Best Forex - Editor's Choice

Broker Free Demo Min. Deposit Payout Payback Rating Sign Up
$100
71%
15%
Sign Up
$100
81%
-
Sign Up
Anyoption

Binary trading is becoming a very popular trend among former stock and Forex traders. There are many reasons for this, but the primary attraction to Binary Trading is its simplicity.

Trading Binary Options could not be simpler. You choose an asset, whether it is a stock, index, currency pair, or a commodity, then evaluate whether that asset will be increasing or decreasing in the near future.

24option

24option.com is a label powered by seasoned professionals in the fields of Forex trading and online marketing.
Their combined expertise ignited the launch of the 24option platform.The ease of use of the 24option user interface, online assistance and highly dedicated support make trading simple.

Live Forex Chart
eToro Forex Trading

News

noimage

AUD/USD Risks Bearish Break on Slowing Australia CPI- 0.8600 on Tap?

- Australia Consumer Price Index (CPI) to Slow From Fastest Pace of Growth Since 2011.

- Core Inflation to Fall Back From Highest Reading Since 2010.

Trading the News: Australia Consumer Price Index (CPI)

A marked slowdown in Australia’s Consumer Price Index (CPI) may spur a bearish break in the AUD/USD as it puts increase pressure on the Reserve Bank of Australia (RBA) to keep the benchmark interest rate on hold for an extended period of time.

Sign up for David’s Email Distribution List for More Updates!

What’s Expected:

AUD/USD CPI

Click Here for the DailyFX Calendar

Why Is This Event Important:

At the same time, it seems as though RBA Governor Glenn Stevens will retain the verbal intervention on the Australian dollar in order to further assist with the rebalancing of the $1T economy, and the AUD/USD remains at risk for a further decline as the central bank head remains in no rush to normalize monetary.

Expectations: Bearish Argument/Scenario

Subdued wage growth paired with the persistent weakness in the labor market may drag on inflation, and a marked slowdown in the CPI may renew bets for additional monetary support amid the weakening outlook for global growth.

Risk: Bullish Argument/Scenario

However, the ongoing expansion in building activity may generate a stronger-than-expected inflation print, and sticky price pressures may boost interest rate expectations as the central bank continues to see a more meaningful recovery in 2015.

How To Trade This Event Risk(Video)

Bearish AUD Trade: CPI Slows to 2.3% or Lower

  • Need red, five-minute candle following the CPI report for a potential short AUD/USD trade
  • If market reaction favors a bearish aussie trade, short AUD/USD with two separate position
  • Set stop at the near-by swing high/reasonable distance from entry; look for at least 1:1 risk-to-reward
  • Move stop to breakeven on remaining position once initial target is met, set reasonable limit

Bearish AUD Trade: Price Growth Exceeds Market Expectations

  • Need green, five-minute candle to consider a long AUD/USD position
  • Carry out the same setup as the bearish aussie trade, just in the opposite direction

Potential Price Targets For The Release

Join DailyFX on Demandfor Real-Time Updates on the DailyFX Speculative Sentiment Index!

AUD/USD Daily

AUD/USD Daily Chart

Chart – Created Using FXCM Marketscope 2.0

  • As the wedge/triangle formation highlights consolidation phase, will need to see a break in the RSI to generate a near-term bias.
  • Interim Resistance: 0.8845 (23.6% retracement) to 0.8865 (61.8% expansion)
  • Interim Support: 0.8600 pivot to 0.8610 (38.2% expansion)

Read More:

Price & Time: When Does the USD Trend Resume?

EURCAD Hits Target- Long Scalps Eye 1.4457 Resistance

Impact that Australia’s Consumer Price Index (CPI) report has had on AUD during the last release

2Q 2014Australia Consumer Price Index (CPI)

AUD/USD Chart

Australia’s 2Q Consumer Price Index (CPI) came in line at an annualized rate of 3.0% after expanding 2.9% during the first three-months of 2014, while the core inflation unexpectedly surged to a 4-year high of 2.9%. Heightening price pressures may continue to dampen bets of seeing the the Reserve Bank of Australia (RBA) further embark on its easing cycle, but it seems as though the central bank is in no rush to normalize monetary policy as the persistent strength in the Australian dollar dampens the outlook for growth and inflation. Nevertheless, the better-than-expected CPI prints spurred a bullish reaction in the Australian dollar, with the AUD/USD climbing above the 0.9400 handle and ending the Asia-Pacific trade at 0.9445.

