Binary.com Daily Market Report (23th Feb)
February 23, 2016 8:21 amVideo
Latest News
- Analysis of the GBP/USD pair on April 18, 2024 April 18, 2024
- Analysis for EUR/USD pair on April 18th. Dull ending to a dull week April 18, 2024
- USD/JPY: Simple trading tips for novice traders on April 18th (US session) April 18, 2024
- GBP/USD: Simple trading tips for novice traders on April 18th (US session) April 18, 2024
- EUR/USD: Simple trading tips for novice traders on April 18th (US session) April 18, 2024
- GBP/USD: trading plan for the US session on April 18th (analysis of morning deals) April 18, 2024
- Trading Signals for EUR/USD for April 18-20, 2024: buy above 1.0641 (21 SMA – 2/8 Murray) April 18, 2024
- Bitcoin slides ahead of halving event – Crypto News April 18, 2024
- Trading Signals for BITCOIN (BTC/USD) for April 18-20, 2024: buy above $62,500 or $63,037 (4/8 Murray – rebound) April 18, 2024
- GBP/USD. April 18th. Andrew Bailey did not clarify the situation on QE April 18, 2024
- Trading Signals for GOLD (XAU/USD) for April 18-20, 2024: buy above $2,375 (6/8 Murray – 21 SMA) April 18, 2024
- Technical Analysis – Netflix stock moves within narrow range ahead of earnings April 18, 2024
- Technical Analysis – GBPUSD tries to recoup some losses April 18, 2024
- USD/JPY in crisis April 18, 2024
- EUR/USD: trading plan for US session on April 18. EUR gets stuck at 1.0686 April 18, 2024
- Fed to keep policy tight for longer than markets view April 18, 2024
- Technical Analysis – BTCUSD drops to 6-week low as halving looms April 18, 2024
- Midweek Technical Look – EURUSD, US 500, WTI April 18, 2024
- Technical Analysis – AUDJPY pulls back but stays in uptrend April 18, 2024
- Forex forecast 04/18/2024: EUR/USD, USD/JPY, Oil and Bitcoin from Sebastian Seliga April 18, 2024
Pound Fragile After
Hefty Losses
Morning Report: 06.30 London
• Yesterday’s headlines ran with the impact of senior Conservatives coming out in favour of leaving the European Union. The Pound might have sunk to seven year lows, but it did not dramatically under perform the euro, with the EUR/GBP only rising slightly. Either the prospect of a ‘Brexit’ could be negative for the Euro as well or there were other factors at play behind yesterday’s drop in the GBP/USD and EUR/USD. This morning, the Pound has continued yesterday’s weakness, while the Euro is relatively stable.
• Yesterday’s GBP/USD losses need to be put into context with the EUR/USD losses, though the latter is rising this morning.
• The Dollar index continues to trade with caution, with small gains and losses this week. The USD/JPY has more of a negative bias this morning.
• The Australasian pairs are on the back foot after out-performing yesterday.
Coming up today:
• Today we have German Ifo business climate at 09.00.
• This is followed by the UK inflation report hearings at 10.00.
• Then from 15.00 we switch to North America for US CB consumer confidence and existing home sales.
• MPC member Haldane speaks at 17.00.
Trade Idea:
• The EU referendum in the UK appears to be doing no-one any favours on the currency front.
• The EUR/JPY was hard hit yesterday and if anything, its losses are more consistent than the GBP/JPY.
A good way to play this is a LOWER trade predicting that the EUR/JPY will close below 123.00 in 14 days for a potential return of 182%.
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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