Kruger Insights Friday – November 15, 2013 by FirstMacro

BinaryOptionsNow | Published on November 15, 2013 at 11:30 am

AnyOption review

The Amazing Yen – Another week coming to a close and the story is pretty much the same. While we have seen a bit of movement, for the most part, markets remain locked within a consolidation, while equities continue to press to fresh highs. The Yen is probably the most interesting major currency right now, with USD/JPY breaking back above the 100.00 barrier for the first time in several weeks, looking like it wants to really confirm its bullish break of a medium-term triangle pattern. Ultimately, this pair should track higher in the weeks and months ahead, and I am projecting a move to 110.00 in the first quarter of 2014. Still, in the short-term, I am not comfortable recommending a long at current levels, and would prefer to wait for another dip to look to buy into. My concern is that a sudden shift in the equity market could have an influence on the Yen (on traditional correlations), and we could see one more sharp USD/JPY drop of a few hundred points before the market looks to formally reassert and embark on its next major upside extension journey.

kruger insights november 15, 2013

Curtain Call – Overall, from here, I suspect things should get interesting. We are now entering what I would say is the final 4 weeks of the year (the last two weeks of December never really count). Given things have been rather tame, I would be on the lookout for a major pickup in vol. But for anything to change, we need to see some form of a healthy pullback in the equity market. The one way price action is just not healthy and the market being so heavily tied to monetary policy is even more dangerous. As I said some weeks back, selling rallies has proven to be an exercise in futility, and the best way to go is to take your shots on downside breaks. The key short-term level to watch below is S&P 1775, and selling this break could be the next worthwhile trade. Over the coming days I will start to think about the opportunities I see in 2014 and look forward to sharing these thoughts. Have a great weekend!

GD Star Rating
GD Star Rating



Sign up for our Newsletter
IQoption banner
24option banner

Top Binary Options Brokers

91% Returns
in case of correct prediction
3 Types of Options
Free $500 Demo Account
15% Protected Returns
Most Advanced Trading Platform
88% Returns
Free 100% Trading Bonus
89% Returns
Free 100% Trading Bonus
24option banner

Binary Options Video