— Written by David Song, Currency Analyst

To contact David, e-mail dsong@dailyfx.com. Follow me on Twitter at @DavidJSong.

To be added to David’s e-mail distribution list, please follow this link.

Trade Alongsidethe DailyFX Team on DailyFX on Demand

Looking to use the DailyFX Trade Signals LIVE? Check out Mirror Trader.

New to FX? Watch this Video

Join us to discuss the outlook for the major currencies on the DailyFXForums

noimage

NZDCAD Outside Reversal Day Favors Short Scalps Sub-9050

Talking Points

  • NZDCAD outside reversal off key resistance shifts scalp bias lower
  • Bearish invalidation at today’s high
  • Event risk on tap this week

NZD/CAD Daily Chart

NZDCAD Outside Reversal Day Favors Short Scalps Sub-9050

Chart Created Using FXCM Marketscope 2.0

Technical Outlook

  • NZDCAD posts outside daily reversal candle off key resistance 9035/50- bearish invalidation
  • Support objectives 8863, 8817/25 & 8600/13- Key support
  • Resistance breach targets objectives at 9134/47 & 9175
  • Daily RSI resistance trigger break- constructive
  • Momentum reversal ahead of 60 / break sub-50 would be bearish
  • RSI support trigger pending
  • Event Risk Ahead: Canadian Retail Sales & BoC Rate Decision & New Zealand CPI tomorrow and New Zealand Trade Balance on Thursday (ET)

NZD/CAD 30min Chart

NZDCAD Outside Reversal Day Favors Short Scalps Sub-9050

Notes: The NZD/CAD is working on an outside day reversal candle off key resistance and near-term our focus is lower in the pair while below today’s high at 9050. Note that the pair is trading within the confines of an Andrew’s pitchfork off last week’s high and a break below the bisector line likely to fuel accelerated losses in the pair.

Bottom line: looking to sell rallies while below the weekly high with a break below Friday’s low adding further conviction on short-side exposure. A breach above 9050 invalidates our near-term bias with such a scenario eyeing subsequent topside objectives into the 200-day moving average around 9150. Caution is warranted heading into tomorrow’s event risk with the Bank of Canada interest rate decision likely to fuel added volaltility in CAD crosses. Follow the progress of trade setups like these and more throughout the trading week with DailyFX on Demand.

* It’s extremely important to give added consideration regarding the timing of intra-day scalps with the opening ranges on a session & hourly basis offering further clarity on intra-day biases.

Key Threshold Grid

*ORH: Opening Range High

*ORL: Opening Range Low

Other Setups in Play:

—Written by Michael Boutros, Currency Strategist with DailyFX

For updates on this scalp and more setups follow him on Twitter @MBForex

To contact Michael email mboutros@dailyfx.com or Click Here to be added to his email distribution list

Join Michael for Live Scalping Webinars on Mondays on DailyFX and Tuesday – Thursdays on DailyFX Plus (Exclusive of Live Clients) at 12:30 GMT (8:30ET)

Interested in learning about Fibonacci? Watch this Video

noimage

EUR/USD Bear Flag in Focus Amid Bets for ECB Corporate-Bond Purchases

Talking Points:

- EUR/USD Weighed by Talks of ECB Corporate Bond Purchases.

- AUD/USD Retains Wedge/Triangle Formation Ahead of 3Q CPI Report.

- USDOLLAR Holds Monthly Low Ahead of CPI; Existing Home Sales Beats Forecast.

For more updates, sign up for David’s e-mail distribution list.

