Binary Options Daily Analysis: Crude Oil Caps a Mini Comeback
There is a lot of strength for the U.S. currency today. This is after there was the release of a lot of positive data from the U.S. economy during last week’s trading session. This allowed it to make very big gains versus the euro, pound and a number of other leading currencies. It is true that the greenback is one of the most favored currencies this morning. However, there is a lot of vulnerability for the U.S. currency today. Therefore, you will need to understand this while trading the USD in the next few hours of trading.
The euro has made some big losses versus the greenback this morning, but some very impressive gains versus the pound. It may be that the advances capped versus the British currency may be more owed to the GBP’s weakness rather than the euro’s strength. There will need to be much positive data form the Eurozone today to at least back the EUR.
The yen has been sliding ever since there was a rally in Japanese stocks an hour ago. The biggest losses have been made versus the greenback. It is important to take into account that the yen was much stronger in early trading. Therefore, traders may want to see what it is in it for them by going short on the yen today. A popular trade at the moment is Call options in the USD/JPY.
There has been a lot of bullishness for U.S. stocks in the past week of trading. The fact is that there is renewed risk appetite when speaking of U.S. stocks, as traders feel that there is still a lot of bullishness in them.
This is after there was some weakness in the early part of last week’s trading session. Therefore, you will need to be prepared for a scenario of another rally on Wall Street this Monday afternoon.
Crude oil futures stared today’s trading season much lower. However, the commodity is higher at the moment by more than 10 cents, showing what an impressive comeback we are seeing for the black gold. This marks the fifth straight trading day where rude has been able to climb.
Traders feel that it is worth it for them to start opening Call options in crude oil due to there being so much confidence in the leading energies this Monday.
The fact is that there is so much instability I the Middle East, which has given traders the much needed confidence to open Call options in crude oil. It may be the case that crude oil futures continue climbing in the coming hours.