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Oil Prices Test 50 Dollars

Oil Prices Test 50 Dollars

 

Binary.com Daily Financial Review May 26th 2016

Morning Report: 08.30 London

  • This morning, the dollar index is reversing, as pressure from oil prices push the Greenback lower. Oil prices tested $50 yesterday.
  • The USD/JPY continues to dance to the dollar’s tune, dropping back this morning.
  • The euro is performing well so far this morning after selling off yesterday despite better than expected German Ifo Business Climate.
  • The pound is lagging the euro, helping the EUR/GBP to lift higher.

Coming up today:

  • Coming up today we have UK second estimate GDP at 09.30, released alongside preliminary business investment data.
  • Then at 11.10, FOMC member Bullard speaks.
  • From 13.30, we get US core durable goods orders and unemployment claims.
  • Pending home sales then follow at 15.00.

Trade Idea:

  • The euro is on the rise this morning, but the general trend is still firmly negative. The renewed Greek bailout offers further uncertainty and this could put further pressure on the euro.

A good way to play this is a LOWER trade predicting that the EUR/USD closes below 1.1100 in 21 days for a potential return of 180%

oil prices test 50 dollars

Oil Prices Test 50 Dollars

 

N.B. This financial market report is intended for educational and information purposes only. It should not be construed as investment or financial advice and you should not rely on any of its content to make or refrain from making any investment decisions. The views expressed in this report are those of the author and do not necessarily reflect the views or position of Binary.com. Binary.com accepts no liability whatsoever for any losses incurred by users in their trading. Binary options trading may incur losses as well as gains.

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