EUR/USD

EUR/USD Daily Chart

  • EUR/USD threatens channel support amid headlines the European Central Bank (ECB) will embark on corporate bond-purchases to further expand its balance sheet; expectations for additional monetary easing continues to build as the monetary union faces a growing risk of slipping back into recession.
  • Even beyond the fundamentals, the bear flag pattern continues to cast a bearish outlook, especially as the Relative Strength Index (RSI) fails to retain the bullish momentum from earlier this month.
  • Despite the recent volatility in the DailyFX Speculative Sentiment Index (SSI) retail crowd is currently net-long EUR/USD, with the ratio standing at +1.09.

AUD/USD

AUD/USD Daily Chart

  • Despite the better-than- expected 3Q GDP report out of China, AUD/USD remains stuck in the wedge/triangle formation as the Reserve Bank of Australia (RBA) continues to lay out a neutral tone and retains the verbal intervention on the aussie.
  • Australia’s Consumer Price Index (CPI) will be in focus as the headline & core rate of inflation are expected to slow in the third-quarter.
  • Waiting for an RSI break for a more meaningful directional bias; next downside target comes in around the 0.8600 pivot to 0.8610 (38.2% expansion).

Join DailyFX on Demand for Real-Time SSI Updates Across the Majors!

Read More:

Price & Time: When Does the USD Trend Resume?

EURCAD Hits Target- Long Scalps Eye 1.4457 Resistance

USDOLLAR(Ticker: USDollar):

EUR/USD Bear Flag in Focus Amid Bets for ECB Corporate-Bond PurchasesUSDOLLAR Daily Chart

Chart – Created Using FXCM Marketscope 2.0

  • The Dow Jones-FXCM U.S. Dollar Index pares the decline from earlier this week as U.S. Existing Home Sales climbs 2.4% in September after contracting 1.8% the month prior.
  • Despite expectations for a faster recovery, the U.S. Consumer Price Index (CPI) may dampen interest rate expectations as the headline reading is expected to slow to an annualized 1.6% in September; need to see sticky core inflation to see a greater argument to normalize monetary policy sooner rather than later.
  • 10,869 (78.6% retracement) to 10,887 (61.8% retracement) remains in focus as the bearish RSI momentum remains in play, but lack of momentum to close below 10,950 (38.2% retracement) may highlight a near-term bottoming process.

Join DailyFX on Demand for Real-Time SSI Updates!

Click Here for the DailyFX Calendar

— Written by David Song, Currency Analyst

To contact David, e-mail dsong@dailyfx.com. Follow me on Twitter at @DavidJSong.

To be added to David’s e-mail distribution list, please follow this link.

Trade Alongsidethe DailyFX Team on DailyFX on Demand

Looking to use the DailyFX Trade Signals LIVE? Check out Mirror Trader.

New to FX? Watch this Video

Join us to discuss the outlook for the major currencies on the DailyFXForums

noimage

USD Attempts to Fight the Correction – Levels in EUR/USD, USD/JPY

Talking Points:

- Technical evidence of USD attempting to fight correction.

- Bulls in control if EURUSD sub-1.2615, USDJPY above 107.50.

- Euro Faces Economic Headwinds with Weakening German, Euro-Zone PMIs

The US Dollar may be facing new fundamental headwinds after last week’s FOMC minutes revealed that the Fed is concerned about the greenback’s recent appreciation. Nevertheless, with the broader USDOLLAR Index holding last week’s low, continuation in the correction has been hard to come by. Now there may be scant evidence emerging of the US Dollar trying to fight back.

Sparked by rumors that the ECB may begin buying corporate bonds as early as December, EURUSD’s slump to fresh daily lows will only truly gain interest to the short side if it were to breach $1.2615.

USDJPY’s comeback has been a bit more tentative with US yields having fallen off quite a bit, but the broad rally in US equity markets has lifted the once-quintessential carry pair. Whereas the S&P 500 needs to regain 1923/25 by week’s end, it would serve USDJPY well if the pair were to achieve ¥107.50 by Friday.

See the above video for technical considerations in all of the USD majors.

