May 20: Bank of England Monetary Policy Committee and Fed Reserve minutes release

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May 20: Bank of England Monetary Policy Committee and Fed Reserve minutes release

With the Bank of England Monetary Policy Committee releasing minutes today, as well as the Federal Reserve Open Market Committee doing the same, expect a lot of volatility. With that being said, we would anticipate seeing quite a bit of action in the US stock markets, as well as the US dollar. The FTSE could also be volatile as well.

FTSE
Struggled a bit above the 7000 level during the session on Tuesday. However, we feel that going forward the FTSE can be bought via calls, as it should find support below, and most certainly at the 6900 level. We have no interest in buying puts in the FTSE as it should continue to see quite a bit of bullish pressure over the longer term.

Silver
Looking at the silver market, we fell rather hard during the session, and with the US dollar possibly moving, this could be a market that turns around quite rapidly. Because of this, we will have to wait to see what the region in the $17 area brings, but so far it looks as if the buyers are starting to step been so we might be tempted start buying calls in this area and aiming for the $17.50 level.

GBP/USD
The GBP/USD pair fell to the 1.55 level during the session on Tuesday, an area that should be rather supportive. Because of this, we think that buying will start in this general vicinity, and as a result we have become positive of the British pound again. We will have to see what kind of reaction the MPC announcement brings, but at the end of the day we think there’s quite a bit of support in this general vicinity and therefore the buyers should come back in and assert their control again.

 

Disclaimer

The material provided on this market review and the linked websites is not intended to be your only source of information when you are making financial decisions. OptionsClick™ is not a financial advisor. The information provided should be treated as a guide only and it is not a substitute for independent professional advice. You should seek independent professional advice relevant to your particular circumstances.

OptionsClick™ have made every effort to ensure that the material published here is accurate.

OptionsClick™ takes no responsibility or accept no liability arising from:

  • Errors or omissions.
  • The way in which any material is interpreted.
  • Reliance upon any material.
  • The contents or reliability of any linked websites.

 

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May 19: Reserve Bank of Australia releasing its Meeting Minutes

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May 19: Reserve Bank of Australia releasing its Meeting Minutes

With the Reserve Bank of Australia releasing its Meeting Minutes during the day today, this is a market that will more than likely be relatively quiet unless the RBA suggests that there are a lot of concerns in the global economy. Ultimately, the market will be relatively technical session, and therefore we are looking for setups on the charts in order to place our trades.

S&P 500

The S&P 500 fell during the course of the session on Monday, but then turned back around to form a rather bullish candle by the end of the day. With that, we have made a fresh, new high, and as a result we feel that the S&P 500 is one that continues to offer call buying opportunities, and therefore we have no interest whatsoever in buying puts. We believe that the S&P 500 goes towards the 2200 level.

GBP/USD

The GBP/USD pair continues to fall during the Monday session, but during Tuesday we will be looking for some type of supportive candle in order to start buying calls. There are plenty of opportunities below for support come into play, but the 1.56 level is one of our favorite. Any type of supportive candle between here and there is a call buying opportunity as far as we can see. We believe ultimately that the British pound continues to strengthen over the long-term.

Silver

The silver markets broke out above the top of the hammer from the Friday session, as we continue to head towards the 18.50 level. However, we wait until we get short-term pullbacks in order to start buying calls as the silver markets are most certainly very bullish, meaning that the buyers are starting to take over.

Disclaimer

The material provided on this market review and the linked websites is not intended to be your only source of information when you are making financial decisions. OptionsClick™ is not a financial advisor. The information provided should be treated as a guide only and it is not a substitute for independent professional advice. You should seek independent professional advice relevant to your particular circumstances.

OptionsClick™ have made every effort to ensure that the material published here is accurate.

OptionsClick™ takes no responsibility or accept no liability arising from:

  • Errors or omissions.
  • The way in which any material is interpreted.
  • Reliance upon any material.
  • The contents or reliability of any linked websites.

 

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May 18: The Real Retail Sales number out of Switzerland

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May 18: The Real Retail Sales number out of Switzerland

Silver

 Silver markets initially fell during the session on Friday, but found enough support to turn things back around and form a hammer. The hammer sits right at the 17.50 level, and if we can break above the 17.50 level with significant, we believe that the market will then head to the 18.50 level, offering a call buying opportunity. With that, we are bullish of silver and also look at pullbacks as potential call buying opportunities on signs of support.

 S&P 500

The S&P 500 looks as if it’s ready to break out above the resistance in the 2120 region, so therefore we feel that it’s only a matter of time before we go much higher. We are buyers of calls on pullbacks, just as we are buyers of calls and breakouts to the upside. We believe that eventually the S&P 500 heads towards the 2200 level, and then perhaps even higher than that given enough time. We have no interest in buying puts.

EUR/USD

Looking at the EUR/USD pair, we did pullback a little bit during the session on Friday, but quite frankly we feel that there is enough support underneath that eventually the buyers will step back into the marketplace, and push prices higher. There is a massive amount resistance between the 1.14 level and the 1.15 handle, so a pullback in order to build up momentum is perfectly normal. Once we get above the 1.15 level, that will buy all metrics that we can see make this a complete trend change and suddenly the Euro is favored.

 

Disclaimer

The material provided on this market review and the linked websites is not intended to be your only source of information when you are making financial decisions. OptionsClick™ is not a financial advisor. The information provided should be treated as a guide only and it is not a substitute for independent professional advice. You should seek independent professional advice relevant to your particular circumstances.

OptionsClick™ have made every effort to ensure that the material published here is accurate.

OptionsClick™ takes no responsibility or accept no liability arising from:

  • Errors or omissions.
  • The way in which any material is interpreted.
  • Reliance upon any material.
  • The contents or reliability of any linked websites.

 

GD Star Rating
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