 |
Weekly market update provided by Analysts at 10Trade |  |
Market Update on Popular Binary Options Assets;
EUR/USD
This week, the pair began down as the euro was impacted by the recent atrocities in Paris which hampered sentiment and increased demand for safe-haven assets early on Monday. Later on Monday, Mario Draghi, is due to present in Madrid. Support is likely at 1.0670 and resistance around 1.0830.
GBP/USD
Late last week, the GBP/USD ranged in a relatively narrow channel, this despite the U.S. data release which was ultimately below expectations. The pair ended the week above 1.5200, but as the new trading week began, the rate reversed back down on concerns over the terrorist events in Europe.
On Monday, traders should monitor the U.S. Empire State Manufacturing Index which will be released at 1.30PM (GMT). Likewise CPI data released on Tuesday, and the publication of the FOMC minutes on Wednesday could be of note.
Gold & Oil
Gold ended last week close to $1,080/ounce, and the price reopened close to $1,090/ounce. Demand for safe-haven assets rose following the Paris events, which also led to a French led airstrike in Syria. The price headed towards $1,100/ounce but ran out of steam as the market calmed. With the financial market beginning to settle, it the yellow metal may test resistance levels again.
Oil continues to drift with OPEC and US Shale producers locked in a battle to see who blinks first. Both camps feel they can outlast each other with the prices remaining low for the foreseeable.
When markets are particularly volatile – or conversely, when an asset is trading in a ‘flat’ channel – ‘Touch’ and ‘ladder’ options become useful for traders. Advanced traders should consider “nesting” multiple positions in order to manage risk. This involves creating a number of trades that maximise profits when assets trade within a certain, often narrow, channel. The payoff then reduces, but still results in a profits, when the asset moves outside of that channel.
|
Trade Ladder and Touch options over a huge range of assets |