Daily Market Analysis March 11th, 2015

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Market Analysis whyoptions 12 JanuaryGood morning traders,

I guess we can all ‘hail the king USD’, there appears to be no stopping the worthy rise of the dollar. In yesterday’s European session, the dollar hit another 12-year high at 98.50, which is a continued celebration post the NFP report on Friday. The growing concerns over the Greek bailout are weighing heavily on the Euro at present. There is no telling when this crisis is going to end.

Heading into the Federal Reserve’s highly anticipated monetary policy meeting this month it looks as though the USD is as confident as ever. On previous Fed’s tightening procedures the USD was pulling back, however, February came to lows of 1.60% and currently it is at 2.15% over exceeding the Feds expectations. The US yields could meet 100.00 due to the environmental low yields.

The EUR / USD are taking over all the financial news headlines today while the USD / JPY are also on the rim of a big breakthrough as well as to reach a 7 year high and see the 121.84 mark. Not only is the Yen (JPY) being affected by the great USD, the Nikkei is amongst the commodities that are also affecting the rapidly gaining pair. As the history would have it, when investors are feeling optimistic they decide to purchase stocks and indices, and sell currencies. In this case, they are looking to sell the Yen (JPY) and buy more on the Nikkei. When the adverse is true they hurry to buy the currencies and sell as many equities as possible. There are many factors that contribute to the USD / JPY and Nikkei parallels, and the are affected by external factors like imports and exports. These too play a big role in the strengthening of the pair. However, it could lead great disappointment and destruction too.

Turning down under the NZD / JPY have found some support around 200-day SMA, after receiving some negative comments as of the meeting held earlier yesterday by the Reserve Bank of New Zealand (RBNZ). The pair broke through a key support area around 90.00. Where the AUD / JPY appear to be stable and holding its ground for now. Things may very well change on Thursday after the RBNZ meets yet again and they dish out more bearish commentary.

The Kiwi (NZD) has been hit by all sides – yesterday some better than anticipated economic statistics came out regarding China’s consumer price index, this was at a better than expected number and rose to 1.4% y/y in February beating the forecast of 1.0%. Dejectedly, this was all in vein as it did not help the NZD one little bit.

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Today’s Binary Options Trading Tip:

Not meeting any expectations it is safe to say that a CALL on the USD / NZD will make you a nice return on your investment. Other pairs to look out for are the AUD / JPY doing well on that front, a CALL would be my option or a PUT on the NZD / JPY and NZD / USD. Finally, PUT on the miserable state of the EUR / USD.

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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