Gold Futures to Take a Big Hit
Trade of the Day
Gold going lower this morning
Gold has been declining since the beginning of this morning’s trading session. Traders did buy into gold for much of last week, but the gains have not been extended into this morning’s trading session. The gold binary option was very weak earlier on the much weaker greenback. However, with the greenback starting to go bearish, this has not helped gold enough. Traders should be very cautious while trading the gold binary option if they want to make some very high returns.
USD going lower
There has been a lot of weakness when speaking of the U.S. dollar recently. The GBP/USD pair is trading higher by 0.04% at $1.6486. The AUD/USD has declined 0.08% at 88.62 U.S. cents. Traders were very bullish on the greenback in early morning trading. Investors have decided that it is worth it for them to start selling the USD. Traders may want to start selling the greenback once they get a free chance.
EUR to go higher today
The euro was much lower a few hours ago, as traders were simply not in the mood to take some big risks. However, the situation in the currency market has since changed. The EUR/USD pair is trading higher at the moment. This was not the case a few hours ago. This just shows that the situation in the forex market can change very quickly. The European single currency has been backed by the improving Eurozone. It may be that the euro will build on its current gains.
Much strength for the pound today
The pound sterling has been very strong since the markets opened this morning. The only thing is that its gains versus the euro were cut in the past hour or so. The pound sterling is in high demand due to the improving British economy. As each week goes by, the British economy keeps improving. There will be some economic data in the hours ahead. Investors will want to go bullish on the GBP/USD pair to make maximum returns.
JPY just goes lower and lower
The yen has been going lower since trading began this Monday morning, with the Bank of Japan putting more and more money into the nation’s economy. With Asian stocks going much higher, thus has led to more bullish sentiment in the forex market. The euro is starting to gain a lot of ground versus the yen to. Taking all of this into account, then start looking into selling the yen during Monday’s trading session.
Asian stocks go higher despite losses for U.S. stocks
There were losses with regards to American stocks at the end of last week. This was in spite of the gains which we saw for most of it. Asian equities have been able to gain this morning even though there were losses for American stocks on Friday.
The good news is that there is a lot of bullish sentiment with traders in the financial markets at the moment. As a result, you will want to look into opening Call options in leading American stocks and indices in afternoon trading.
Gold very weak right now
Gold futures have been trading lower after making some very important gains last week. In fact it may slide below the $1200.00 mark within the next day or so. This means you may want to go short on gold to make a lot of profit prior to 2014. However, make sure you understand the high amount of volatility in the commodities market today.