Binary Options Assets Insights For May 11, 2016

With only the Crude Oil Inventories number coming out during the day on Wednesday, we should probably have a fairly quiet session. Obviously, oil will be in focus, but there are some technical setups available.

CAC continues to grind

The Parisian index tried to rally during the day on Tuesday, but pulled back down to form a bit of a shooting star. We formed a shooting star on Monday as well, and that of course is very negative under normal circumstances. However, the €4300 level has been supportive lately, and in fact we even formed a massive hammer on Friday. Because of this, any move away from €4300 will probably be pulled right back towards that general vicinity.

USD/CAD pressing 1.30

The USD/CAD pair continues to bounce around just below the 1.30 level, an area that was massively supportive in the past. Because of this, if we can break above there it’s very likely that call buyers will become interested in this market, and continue to push higher. Obviously, you have to watch oil markets as well, as they tend to have quite a bit of an influence on the Canadian dollar itself.

WTI Crude Oil rallies

The WTI Crude Oil market rallied during the session on Tuesday, but remains well within consolidation, and still sees quite a bit of resistance near the $46 handle. Because of this, it’s very likely that any rally will meet put buyers above. Keep in mind that the inventory numbers come out, so there could be a lot of volatility in this market today.