EUR/USD: Buy Rally Puts
Binary Options Strategy | Mar 17, 2015 05:18AM ET
Looking at the Tuesday session, there is a very little in the way of economic announcements to move the markets. That being said, I am looking at the charts for a possible trading opportunities. The first chart that I am looking at is the EUR/USD pair, which bounced off of the 1.05 handle. Ultimately, I believe that this market breaks down below there, but in the meantime the best thing we can do is buy puts every time this market rallies.
The FTSE 100 broke higher during the course of the session, breaking above the 6800 level. With this, the market looks as if it is ready to continue going higher, probably heading to the 6900 level. The FTSE should then make another attempt to reach the 7,000 level, and with that we are very bullish and think that any pullback will offer value and as a result buyers will continue to reenter the market.
Silver markets went back and forth during the course of the session as well, ultimately settling on a shooting star. The shooting star sits above the 15.50 level, which is the beginning of significant support. The support runs all the way down to the 15.00 level, so therefore we believe that the market could break down to that area, but expect quite a bit of volatility between here and there. Because of that, we believe that it’s much easier to trade short-term charts more than anything else.
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.