Daily Binary Option Trading Tips & Analysis - February 2, 2015

Video Length: 00:02:15

Below Are Today's Trading Opportunities – Watch the Market Analysis Video for full analysis

1 – The EUR/USD pair continues to find resistance above, as the 1.14 level continues to be resistive. With that, we believe that every time this market rallies it is a put buying opportunity, and as a result we remain bearish of the Euro overall. With the US bond market seeing falling yields that means that there is still a significant amount of demand for US dollars, and that should continue to push this pair lower. On top of that, the Euro has more problems than we can count, so having said that this pair should continue much lower.

2 – Looking at the S&P500 (SPX), we fell during the course of the session on Friday as well, but found enough support at the 2000 level in order to turn things back around and form a nice-looking hammer. Ultimately, we believe that this pair does reach the 2060 level, and perhaps even break out above there. We are buyers of calls every time this market pulls back, as we believe eventually we will break out to the upside.

3 -The precious metals markets in general have somewhat quieted down during the session, and we believe that the next couple of sessions will be vital for both gold and silver. If we can find supportive candles, we may turned back around and take back all of the losses that we had seen earlier this week, but at this point time we are staying out of the precious metals market until we get a dead obvious signal on the daily timeframe. With that, we are optimistic, but still waiting to see what the market wants to do.