Binary Options Asset Insights - August 30, 2016

During the course of 2, we get a handful of small level announcements, so having said that it will probably be a fairly quiet session and therefore explosive moves aren’t going to be very likely. However, we are looking at the following 3 assets.

Gold

During the course of the day on Monday, the gold market went back and forth as we continue to see quite a bit of support just below. With this being the case, it’s likely that sooner or later there will be value hunters jumping into this market, but at this point it seems to be very choppy. With this, there seems to be quite a bit of support just below.

Chart 1

DAX

The German index did very little during the course of the session on Monday, forming a small hammer. Ultimately though, this is a market that seems to be attracted to the €10,500 level, and as a result we could continue to see very short-term trading at best. Short-term binary options could be the way going forward as the market simply grinds back and forth.

Chart 2

FTSE 100

The FTSE went back and forth during the course of the session on Monday, forming a relatively neutral candle. There is quite a bit of support just below though, so having said that the 6700 level just below. With this, we could get value hunters coming soon but at this point in time it’s very likely that the market will continue to be very choppy.

Chart 3

GBP/USD: Declines.

The GBP/USD declines, trading below the resistance area of 1.3200. Put buyers might be attracted for the market.

Contrary, a reversal upward move might offer opportunities to call buyers.

gbpusd

USD/CHF: Bullish.

The USD/CHF is rising, close to resistance area of 0.9850. It would not be unexpected for the pair to continue to this direction where call buyers will probably looking for opportunities.

Otherwise, a downward move, might give opportunities to put buyers.

usdchf

USD/CAD: Rises.

The pair USD/CAD is trading upwards during the last two sessions. With this being the case, call buyers might push the market to go higher by entering the market.