• This morning, financial markets are relatively steady with various cross currents making it hard for traders to catch a strong trend. The euro is holding relatively steady despite the downgrade of Greek debt over the weekend – The move was largely telegraphed and as such factored in to current prices. The EUR/USD is rallying after heavy selling on Friday, while the EUR/GBP is seeing similar movement.
• The S&P 500 has opened in negative territory however the 100 period average is still holding. It’s a similar story on the dollar index where the 14 period moving average still hold.
• The NZD/USD is one of the standout performers, out performing the Australian dollar after Tony Abbot survived a no confidence vote.
• The USD/JPY is slipping lower after storming gains on Friday.
• Finally, Gold is steady after heavy selling last week.
Coming up today: • We have a light day on the economic data front, with FOMC member Powell speaking at 21.00 the only highlight. Trade Idea:
• Gold has been selling off heavily, but is not quite yet in extreme over sold territory. As such, there could be further downside from here as the trend strengthens.
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.
Euro Steady Despite Greek Downgrade
Morning Report: 8.30 London
• This morning, financial markets are relatively steady with various cross currents making it hard for traders to catch a strong trend. The euro is holding relatively steady despite the downgrade of Greek debt over the weekend – The move was largely telegraphed and as such factored in to current prices. The EUR/USD is rallying after heavy selling on Friday, while the EUR/GBP is seeing similar movement.
• The S&P 500 has opened in negative territory however the 100 period average is still holding. It’s a similar story on the dollar index where the 14 period moving average still hold.
• The NZD/USD is one of the standout performers, out performing the Australian dollar after Tony Abbot survived a no confidence vote.
• The USD/JPY is slipping lower after storming gains on Friday.
• Finally, Gold is steady after heavy selling last week.
Coming up today:
• We have a light day on the economic data front, with FOMC member Powell speaking at 21.00 the only highlight.
Trade Idea:
• Gold has been selling off heavily, but is not quite yet in extreme over sold territory. As such, there could be further downside from here as the trend strengthens.
A good way to play this is as LOWER trade predicting that Gold will close below $1225 in 7 days time 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.
Summary:
Email [email protected] or skype me at bomaffiliates-karen
Related Posts: