Data released from the US is mixed, ADP employment number of July increases 1.85 million, hitting a new low since April. July’s ISM Non-Manufacturing Index is 60.3, higher than the expected 56.2 and previous value of 56, hitting the ten-year high. Non USD currencies are expected to be bearish with a bullish prelude.
During the session today, Halifax House Price Index (MoM) of July will see light in Britain, with Industrial Production(June) and BoE’s Interest Rate Decision released in Britain. Initial Jobless Claims of first week of August will also see light in the US. With certain underlying assets performing actively when data see light, FX77 binary option analyst suggest grasping the opportunity to do short-term trading.
EUR/USD
The EUR/USD pair continues to show signs of bullish momentum, which provides us opportunity of buying call option on dips. Resistance is found at 1.0950/1.0980 and support at 1.0880/1.0850
USD/JPY
As the USD/JPY pair continues to bounce around with consolidation, we are buyers of call option on dips. Resistance is found at 125.00/125.30 and support at 124.50/124.20.
Since the GBP/USD pair has rallied with upward trend, we favor of buying call options. Resistance is found at 1.5650/1.5700 and support at 1.5600/1.5550.
[Tips]
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