Binary.com Daily Market Report (22nd Jan)
January 22, 2015 10:03 amVideo
Latest News
- Forecast for EUR/USD on April 19, 2024 April 19, 2024
- Forecast for GBP/USD on April 19, 2024 April 19, 2024
- Forecast for USD/JPY on April 19, 2024 April 19, 2024
- Technical Analysis of Intraday Price Movement of Litecoin Cryptocurrency, Friday April 19 2024. April 19, 2024
- Technical Analysis of Intraday Price Movement of Polkadot Cryptocurrency, Friday April 19 2024. April 19, 2024
- Michelle Bowman reiterated Jerome Powell’s opinion April 19, 2024
- The ECB has finally made up its mind April 19, 2024
- The dollar is in control April 19, 2024
- 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
Draghi’s Day of Reckoning
Morning Report: 8.30 London
• Markets are relatively quiet today as we reach Mario Draghi’s day of reckoning. He is expected to announce the size and details of the ECB’s bond buying program around 1.30 PM today and little will matter until the plan is released. Markets are expecting the ECB to announce a program in the magnitude of €500bn to €700bn over 18 months, but the amounts may matter less than the perception of the program being open ended. Draghi has a difficult hand to play, keeping the Eurozone and German lawmakers happy at the same time. Will it be a grand plan to save the continent, or a disappointing compromise? Expect a reaction siding with the former, leading to the latter as the details are analysed.
• So far today, the S&P 500 is taking a glass half full view rising for the third day in a row. The dollar index is holding at the highs.
• Gold is the biggest mover, down 0.63%, reversing recent gains.
• Meanwhile the USD/CAD has continue to rise, up 0.26% today after smashing gains yesterday.
• The NZD/USD is also stable after big losses yesterday.
Coming up today:
• The ECB is the only real ticket that matters, but we have some warm up events along the way.
• At 09.00 and 09.25 we have speeches from MPC members Miles and Fisher respectively. Public sector net borrowing figures are released at 09.30, followed by CBI industrial order expectations at 11.00.
• We have the ECB minimum bid rate at 12.45, but no change is expected here. The big ticket is the ECB press conference at 13.30 .
• US unemployment claims are released at the same time.
Trade Idea:
• The euro movements are likely to be something of a lottery today, but it’s worth noting gold’s weakness. It put on a short spurt on the back of the SNB move, but is reversing today. This reversal could have further to run, especially if/when liquidity seeps in on the back of the ECB.
A good way to play this is a LOWER trade predicting that gold will close below $1250 in 7 days time for a potential return of 312%.
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.
Summary:
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