Binary Options On Precious Metals Seeing A Pop
Binary options on precious metals are seeing a pop today after the ADP report showed employers added fewer jobs than expected. Gold is rallying back up through $1300 and silver is touching $22.
Binary options traders need to pay close attention to the data and monitor the latest news releases. Binary options are short-term trading vehicles where sentiment changes on a dime. The next big data point that traders will be watching is Friday’s non-farm payroll report. The ADP report is usually a harbinger, or indicator, of how Friday’s report may look like. Remember binary options traders, the weak labor market is keeping the Fed from tapering. As long as there’s no sign of the Fed tapering, trading binary options in precious metals will have a bid and the U.S. dollar will remain weak. Again, binary options traders, precious metals and the dollar have an inverse relationship. They never go in the same direction. They’re great pair trades for a winning binary options strategy.
The strength in the binary options precious metals market is giving crude oil a boost as well. Binary options on crude oil held the $101 level. Crude has been a great short after running into the wall at $110 and President Obama chickened out on attacking Syria. No war, no war premium in crude oil.
For binary options on U.S. stocks, I’m bearish on the S&P 500. Government shut down and debt ceiling is a prescription for lower prices. The commentators can spin it anyway they want. It’s bad for the U.S. The only binary options I like on U.S. stocks right now is Apple calls. Billionaire Icahn has a dialogue with Apple CEO Tim Cook and that’s bullish. I see the buyback increasing and the stock price heading higher and putting binary options traders in the money on their calls.
For me though, I’m staying on the sidelines until 830am EDT on Friday when the non-farm payrolls report is released. I love trading that report in my binary options account. The moves happen fast and the market trends for the first hour after the report is released. A great time to trade 60 second binary options.
I’ll be back posting tomorrow with the latest data releases and their times. Remember to always protect your winnings and preserve capital, check out our broker recommendations and find out the latest bonuses and promotions.
