Daily Market Analysis February 23rd, 2015

Reading Time: 2 minutes

Market News whyoptionsGood morning,

For the past two weeks investors as well as myself, have been anticipating the final verdict on what the outcome will be for the Greek crisis. In turn, what effect will that have with regards to the gloomy Euro (EUR). Well, that era is now over and it was announced that instead of the six month bailout, as per the Greeks initial request the Eurogroup did agree to another 4-month extension to the bailout. Hopefully, this will decrease the hype in the financial news and simmer down to a more stable trading air when we look at the EUR. Again the pair EUR / USD is establishing a triangle pattern, not exactly the ideal. I recommend that you proceed with caution should you decide to trade this pair today. As the breaking news that should follow later this afternoon regarding the Greeks list of reforms, should Troika (European Commission, European Central Bank and International Monetary Fund) approve then we should see the Euro make a comeback on a bullish trend for the remainder of the week.

Another pair that has been making a slow but sure comeback and is a little more stable compared to the bipolar pair above is the AUD / NZD. This pair had declined to an all-time low on Thursday. Then by Friday at close of business this pair rallied in a bullish trend, surprising investors. It prompted investors to turn their focus away for the EUR / USD and look at this new pair making the headlines amidst the hail storm of the Euro. Having said that there is a glimmer of hope for the Australian dollar (AUD) Wednesday sees the release of the wage-price and construction figures report also worth a mention the HSBC’s private sector reading of manufacturing PMI announcement. What is probably more important is Thursdays release of the CAPEX should all this prove to be optimistic the mining sector will show growth and that positively will spread to the AUD and we should see an increase there too.

After the January retail sales announcement, the GBP / USD had slowly started making its way down lower than the UK data that was expected. The fall in the retail sales over the festive season was a shocking pitfall in Britain. However, consumers decided to save instead of spend which did, in fact, have a good outcome from the borrowing perspective at the banks. This will lay the path for a good election in May as things that perhaps seemed bleak in the UK are actually looking up and there is a sense of enthusiasm in the air and ready for spring in the May elections.

Binary Trading Tip of the Week:

Stock trading has many remunerations, with a wide variety of newsworthy events, public information as well as easy to trail where the behavior of the stocks are concerned. There is no need to always stick to the safe haven of Currency trading, as a beginner one can also venture out into trading in this asset class.

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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