July 15th Binary Options Trading Opportunities

Bank of Canada to influence several markets

With the Bank of Canada announced in an interest-rate decision today, it’s very likely that the USD/CAD pair will be a mover. However, you should also watch the oil markets, as the inventory numbers come out. Comments coming out of Ottawa will more than likely influence what happens in the oil markets as well, because the Canadians are so heavily tied to the petroleum markets. Any mention of softening demand in the oil markets coming out of the Bank of Canada will more than likely send that market lower as well as the typical effects on the currency.

USD/CAD in the spotlight.

We believe that the USD/CAD pair will probably be one of the best performing currency pairs during the session. The catch of course is trying to figure out which direction. It’s simple in this particular scenario though, because we do recognize that we are in an uptrend. We prefer to trade with the trend, so quite frankly we are buying pullbacks to show signs of support near the 1.2650 region. On the other hand, if we break above the 1.28 handle that would bust through significant resistance and have us buying calls as well.

WTI Crude Oil continues to find support.

With the Crude Oil Inventories number coming out of the United States today, you can anticipate quite a bit of volatility in this market. However, we do recognize that the $50 level will continue to offer psychological support. At this point in time, we would anticipate a bounce off of that area, having us buying calls on pullbacks. On the other hand, if we do break down below the $50 handle, we certainly have to switch positions and start buying puts.

Apple looking for support

Apple (AAPL) has a gap near the $124 level, and with the negative action on Tuesday, we believe that the market is going to pull back to that area to try to find buyers. With that, we will simply let the market drop a little bit and start buying calls when we get the chance.