Weekly Top 5 Binary Options Analysis and Forecasts 03/03-07/2014

The Must Watch Top 5 Events of the Week

 

1. ECB President Mario Draghi Testifies

 03/03/2013 – Monday at 2:00 pm GMT

 

What will it affect: EUR, DAX

Forecast: no forecast is made for this type of event

Where to keep an eye on the event: CommuniTraders, Forex Factory, Bloomberg, Reuters, DailyFX

 

Why traders care and what to expect: The ECB President, Mario Draghi is scheduled to testify before the European Parliament’s Committee on Economic and Monetary Affairs. Depending on the specific topics discussed and his attitude, volatility could be experienced on all Euro related pairs. 

 

Directional bias: UP if the President has a hawkish attitude

                                  DOWN if the President has a dovish attitude

 

How I would trade this event: I would trade only if a clear direction is generated by his testimony.

 

 

 

2. Reserve Bank of Australia Interest Rate decision and Rate Statement

03/04/2013 – Tuesday at 3:30 am GMT

 

 

What will it affect: AUD, Australian stocks and indices

Forecast: no Interest Rate change is anticipated (2.50%)

Where to keep an eye on the event: CommuniTraders, Forex Factory, DailyFX, Bloomberg, Reuters

 

Why traders care and what to expect: The Rate Statement will reveal insights into the economic reasons which influenced the rate decision and will possibly offer hints about future rate changes. The Rate itself is often already priced in the market and that’s why the Statement which is focused on the future has more importance.   

 

Directional bias: UP if the Rate is increased or the Statement offers hints about future increases

                                  DOWN if the Rate is decreased or the Statement offers hints about future decreases

 

How I would trade this event: I don’t trade at the time of such events. If a clear direction is established, I would trade accordingly.

 

 

 

3. Bank of England Interest Rate decision

03/06/2013 – Thursday at 12:00 pm GMT

 

What will it affect: GBP, FTSE

Forecast: no change is anticipated from the current 0.50%

Where to keep an eye on the event: CommuniTraders, Forex Factory, DailyFX, Bloomberg, Reuters

 

Why traders care and what to expect: The Interest Rate is probably the biggest market mover for a currency and can generate strong trends. Although the Rate is not expected to change, the event will most likely generate a lot of volatility. A statement will be released only if a rate change occurs.

 

Directional bias: UP if the Rate is increased

                                  DOWN if the Rate is decreased

 

How I would trade this event: I do not trade at the time of such events.

 

 

 

4. ECB Interest Rate Decision and Press Conference

03/06/2013 – Thursday at 12:45 pm GMT (Conference starts at 1:30 pm GMT)

 

 What will it affect: EUR, DAX

Forecast: no change anticipated from the current 0.25%

Where to keep an eye on the event: CommuniTraders, Forex Factory, DailyFX, Bloomberg, Reuters

 

Why traders care and what to expect: Usually the Press Conference is the biggest market mover, creating more volatility than the rate decision itself. ECB President Mario Draghi will read a prepared statement and afterwards he will answer journalists’ questions. This Q&A session generates the strongest moves as traders try to interpret his answers and to find hints about future Euro direction. 

 

Directional bias: UP if the President is hawkish or the Rate is increased

                                  DOWN if the President is dovish or the Rate is decreased

 

How I would trade this event: I will only trade after the Conference is over, according to the established direction.

 

 

 

5. US Non Farm Payrolls

03/07/2013 – Friday at 1:30 pm GMT

 

What will it affect: USD, US stocks and indices

Forecast: 151K from the previous 113K

Where to keep an eye on the event: CommuniTraders, Forex Factory, Bloomberg, Reuters, DailyFX

 

Why traders care and what to expect: This is the most important report regarding the US jobs situation and shows the change in employment numbers, excluding the farming sector. A higher number of employed people is beneficial for the economy and also indicates that consumer spending is likely to increase in the near future.

 

Directional bias: UP if the actual number is higher than 151K

                                  DOWN if the actual number is lower than 151K

 

How I would trade this event: I would buy an hourly Put on EUR/USD and a Call on USD/JPY if the actual number will meet or surpass expectations.

 

 

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Note: The times, dates and values can change during the week. Also, different sources sometimes show different values. Keep an eye on the mentioned financial websites for any modifications

 

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