October 3rd Binary Options General Analysis

During the day on Monday, we get the ISM Manufacturing PMI numbers coming out of the United States, as well as the UK Manufacturing PMI numbers. Because of this, we could see a bit of action on both sides of the Atlantic during the day, and should be a fairly evenly distributed day as far as volatility is concerned.

The US dollar got a bit of a boost on Friday in the Forex markets, and at this point in time it looks like the US dollar will probably be favored overall. It doesn’t look like a very strong move, just a simple grind in favor of the greenback in general, and that should be especially true against the European currencies. With this being the case, call buyers very well could find themselves entering the market in favor of the US dollar again and again.

At the same time, precious metals got quite a boost during the day on Friday, as we continue to try to break above significant resistance going forward. There does seem to be a massive amount of support below current levels in both the gold and silver markets, so it appears that the call buyers are finding the precious metals sector to be favorable once again.

European indices got off to a fairly rough start on Friday, but turned around to form a bit of a supportive candle. By doing so, it looks as if the major support is starting to hold, and it will more than likely encourage call buyers to reenter the market in favor European indices as the Euro continues to slump.