Binary Options Market Report – August 26, 2011

BinaryOptionsNow | Published on August 26, 2011 at 7:29 am

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FOREIGN EXCHANGE

  • EUR/USD closed lower on Thursday as it extends this summer’s trading range. The low-range close sets the stage for a steady opening on Friday. Stochastics and the RSI are neutral to bullish signalling that sideways to higher prices are possible near-term.
  • USD/JPY closed higher on Thursday and The high-range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI are turning bullish signalling that sideways to higher prices are possible near-term. If it extends this week’s rally, the 25% retracement level of the April-August decline crossing is the next upside target. Closes below the 10-day moving average crossing would signal that a short-term high has been posted
  • GBP/USD closed lower on Thursday and below the 20-day moving average crossing confirming that a short-term top has been posted. The low-range close sets the stage for a steady to lower opening on Friday. Stochastics and the RSI are bearish signalling that sideways to lower prices are possible near-term. If it extends this week’s decline, the reaction low crossing is the next downside target. Closes above the 10-day moving average crossing would confirm that a short-term low has been posted.
  • USD/CHF closed lower on Thursday and The mid-range close sets the stage for a steady to lower opening on Friday. Stochastics and the RSI remain neutral to bullish signalling that sideways to higher prices are possible near-term. If it extends the rally off last week’s low, the 38% retracement level of the 2010-2011-decline crossing is the next upside target. Closes below the 20-day moving average crossing are needed to confirm that a short-term high has been posted.

BULLION

  • Gold closed higher due to short covering on Thursday but not before spiking below support marked by the 20-day moving average crossing. The high-range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI are turning bearish signalling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing are needed to confirm that a short-term top has been posted. Closes above the 10-day moving average crossing would temper the near-term bearish outlook.
  • Silver closed higher due to short covering on Thursday as it consolidates some of this week’s decline. The high-range close set the stage for a steady to higher opening on Friday. Stochastics and the RSI are turning bearish signalling that a short-term top might be in or is near. Closes below the July-August uptrend line crossing would confirm a top and trend change has taken place. If it renews the rally off June’s low, the 75% retracement level of the April-May-decline crossing is the next upside target.

U.S. STOCK MARKET INDICES

  • DJI closed lower on Thursday and The low-range close sets the stage for a steady to lower opening on Friday. Stochastics and the RSI are bullish signalling that sideways to higher prices are possible near-term. Closes above last week’s high crossing are needed to confirm that a low has been posted. SPI closed lower on Thursday as it consolidated some of this week’s short covering rally. The low-range close sets the stage for a steady to lower opening when Friday’s night session begins trading. Stochastics and the RSI have turned bullish signalling that sideways to higher prices are possible near-term. NDI closed lower on Thursday as it consolidated some of this week’s short covering rally. The low-range close sets the stage for a steady to lower opening when Friday’s night session begins trading. Closes above the reaction high crossing are needed to confirm that a bottom has been posted.

ENERGY

  • Crude Oil closed higher on Thursday as it extends some of this week’s rally. The high-range close sets the stage for a steady opening on Friday. Stochastics and the RSI are bullish hinting that a low might be in or is near. Closes above the reaction high crossing are needed to confirm that a low has been posted. If it renews this summer’s decline, the 75% retracement level of the 2009-2011-rally crossing is the next downside target.
  • Natural Gas closed higher due to short covering on Thursday as it consolidates some of the decline off June’s high. The mid-range close sets the stage for a steady opening on Friday. Stochastics and the RSI are turning neutral to bullish hinting that a short-term low might be in or is near. Closes above the reaction high crossing are needed to confirm that a short-term low has been posted. If it extends the decline off July’s high, the October 2010 low on the monthly continuation chart crossing is the next downside target.

COFFEE

  • Coffee closed higher on Thursday as it extends this month’s rally. The low-range close sets the stage for a steady to lower opening on Friday. Stochastics and the RSI are overbought but remain neutral to bullish signalling that sideways to higher prices are possible near-term. If it extends this month’s rally, June’s high crossing is the next upside target.

Content by: HYMarkets

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Binary Options Market Report - August 26, 2011, 5.0 out of 5 based on 1 rating

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