The European single currency was trading in a weak fashion during much of yesterday’s trading session. However, the euro has started to gain a lot of ground versus its peers today. The EUR/USD forex binary option has advanced 0.33% at $1.2801. Traders have decided to buy into this pair, as there is expected to be further gains in the days ahead. As the likelihood of an announcement where stimulus will be on the cards by the Fed, Call options are the way to go.
The GBP/USD pair is trading higher this Tuesday by 0.15% at $1.6012. There is much more bullishness in the British currency today in spite of the weak economy. Traders have taken it upon themselves to open risky trades, as there is much optimism prior to tomorrow’s policy meeting of the U.S. Federal Reserve. Traders have already decided to open Call options en masse today, so expect the GBP/USD pair to make additional gains in the hours ahead. With this in mind, make sure to get in on all of the action.
The USD/JPY forex binary option has been trading much lower in recent hours. The USD/JPY has slipped 0.26% to 78.08 yen. The yen is still stronger than the dollar, as the U.S. is expected to print a lot more money in the near future. The result of this would be a much weaker dollar. There is much important economic data from both the U.S. and Japan during trading today. It looks like the USD/JPY will continue to lose ground, as there are so many factors playing against the dollar at the moment. Investors are looking to open their Put options with the anticipation of heavy declines in the coming hours.
The crude oil binary option did rise by 12 cents yesterday. However, it has been trading much lower for much of today’s trading session. Now the price of oil is virtually unchanged at $96.55. It seems that the weak dollar has helped crude oil make a bullish upsurge. The longer the dollar is weaker, the higher the chance is that oil prices will continue to rise in the hours ahead. Traders have already started to open their daily Call options with the forecast that further gains lay ahead for the crude oil binary option.
The price of gold was much weaker yesterday due to traders having a lack of risk appetite and following Friday’s session where the precious metal made heavy gains. Gold futures are higher today by about $1.45 at the $1,730.65 level. The latest gains for the gold binary option are largely due to the weaker dollar, which has arisen due to the forecast that Fed Chairman Ben Bernanke will announce monetary easing measures during tomorrow’s policy meeting. This is why the markets are so bullish at the moment. Gold is set to continue gaining ground, as long as the dollar is weaker. Therefore, opening Call options for the current trading day is very popular among binary options traders.
The Dow Jones binary options made heavy losses yesterday by declining 0.39% to the 13,254.29 level. Traders sold off the index binary option yesterday due to the lack of confidence in the financial markets, which was sparked by the release of negative economic data from the leading economies. It was the view amongst traders that the leading assets were overbought, explaining why the Dow fell so heavily on Monday. However, the Dow Jones binary option is expected to make a bullish comeback today, so open your Call options now.
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