Read more: Be Selective in EUR Exposure, Pockets of Strength Found

— Written by Christopher Vecchio, Currency Strategist

To contact Christopher Vecchio, e-mail cvecchio@dailyfx.com

Follow him on Twitter at @CVecchioFX

To be added to Christopher’s e-mail distribution list, please fill out this form

noimage

Aussie Dollar Edges Higher on China GDP, Yen May Rise on US Data

Talking Points:

  • Aussie Dollar Edges Higher on Modestly Better Than Expected Chinese GDP
  • US Dollar, Yen May Rise if Upbeat Home Sales Data Fuels Fed Rates Outlook
  • PlaceEconomic Releases Directly on Your Charts with the DailyFX News App

The Australian Dollar narrowly outperformed in overnight trade, rising as much as 0.3 percent on average against its leading counterparts, following a narrowly better-than-expected Chinese GDP report. Output grew at a year-on-year rate of 7.3 percent compared with economists’ expectations of 7.2 percent. The outcome still amounted to the lowest reading since the post-crisis trough in the first quarter of 2009, painting a picture that is hardly encouraging as markets fret about slowing global performance.

A quiet economic calendar in European trading hours is likely to see traders looking ahead to US news-flow, where September’s Existing Home Sales data is in focus. A print at 5.10 million transactions is expected, marking a 1 percent increase from the prior month. US data outcomes have cautiously improved relative to expectations in recent weeks, which may suggest analysts are underestimating the vigor of the North American behemoth and opening the door for an upside surprise.

Such an outcome may help rebuild Fed rate hike expectations, boosting the US Dollar. Renewed bets on the relatively sooner onset of Fed tightening against a backdrop of swelling global slowdown fears may likewise undermine risk appetite amid fears that US growth will be insufficient to offset downturns in the Eurozone and China. That might put risk-geared currencies under pressure while boosting safety-linked alternatives like the Japanese Yen.

New to FX? START HERE!

Asia Session

European Session

Critical Levels

— Written by Ilya Spivak, Currency Strategist for DailyFX.com

To receive Ilya’s analysis directly via email, please SIGN UP HERE

Contact and follow Ilya on Twitter: @IlyaSpivak

noimage

Chinese Renminbi, Global Markets Await Chinese GDP

Talking Points:

  • Dollar Traders Keep Ear to Ground for Volatility Until Fed Meet
  • Chinese Renminbi, Global Markets Await Chinese GDP
  • Euro Sees Uneven Advance on News of QE Program Activity

Dollar Traders Keep Ear to Ground for Volatility Until Fed Meet

Though the US Dollar has opened the trading week lower, the market’s motivations are more likely a rebalancing in the face of anticipation of volatility rather than a fundamental shift in view for the currency itself. The Dow Jones FXCM Dollar Index (ticker = USDollar) slipped 0.3 percent Monday but holds within the past month’s range. Passing through a lull in the otherwise steady build in capital market activity and volatility readings, the currency has suffered the ills of a moderated interest rate forecast. A slowing global and domestic growth forecast, already-tepid inflation pressures further drained by tumbling energy prices and a persistent dovish effort from its major peers has significantly hobbled hawkish expectations for the Fed. St. Louis Fed President James Bullard pushed the market even further last week when he unexpectedly suggested the FOMC should pause its final Taper to the QE3 program expected next week. That said, the market seems to have significantly discounted the rate forecast already. With the December 2015 Fed Funds futures implying a 0.43 percent benchmark rate and December 2016 1.295 percent, there is a substantial discount to the bearish side.

What does a dovish view mean for the Greenback moving forward? It will be difficult to further drive the currency lower on downgraded policy views. It would simply offer validation. Alternatively, data or event risk that shakes the certainty of lower rates for an extended time would reinforce the Fed’s – yet unchanged – forecast for a mid-2015 first hike. Already offering a measure of doubt, normally dovish Boston Fed President Eric Rosengren remarked that recent market volatility is not in itself “a bad thing” and believed they were still on pace to end close out QE3 on October 29 (though it should be said, neither is a voter). Rate expectations have garnered greater influence over the Dollar and FX market, but only at the allowance of risk trends. Should the focus on volatility and volume continue to take front and center, the currency’s dalliance with rate forecasting will be abandoned quickly. And, there are plenty of sparks to watch for.

