Binary Options Market Outlook – August 9 – 13

Disappointing U.S. jobless figures will put pressure on the Fed to decide on further ‘quantitative easing’ for the economy in the coming week.

Lets look at how this will affect the majors:

Currencies:

The EUR/USD currency pair crossed a major resistance area at $1.32 on Friday and higher prices are now possible this week. Look for trading opportunities as the EUR/USD makes new highs.

Stocks:

The S&P500 broke back below 1,118 on Friday and this week we can expect the S&P500 to consolidate above 1,100. Look for trading opportunities within this range. Be aware that a break below 1,100 would possibly lead to much lower prices.

The FTSE (London) is in a tight consolidation range between 5,300 and 5,400. Look for trading opportunities within this range. Be aware that a break below 5,300 would possibly lead to lower prices and above 5,400 would lead to higher prices.

Commodities:

Oil broke below support of $81.50 and is holding above $80.00 support. This week expect consolidation in this range.