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2014.
The pair has plummeted and is not
consolidating. Support is seen near 104.20. Most likely the
currency is going to rebound from that level, as the aforementioned
dip was apparently the correction of the long lasting ascent.
Market Overview
The main currency pair on Thursday
was moving reluctantly, though there were enough triggers of
activity exacerbation even without inflation release in the USA.
Yesterday there were reports released on CPI in Europe and the
US.
The first one wasn't a big surprise:
December inflation in Europe remained at 0.8%. Basic index showed a
monthly growth by 0.3% in the yearly count increasing only by
0.7%.
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US indices finished the trading day
in the green after the World Bank raised the global growth
forecast. The Dow Jones rose by 0.66%, the S&P500 by 0.52%, and
the NASDAQ added 0.82% to its value. Technically, and
according...
British Pound (GBP)
The Pound fell against the US Dollar
yesterday. Technically, and according to 4-hour chart, we notice
that the GBP/USD has created a Descending Triangle pattern with
support at 1.6346 and resistance at 1.6430. Currently, the pair is
showing a positive momentum with a strong support level which could
push the price higher. But if the GBP/USD fails to breach
resistance it may complete the bullish triangle by falling to
around 1.6300.
Bank of America in a research note
said it lowered its gold forecast by 11% to ,150 an ounce: "While
index rebalancing may support gold until 14th January, we see
limited support to prices beyond that. Our continued bearish view
is driven by the challenging macro-economic environment, which is
best captured by rising US 10-year rates and a persistent lack of
inflation pressures."
Barclays
Barclays said in a research note that
gold would test 2010 lows during 2014: "Absent a shift in
sentiment, we believe risks are skewed to the downside given the
potential for hedging; slowing physical demand; and, most
important, a macro backdrop of modest growth, fewer tail risks, and
a stronger dollar increasing the scope for further
disinvestment."
US indices finished the trading day
with sharp gains as the Core Retail Sales m/m rose and the
Financial Statements was published higher than forecast. The Dow
Jones rose by 0.71%, the S&P500 by 1.08%, and the NASDAQ added
1.93% to its value. Technically, and according to the 8-hour chart,
the Dow Jones hit the 38.20% Fibonacci Retracement but failed to
breach it; a strong signal that the index will continue to rise and
the momentum remain bullish. The support level is at 16,175 and
maintaining this level could push the Dow higher towards 16,400.
However, if the Dow Jones breaks this support level, it could
continue its drop towards the 50% Fibonacci Retracement at
16,077.
Crude Oil - Short Term
Crude Oil rose yesterday by 1.09% to
close around the .65 mark due to the positive momentum in the
stocks markets. According to 8-hour chart, oil has strong support
at 91.20 and attempted to break this but failed. Oil might test
this support again today before the inventories come out. If it
fails to break support for a third time, this could open long
positions that may send oil towards a barrel in one week. The
RSI indicator is at 38, indicating that oil is oversold; a factor
that also supports short-term
Binary options traders often make
use of Competitive Related Value Trade to take advantage of price
action of two or more highly correlated firms operating in same
trading niche such as Microsoft versus Mac, Apple versus Google or
Pepsi versus Coca Cola.
Binary options came into my life
through my husband. A few years ago he went through a phase where
he fancied himself as a bit of an investor. He bought all sorts of
books on the subject, had Bloomberg news on day and night, and
eventually settled on binary options as his preferred method of
trading. I should probably say here that my husband, like many men
of his generation, goes through phases, our house bears the scars
of his last foray into the world of D.I.Y (my kitchen is still
without a floor).
Anyway he was pretty average at
binary options trading. Too impatient, too eager to trade. He
didn't lose an awful lot of money but then he never really made
anything either. When he finally dropped his trading fad he had
about 0 left in his account and I asked him whether I could have
a play on it. Being his usual chauvinist self he was dismissive
about my prospects as an online day trader. How could a humble
housewife understand the intricate complexities of the world's
markets better than the master of the house?
HeroTrader had another successful week resulting in
11.9% gain. We had 35 winning trades with only 26 losses and a max
profit of 6.9%.
This month we had most of our luck
trading currencies. We noticed our stocks dropped slightly as the
markets trends have been bearish. We're confident things will pick
back up. We encourage you to copy HeroTrader!
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