Chinese Renminbi, Global Markets Await Chinese GDP

Top event risk for Tuesday’s trading session – and arguably for the entire week – is the 3Q Chinese GDP release (due at 2:30 GMT). This is the pinnacle among a run of data that includes retail sales, industrial production and fixed assets. Consensus heading into the growth report is for the economy to further cool its pace of expansion to a 7.2 percent clip. That is a remarkable tempo when compared to the US, UK and Eurozone amongst other; but for China, it would represent the worst reading since 1Q 2009 – the height of the global financial crisis and recession. This slowdown is not particularly surprising for economists or market participants as the government is attempting to cool its pace in an effort to transition away from an unsustainable credit-born boom to a more durable consumption-derived growth. What makes this particularly troubling for markets though is that this economy will less effectively act as a counterbalance to another global slowdown.

Euro Sees Uneven Advance on News of QE Program Activity

A spokesperson confirmed that the European Central Bank (ECB) entered the market to purchase assets as part of the covered bond and ABS program adopted at the last meeting. The target and size of the effort is unknown, but media reports suggest the central bank bought short-term French and Spanish securities. This move signals the start of a QE-like program that draws some similarities to the Fed’s and BoJ’s efforts. Indeed, the Euro has tumbled in anticipation. Yet, it is the contrasts that may render this effort deficient. The ambiguity of the size, scope and schedule leave investors doubtful. And, if global and Eurozone slowdowns take hold, the ECB may not be able to manage.

Japanese Yen: Will Pension Fund’s Appetite Support Local Capital Markets, Currency?

The Nikkei 225 posted its biggest rally in 16 months Monday and the Yen crosses were broadly higher on the day. Beyond the general relief in volatility and boost in investor confidence, there was news that the country ‘s $1.2 trillion government pension fund (GPIF) would raise its exposure to domestic equities to 25 percent. Under ideal circumstances, that would stoke demand from investors wanting to front-run the heavy-handed buying and thereby rally the markets. However, this bid would not be enough to offset any global aversions to risk.

Aussie, Kiwi Dollars Climb on Unusual Yield Appetite

Over time, investors naturally favor higher return investments…so long as volatility does not swamp expected yield. Fear has proven the burden of high-yielding currencies like the Australian and New Zeland Dollars as of late. Yet, Monday, both staged the biggest rallies amongst the majors amid tentative risk appetite. Yet, a second day’s climb now depends on how sentiment reacts to the Chinese economic data.

Emerging Market Rebound Drained of Volume, Real and Ruble Still Tumbling

A great representative of risk trends, the MSCI Emerging Market ETF advanced 0.3 percent to start the week, but it did so on the weakest volume in two weeks. In other words, the bulls are not in control. Amongst currencies in the market class, most were higher against the USD on the day. Two notable exceptions were the Brazilian Real (down 1.2 percent) and Russian Ruble (0.8 percent lower) suffering their own troubles.

Gold Advance Slow but Futures Open Interest Hits 3 Month High, Net Long Spec Interest Jumps

How robust is the market’s confidence in gold? Last week, the COT reported net speculative futures interest rose for a third week – 29 percent to a net 85,415 contracts. At the same time, total open interest in the futures market for the precious metal is at its highest since July 22 (404,000). Yet, ETF holdings (a measure of market interest) are just off a 5-year low. It seems the metal is more inspired by USD than actual demand. **Bring the economic calendar to your charts with the DailyFX News App.

ECONOMIC DATA

GMT

Currency

Release

Survey

Previous

Comments

2:00

CNY

Gross Domestic Product s.a. (QoQ) (SEP)

1.8%

2.0%

A dense round of important event risk, the market will focus on 3Q GDP. China is actively trying to tame its pace of growth, which could leave the global economy further exposed to its own negative winds without the offset this economy offered back in 2008/2009.

