Binary.com Daily Market Report (23rd Jan)
January 23, 2015 11:30 amVideo
Latest News
- Forecast for EUR/USD on April 23, 2024 April 23, 2024
- Forecast for GBP/USD on April 23, 2024 April 23, 2024
- Forecast for USD/JPY on April 23, 2024 April 23, 2024
- Outlook for GBP/USD on April 23. The pound resumed its decline without delay April 23, 2024
- Outlook for EUR/USD on April 23. Boring Monday went off without a hitch April 23, 2024
- Less reason to expect the dollar to weaken April 23, 2024
- The dollar is armed April 23, 2024
- GBP/USD: Simple trading tips for novice traders on April 22nd (US session) April 22, 2024
- EUR/USD: Simple trading tips for novice traders on April 22nd (US session) April 22, 2024
- GBP/USD: trading plan for the US session on April 22nd (analysis of morning deals). The pound continues to fall April 22, 2024
- EUR/USD: trading plan for the US session on April 22nd (analysis of morning deals). The euro will continue trading within April 22, 2024
- EUR/USD. April 22nd. Christine Lagarde’s speech will set the tone for the week April 22, 2024
- Technical Analysis – EURGBP brings bullish scenario back to the table April 22, 2024
- GBP/USD. April 22nd. The bulls continue to retreat April 22, 2024
- Can Australian CPI data lift the struggling aussie? – Preview April 22, 2024
- Meta reports Q1 earnings after new AI model – Stock markets April 22, 2024
- Weekly forecast based on simplified wave analysis for GBP/USD, AUD/USD, USD/CHF, EUR/JPY, AUD/JPY, and US dollar index on April 22, 2024
- Technical Analysis – GBPUSD tumbles to 5-month low April 22, 2024
- Weekly forecast based on simplified wave analysis for EUR/USD, USD/JPY, GBP/JPY, USD/CAD, NZD/USD, and Gold on April 22nd April 22, 2024
- Video market update for April 22, 2024 April 22, 2024
Draghi Delivers…Now What?
Morning Report: 8.30 London
• It was a huge day for Mario Draghi’s ECB yesterday and the general consensus is that he did not fluff his lines. The highly anticipated QE program came in slightly bigger than expected and so far, there are few holes that analysis have found to pick through. Those holes will no doubt get bigger over time, especially the issue of limited risk sharing, but for now, markets are satisfied.
• Looking at the big picture, the S&P 500 enjoyed the news though is unchanged this morning. Elsewhere, the dollar index pushed to new highs just as the euro sunk back.
• The euro itself dropped further as the larger than expected plan hit the tapes yesterday . The EUR/USD dropped to its lowest levels since 2003, while the EUR/JPY is challenging the 134.00 support level. Worse than expected German Flash manufacturing PMI is adding more weight to the decline.
• Elsewhere, the AUD/JPY is dipping significantly despite Chinese flash manufacturing PMI topping estimates. The USD/JPY are generally weaker, but the Aussie pair is under performing.
Coming up today:
• Coming up today we have UK retail sales at 09.30.
•This is followed by Canadian core CPI and retail sales at 13.30.
Trade Idea:
• So where now for the euro? Draghi has delivered on his part, but now its the politician’s turn. The ECB has done just about all it can with monetary policy in the circumstances, but structural reforms need to be made at the fiscal level. Before we see any evidence of progress here, we could see further euro downside.
A good way to play this is a LOWER trade on the EUR/JPY predicting that the pair will close below 133.50 in 35 days time for a potential return of 122%.
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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