Daily Market Review: 14th November 2014

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Binary Options Daily Market Review 14th November

Today's Hot AssetToday’s Hot Asset for you to Trade On: USD/JPY.

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USD/JPY

US Dollar (USD)  Vs Japanese Yen (JPY)

A 7 year high was recorded for the USD/JPY on Thursday. The continuing large volume Yen sell-off contributed. The pair tipped the scale at 116.40 and later settled. An increase of more than 250 pips has been seen along this week after the price was spurred by speculation of an increase in sales tax. Due to be implemented in December, the increase may be postponed. A level of 120.00 is now a possibility.

The trend is slightly up. Support is found at 114.80 and resistance at 116.40.

Trend:  Slightly Down

 

EUR/USD

US Dollar Vs Euro

Traded in a slim channel between 1.2420 and 1.2490 The EUR/USD continued its stability. The Asian session showed the pair decreasing to the lower limit of the channel as investors expected to see negative data coming from the German GDP release. The report from Germany, issued today at 7.00AM (GMT) was more positive than anticipated. Most traders found comfort in the data as it gave a good sign in the eye of further recession.

The trend is sideways. Support is found at 1.2370 and resistance at 1.2500.

Trend: Sideways

 

Gold

Daily Gold Market Report

Gold remained in its sideways trend yesterday, trading between $1,156/ounce and $1,170/ounce. The price dropped slightly towards $1,150/ounce as the U.S. dollar showed signs of strengthening. The price may continue to be influenced by the bearish sentiment and be pushed down, yet again today. It is anticipated to push the $1,140/ounce level. Traders should keep an eye on the U.S. markets data later today.

The movement is sideways. Support is found at 1,138 and resistance at 1,180.

Trend: Sideways

 

Crude Oil WTI

Daily Crude Oil Market Report

$73/barrel and dropping. The WTI Crude continued its descent yesterday, the price is now at its lowest level since 2010, and may drop even lower. Another increase in supply, shown yesterday by the U.S. inventory report, is pushing the price further down. An option by OPEC could see cutting of production, if the price reaches below $70/barrel. The price is expected to stay low until this time.

The trend is sideways. Support is found at 73.25 and resistance at 75.00

Trend: Sideways

 

Disclaimer: The information in Market analysis should serve for informative purposes only. Binary Options Wire shall not be held responsible for the validity of the presented information. No part of this analysis recommends the purchase or sale of forex pairs, commodities, stocks or indices.

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, also known among professionals under her nickname “Moneymaker”, is an experienced stock broker and Forex trader. Promoting and guiding new traders to the binary options market is Nancy''s way of saying "thank you" to the industry that helped her realise her dreams.

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