German ZEW Numbers To Impact DAX And EUR/USD
Binary Options Strategy | Jun 16, 2015 02:06AM ET
Looking at the markets for the Tuesday session, one of the more important numbers that come out for announcements will be the ZEW numbers out of Germany. With that, we believe that the DAX and the EUR/USD will come into play as the announcement can have a fairly significant amount of impact.
The EUR/USD pair initially gapped lower during the open on Monday, but then turned back around, testing the range that we have been stuck in for some time. We believe that the 1.11 level below is supportive, and the 1.14 level is resistance. Ultimately, we feel that the market can continue to be bought via calls every time it dips on a short-term chart.
The FTSE fell during the course of the session on Monday, testing the 6900 level. If we can break down below there significantly, the market should then head down to the 6800 level, which of course is a very bearish sign. We would be buyers of puts at that point in time, so if we can get the FTSE to break down a little bit, we would get involved. Ultimately though, if we form some type of supportive candle on the daily chart, we would be a buyer of calls at that point in time.
The WTI Crude Oil market initially fell during the course of the session on Monday, but found enough support to turn things back around and form a hammer. The hammer, of course, is a bullish sign, so we believe that the market is going to go higher. We believe eventually that the market will then reach towards the $62 level, and therefore has us buying calls. On the other hand though, if we break above the $62 level, we feel that the market becomes a “buy-and-hold” type of situation going forward.
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