View Full Version : Daily Market Review 18/09/2012 US Opening

09-18-2012, 05:28 PM
Binary options on U.S. stock futures slid, indicating the S&P 500 Index will decline for a second day, amid mounting concern that Europeís leaders will struggle to resolve their debt crisis. The index lost 0.3% yesterday after a meeting of European Union finance ministers in Cyprus on Sept. 14 and 15 didnít succeed to agree on a timetable for a more unified banking industry on the Old Continent, the conditions in the bailout requests and the role of the European Central Bank in the whole process. Spanish bond yields rose to more than 6% yesterday for the first time since Sept. 7, the day after policy makers approved ECB President Mario Draghiís plan to buy government debt. Today the Spanish binary IBEX35 opened red and continued to drop as much as almost 1%. Binary Dow Jones30 lost 0.30% yesterday and closed at 13 553. Nasdaq100 lost less than 0.1% yesterday, being the best performing U.S. index despite being a loser at the same time. Apple gained 0.08% after closing just below a record high just below $700, after announcing that pre-orders for its new IPhone5 have sold out.
Today the economic calendar is not very dense. At 09:00 GMT the German ZEW Economic Sentiment came slightly better than expected, but still negative at -18.5. European binary stock markets are I n the red for the European session as woes on the debt crisis aroused as the meeting of EU financial ministers held in Cyprus didnít end with a unified policy and solution. Binary options on the FOREX market trade vaguely today and for now offer little opportunities to binary traders. EURUSD slid 0.41% to the current 1.3063 during the European session. The British Pound remains unchanged from the start of the day and fluctuates in tight range around the opening at 1.6245. The Japanese Yen gained 0.11% versus the greenback. Commodity currencies traded sideways and Aussie and Kiwi went in different directions, as AUSUSD lost third of a percent while NZDUSD is up 14 pips.
Binary Gold tumbled slid 0.8% yesterday and finished at 1760. Crude Oil was the biggest loser for the day as it tumbled more than $4 for one hour, but recovered partly, making the daily loss slightly more than 3%. Currently the market trades 10 cents higher than 96.00. Binary Silver remained less volatile yesterday as it lost only 1.3%. Today looks like a recovery day for Gold and Silver and like a sideways day for the black gold.
http://cdn2.binaryoption.com/wp-content/uploads/2012/09/180912-binary-eurusd-150x100.png (http://cdn2.binaryoption.com/wp-content/uploads/2012/09/180912-binary-eurusd.png)EUR/USD
Binary Euro is falling during the European session after it formed double top formation topping at 1.3168 on the hourly chart. The market broke below its 20 and 50-period exponential moving averages, indicating that the short-term momentum has turned to neutral. Currently the market is just at one of its projected supports at 1.3053. The price is accelerating to the down side and it probably would break the level, but the lower line of the ascending price channel that comes around 1.3025 would provide enough support for the bears to stop pushing the market down. The medium-term trend remains bullish until eventual break below 1.30. Till then binary traders should look for opportunities to buy call options at good prices i.e. new market lows.

http://cdn2.binaryoption.com/wp-content/uploads/2012/09/180912-binary-crude-oil-150x100.png (http://cdn2.binaryoption.com/wp-content/uploads/2012/09/180912-binary-crude-oil.png)Crude Oil
Binary Crude plunged yesterday unbelievable $4 for one hour but after it bottomed at 94.48, it recovered to 96.90. The long term-trend remains bullish and this sudden drop should be considered a reasonable opportunity for buying call and touch up options. Support for the daily session is 95.35, while resistance is way higher at 97.20, where the daily top lays. Binary traders should keep in mind that the Crude Oil is one of the most volatile tradable instruments and significant price moves in it could happen in single day. For now the daily bias remains neutral, but the long-term picture remains bullish.

http://cdn3.binaryoption.com/wp-content/uploads/2012/09/180912-binary-sp500-150x100.png (http://cdn3.binaryoption.com/wp-content/uploads/2012/09/180912-binary-sp500.png)S&P500 Futures
Market edged down yesterday and closed slightly red with 7 points loss. The binary futures continued dropping today, but their current daily loss is only 0.3%. S&P performed spectacularly last week as it went up almost $30, but this week doesnít start very promising. Bears pushed prices almost $20 below their Friday high at 1475 and the market is seeking support at the current 1457. Hopefully the level would hold, because in case of failure the benchmark is expected to drop for another 15 points to 1400. The daily bias is neutral for now and considering the lack of major economic data today, it would probably remain the same till the closing bell.

Source: binaryoption (http://www.binaryoption.com/binary-options-trading-markets/market-overview/daily-market-review-2.html)