Binary Options Trading Opportunities – January 21, 2016

ECB Interest-rate Decision

The ECB has an interest rate decision during the day on Thursday, and quite frankly it is probably only a matter of time before the press conference moves the market. However, the question will be whether or not they add quantitative easing out of Brussels, or they do not. That of course will have a massive influence on the Forex markets, and as a result we think that the Euro could be somewhat volatile during the day. However, beyond that we see stock markets around the world looking extraordinarily soft, so there are several trading opportunities out there.

CAC falling apart

The Parisian index fell during the day testing the €4100 level. It looks as if we are going to continue to go lower now, as we have formed a “lower low.” With this, we are put buyers in this market right away, and fully anticipate seeing the €4000 handle.

EUR/GBP looking to pull back

The EUR/GBP pair rose initially during the day on Wednesday, but found the 0.7750 level be far too resistive and turned back around. The candlestick that form for the day was a shooting star, and that is a typical bearish pattern. However, we believe that there is more than enough support below to attract call buyers again, and therefore we believe that somewhere near the 0.7650 level the call buyers will reemerge. We have no interest in buying puts as we are in such a strong uptrend!

WTI Crude Oil fails again

The WTI Crude Oil market try to rally during the day on Wednesday, but failed at the $30 level. That being the case, the market ended up forming a shooting star. This of course is a very negative candle, and as a result it looks like we are going to continue to fall. Ultimately, it looks as if we are trying to reach the $25 handle.