2:00

CNY

Gross Domestic Product (YoY) (SEP)

7.2%

7.5%

2:00

CNY

Gross Domestic Product (YTD) (YoY) (SEP)

7.4%

7.4%

2:00

CNY

Fixed Assets ex Rural (YTD) (YoY) (SEP)

16.3%

16.5%

2:00

CNY

Retail Sales (YTD) (YoY) (SEP)

12.1%

12.1%

2:00

CNY

Retail Sales (YoY) (SEP)

11.7%

11.9%

2:00

CNY

Industrial Production (YTD) (YoY) (SEP)

8.4%

8.5%

2:00

CNY

Industrial Production (YoY) (SEP)

7.5%

6.9%

2:00

NZD

Credit Card Spending (MoM) SEP)

0.7%

This volatile reading is unlikely to affect global risk or RBNZ forecasts

2:00

NZD

Credit Card Spending (YoY) (SEP)

4.2%

4:30

JPY

All Industry Activity Index (MoM) (AUG)

-0.4%

-0.2%

A slowdown would further fears of Abe’s growth plan falling short

6:00

CHF

Trade Balance (Swiss franc) (SEP)

2.49B

1.39B

A jump in the surplus via a drop in imports would offer the SNB little relief. Officials are still concerned the high CHF is causing economic and inflation trouble

6:00

CHF

Exports (MoM) (SEP)

-0.7%

6:00

CHF

Imports (MoM) (SEP)

6.4%

7:00

CHF

Money Supply M3 (YoY) (SEP)

3.4%

8:30

GBP

Public Finances (PSNCR) (Pounds) (SEP)

9.4B

1.6B

Cyclical figures in public financing are expected to follow suit to past trends. Surprise here is unlikely to generate GBP volatility

8:30

GBP

Public Sector Net Borrowing (Pounds) (SEP)

10.1B

10.9B

8:30

GBP

Public Sector Net Borrowing- Government (NCR) (SEP)

3.1B

8:30

GBP

Public Sector Net Borrowing ex Banking Groups (SEP)

11.6B

9:00

EUR

Euro-Zone Government Debt-GDP Ratio (JUL 5)

92.6%

As EZ growth forecasts drop, budget targets are likely to ease

14:00

USD

Existing Home Sales (SEP)

5.10M

5.05M

Home sales slipped for the first time in five months in August

14:00

USD

Existing Home Sales (MoM) (SEP)

1.0%

-1.8%

23:00

AUD

Conference Board Leading Index (AUG)

0.5%

Leading indicators are unlikely to inspire the RBA, but that can undermine growth confidence

23:30

AUD

Westpac Leading Index (MoM) (SEP)

-0.1%

23:50

JPY

Adjusted Merchandise Trade Balance (Yen) (SEP)

-911.4B

-924.2B

The sharp decline in the value of the Yen has offered limited return in the form of rebalancing the long-standing trade deficit. USDJPY rose 5.3 percent in Sept though

23:50

JPY

Merchandise Trade Balance Total (Yen) (SEP)

-773.0B

-948.5B

23:50

JPY

Merchandise Trade Exports (YoY) (SEP)

6.5

-1.3

23:50

JPY

Merchandise Trade Imports (YoY) (SEP)

2.7

-1.5

SUPPORT AND RESISTANCE LEVELS

To see updated SUPPORT AND RESISTANCE LEVELS for the Majors, visit Technical Analysis Portal

To see updated PIVOT POINT LEVELS for the Majors and Crosses, visit our Pivot Point Table

CLASSIC SUPPORT AND RESISTANCE

INTRA-DAY PROBABILITY BANDS 18:00 GMT

v

— Written by: John Kicklighter, Chief Strategist for DailyFX.com

To contact John, email jkicklighter@dailyfx.com. Follow me on twitter at http://www.twitter.com/JohnKicklighter

Sign up for John’s email distribution list, here.