Daily Market Analysis 11th February, 2015

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How to trade binary options in a bear marketGood morning traders,

This week has seen a rather slow start to trading. The greenback (USD) saw a slight decline yesterday, which was short lived. The USD fast resumed its upward trend and gained trader confidence once again. There is a Eurogroup meeting that will take place later today that will discuss Greece, and this could see a slight downward trend tomorrow. Then Thursday’s Quarterly Inflation report from the Bank of England, which will probably put the US traders at a slow session there as well.

Following more positive expectations that I think could do well by the break of Thursday is the USD / CAD (Canadian Dollar). This pair has been caught up in an up and down battle with it not necessarily sticking to any particular direction. This North American pair could very well be the money maker for today. The pair is reaching the end of its short-term symmetrical triangle and a breakthrough today could mean a big move by Thursday afternoon / Friday.

Let’s put aside the escalating issues that Greece is presenting and turn our attention to the US 10-year treasury which touched 2% yesterday this last happened in January. Why is this noteworthy? For one, the prospect of the Fed increasing rates by a 25 basis point is now back in fruition. Another reason, as the USD keeps reaching highs the German yield keeps reaching lows and this could mean a dismal ending for the EUR / USD by the end of February. Finally, treasuries are normally viewed by traders as safe-havens. Should investors continue to make this perception a reality then there is not question about the US gaining more momentum and becoming the currency of choice for this month reaching fresh highs.

Changing our currency course back to crude oil – I have no choice but to mention this, Brent crude was a mere $0.50 shy of hitting the $60.00 a barrel on Monday this was just prior to sellers coming in and as a result dropped prices even lower. Sadly after the third time it closed at $59.50. The only way this commodity can make a turnaround would be for the buyers to recapture this and hold it. I predict though a further drop especially in the short term. The best outcome would be a break above $60.00 and this could be the breakthrough that it needs to start its upward and onward gain.

Todays Trading Tip for Whyoptions.com Readers:

CALL on either or all – USD / JPY ; USD /EUR and USD / CAD!

Happy Trading!

 

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Jason B Kruger

Professional Trader at WhyOptions
Jason B. Kruger is a Professional Trader & Chief Editor for WhyOptions.com, who is considered ‘The Authority’ on Binary Options Trading Strategies, Reviewing Brokers,Providers and their Products.
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