Daily Market Analysis March 16th, 2015

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Binary Options Market Analysis whyoptionsGood morning traders,

Starting off this week on a new note. Crude oil yet again resumes its downward bearish trend with both major contracts ending on a low on Friday at close of trade. There is a massive growth in US crude inventories and this continues to build pressure on the commodity, so much so that it was unable to sustain its previous price levels. In my opinion in the short term at least this commodity will be unable to show signs of growth in its current market conditions. I still see a low of $40.00 per barrel in its future.

In other currency data starting the week on a lighter note as there were not many data releases to affect majors, however appears that the EUR / USD has climbed up the graph and reached 1.0500, which has helped push other majors in an upward trend against the robust USD after they had lost some ground. Even the NZD / USD had increased by 40 pip after last week’s negative reports by the RBNZ. I presume that the Kiwi (NZD) will start to stabilize, which should be seen during the week.

Both the EUR and the GBP have been under serious torture with the sustained strengthening of the USD. The pair (GBP/ USD) has shown signs that are hitting lower low than was forecast. As decreases were always on the cards with the British Pound (GBP), it was never thought that levels as low would be reported the GBP / USD close at 1.4808. This leaves me asking the question: Could the GBP / USD touch on 1.423? I predict this pair will carry on to falling for the remainder of the new week.

USD / JPY started off late in terms of showing changes in the market. The USD did not show immediate signs of strengthening straight after the US PPI report on Friday. A reason for the Fed to delay rate hikes and this report could very well be the beginning of good things for the USD / JPY this week, and I can see some signs of an upward trend. As mentioned on Tuesday the pair saw a 7.5 year high and hit 121.80. Notwithstanding the Feds possible delayed rate hike, the central bank may drop its pledge in order to allow for the reinforcement of the USD by means of maximizing flexibility to attain this goal.

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Weekly Trading Tip:

I would like to touch on the subject of Turbo Trading. Most reputable brokers do offer this trading option and it is a way for fast thinking traders to capitalize and react to immediate market changes and profit from them within a short amount of time such as 30 or 60 seconds. Where there are rewards and high profits there are drawbacks. Ensure that when you embark on a 30 / 60 second trade that you do not over-trade and feel the need to seize every trade as it hits the financial news. This type of trading wants discipline and some level of skill is required.

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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