve Ben Bernanke in Jackson Hole. Binary EUR/USD reversed from topped high 1.2636 in Friday and earlier this morning is trading at choppy range around 1.2567. Cable also makes a corrective movement after strong bullish impulse at the end of the previous week. British currency could continue to move higher today. Binary USD/CHF made new fresh bottom in Friday and the outlook for this week is for continuing the bearish trend. Japanese yen break below support level at 78.30 and made the lowest price since three weeks. Canadian dollar increased around 60 pips against the US dollar in the last session of the previous week. The currency pair is near to the sentiment support zone around 0.9840. The Aussie dropped down with new fresh bottom in Asian session today and the bearish trend should continue. Europeans indexes opened without direction but the trend is bullish after Friday’s rallies. German DAX is below 7000 points and French CAC 40 is trading around 3396. Only British FTSE continues to fall but opened stronger this morning. American markets close in green after speech of Bernanke. Dow Jones Industrial closed at 13090.84. NASDAQ Composite Index is up by 0.60% with increased profit of 18.25 points. Broad American index S&P 500 closed up by 7.10%. Binary Gold and Binary Silver are in strong bullish trends after Bernanke’s speech in Friday. Investors are seeking for assurance and they move their capitals in the most save asset Gold. Precious metal would continue to move higher with first target at sentiment zone at $1700 for an ounce.
EUR/USD
Intraday bias is bullish after Friday’s impulse in the currency pair. First support for today is around 1.2560 followed by 1.2490. Euro should break and close the day above topped high 1.2636 from previous week to continue the upside momentum. In case of break next target could be at the 1.2700 sentiment zone. On downside only break and daily close below 1.2440 would change outlook to negative and we could see deeper decline.
S&P 500
S&P 500 index is trading again in choppy range around 1400 points. Down border of the range is around 1395 and up is around 1412. In long term trend continues to be bullish with crucial level at 1350. First support on down side is projected around 1395 followed by 1385. On other direction first intraday resistance is around Wednesday’s high 1412. Price of the index should break above 1417 first and 1424 after that to unlock potentials for buy “call” options and start new positive rally.
DAX
German DAX index opened higher in earlier European session. After Friday’s up movement the sentiment is strong bullish with expectations of new sooner rise. Intraday support is at 6890 followed by 6800. On upside first intraday resistance is around 7005 followed by 7050. Break of the last would unlock up side potentials.
Source: binaryoption
Today top event is the speech of the president of European Central Bank Mario Draghi at 13:30 GMT. Before the speech binary traders should be careful about data of Manufacturing PMI in Great Britain. Earlier this morning markets are quiet after Friday’s speech of Federal Reserve Ben Bernanke in Jackson Hole. Binary EUR/USD reversed from topped high 1.2636 in Friday and earlier this morning is trading at choppy range around 1.2567. Cable also makes a corrective movement after strong bullish impulse at the end of the previous week. British currency could continue to move higher today. Binary USD/CHF made new fresh bottom in Friday and the outlook for this week is for continuing the bearish trend. Japanese yen break below support level at 78.30 and made the lowest price since three weeks. Canadian dollar increased around 60 pips against the US dollar in the last session of the previous week. The currency pair is near to the sentiment support zone around 0.9840. The Aussie dropped down with new fresh bottom in Asian session today and the bearish trend should continue. Europeans indexes opened without direction but the trend is bullish after Friday’s rallies. German DAX is below 7000 points and French CAC 40 is trading around 3396. Only British FTSE continues to fall but opened stronger this morning. American markets close in green after speech of Bernanke. Dow Jones Industrial closed at 13090.84. NASDAQ Composite Index is up by 0.60% with increased profit of 18.25 points. Broad American index S&P 500 closed up by 7.10%. Binary Gold and Binary Silver are in strong bullish trends after Bernanke’s speech in Friday. Investors are seeking for assurance and they move their capitals in the most save asset Gold. Precious metal would continue to move higher with first target at sentiment zone at $1700 for an ounce.
EUR/USD
Intraday bias is bullish after Friday’s impulse in the currency pair. First support for today is around 1.2560 followed by 1.2490. Euro should break and close the day above topped high 1.2636 from previous week to continue the upside momentum. In case of break next target could be at the 1.2700 sentiment zone. On downside only break and daily close below 1.2440 would change outlook to negative and we could see deeper decline.
S&P 500
S&P 500 index is trading again in choppy range around 1400 points. Down border of the range is around 1395 and up is around 1412. In long term trend continues to be bullish with crucial level at 1350. First support on down side is projected around 1395 followed by 1385. On other direction first intraday resistance is around Wednesday’s high 1412. Price of the index should break above 1417 first and 1424 after that to unlock potentials for buy “call” options and start new positive rally.
DAX
German DAX index opened higher in earlier European session. After Friday’s up movement the sentiment is strong bullish with expectations of new sooner rise. Intraday support is at 6890 followed by 6800. On upside first intraday resistance is around 7005 followed by 7050. Break of the last would unlock up side potentials.
Source: binaryoption
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