Binary.com Daily Market Report (29th Jun)
June 29, 2016 7:48 amVideo
Latest News
- EUR/JPY challenging 148.91 downside obstacle May 31, 2023
- GBP/USD: upside reversal still possible May 31, 2023
- CHF/JPY: downside reversal announced May 31, 2023
- GBP/USD. Analysis for May 31. Fate favors the dollar! May 31, 2023
- EUR/USD. Analysis for May 31. Inflation in Germany is declining rapidly May 31, 2023
- AUD/USD: downside continuation activated May 31, 2023
- Technical Analysis – Has Nvidia’s rocket rally peaked? May 31, 2023
- GBP/USD: Simple trading tips for beginner traders on May 31st (American Session) May 31, 2023
- EUR/USD: Simple trading tips for beginner traders on May 31st (American session) May 31, 2023
- USD/CHF reaches 0.9115 upside obstacle May 31, 2023
- Technical Analysis – Can the AUDUSD bearish breakout last? May 31, 2023
- US premarket on May 31: US stock market dips from yearly highs May 31, 2023
- Weekly forecast based on simplified wave analysis for GBP/USD, AUD/USD, USD/CHF, EUR/JPY, Ethereum, and US Dollar Index on May 31, 2023
- EUR/USD. The southern marathon is in full swing, but sales remain risky May 31, 2023
- Technical analysis on Dax for May 31st, 2023. May 31, 2023
- Ichimoku cloud indicator analysis on USDJPY for May 31st, 2023. May 31, 2023
- Bitcoin rejected at channel resistance May 31, 2023
- GBP/USD: trading plan for the US session on May 31 (analysis of morning trades). The pound lost all its advantage May 31, 2023
- Ichimoku cloud indicator analysis on Gold for May 31st, 2023. May 31, 2023
- Ichimoku cloud indicator analysis on EURUSD for May 31st, 2023. May 31, 2023
Markets Retreat Into Their Shell
Morning Report: 07.00 London
• After a positive response yesterday, markets have retreated back into their shell, with ‘risk-off’ currencies in favour. The British pound is on the back foot, but so far holding the gains made yesterday. This comes after David Cameron’s speech in Europe last night which pointed to further uncertainty in forthcoming negotiations.
• Elsewhere, the yen is soaking up currency inflows. The GBP/JPY is selling off heavily, but the EUR/JPY and USD/JPY are not far behind.
• The US dollar index is back on the rise as investors look for safer homes for their cash.
• Elsewhere, gold is nudging back higher.
Coming up today:
• Coming up today we have Spanish Flash CPI at 08.00.
• Following this we have UK net lending to individuals at 09.30.
• From 13.30, we switch to North America for US core PCE price index and personal spending, followed by pending home sales at 15.00 and crude oil inventories at 15.30.
• Then at 15.30, we have crude oil inventories.
• We also have the day two of the EU economic summit.
Trade Idea:
• The pound has failed to roar in response to Friday’s sell-off and while in the medium term, the pound may well recover, in the short term we are likely to see further volatility in both directions.
A good way to play this is a LOWER trade predicting that the GBP/USD will close below 1.3200 in 14 days for a potential return of 172%.
Disclaimer: This financial market report is intended for educational and information purposes only. It should not be construed as investment or financial advice and you should not rely on any of its content to make or refrain from making any investment decisions. The views expressed in this report are those of the author and do not necessarily reflect the views or position of Binary.com accepts no liability whatsoever for any losses incurred by users in their trading. Binary options trading may incur losses as well as gains.
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