UK Claimant Count December 17, 2014
Binary Options Strategy | Dec 17, 2014 05:40AM ET
Looking at the Wednesday session, you can see that the economic announcements are basically coming out of the United Kingdom and the US only. With that, we feel that the GBP/USD pair will be an interesting place to trade, as we still like buying puts with so much resistance above. We also like buying puts in the EUR/USD pair, as it is a market that is most certainly in a downtrend as well. We have no interest in buying either currency against the US dollar, so this point in time calls aren’t even a thought.
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Looking at the FTSE, it is a market that could break out if we can get above the highs from both Monday and Tuesday. On a move above there, we would be buyers of calls as we think the market goes much higher at that point in time. With no interest in buying puts, and believe that pullbacks could even end up being a decent call buying opportunities based upon supportive candles.
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The S&P 500 went back and forth during the course of the session on Tuesday, showing that there is a little bit of indecision in this general vicinity. With that, we feel that the market will more than likely go higher eventually, but we recognize that short-term supportive candles are probably what we need to use in order to start buying calls again. If we can get above the 2020 handle, we feel at that point time the market is free and clear to go all the way back to the 2080 handle. At this moment in time, we have absolutely no interest in buying puts in this market, as it has been so strong until very recently.
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