Binary Options Market Outlook – August 2 – 6

USDJPY is building up a strong support line at 86.50

Currencies: As we forecasted here last week, the USDJPY was building up a strong support line at 86.50. On Friday this support was broken and lower prices are now prices. Many of our traders have been writing to us thanking us for these forecasts, so due to popular demand we will be posting many new forecasts every day on our “Binary Options Gameplan” daily and “Binary Options Market Outlook” weekly.

Commodities: Gold futures are close to breaking strong resistance of the descending trendline, now at 1,181.70.
One this resistance is broken, higher prices will be possible.

U.S. Stocks: Yahoo! is building a tight descending channel which once broken, will move this stock.

London Stocks: Tesco (London Stock Exchange) broke through an ascending support line and now lower prices are possible.