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With the Monday session featuring business confidence numbers out of Europe and PCE numbers out of the United States, we feel that the binary options markets will probably focus on US stock markets, European stock markets, and the 2 currencies more than anything else. However, keep in mind that the US dollar can move against just about anything at the moment.
1 – With that being said, we believe that the US stock markets are trying to go higher, and we do trust them more than the European stock markets. With this, we are bullish of US stock indices and believe that pullbacks will end up being buying opportunities. As far as Europe is concerned, we do trust the core part of Europe more than peripheral Europe, but that normally goes without saying anyway.
2 – Precious metals in general pulled back during the session on Friday, but quite frankly they were in need of some momentum and pulling back will give us the opportunity. We are paying attention to see if we get some type of supportive candle that can get us into the marketplace and buying calls.
3 – The Canadian dollar should continue to be weak, especially against the US dollar. With that being the case, we believe that commodity markets in general will be mixed, but commodity currencies will certainly suffer. We also look for softness and other currencies such as the Australian dollar and the New Zealand dollar. Ultimately, the market will prefer stability in the form of the US dollar, and the Euro against those currencies as well.
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