AUD/USD
The AUD/USD traded after the Asian session at around 1.0514 and the currency pair is looking
very bullish targeting its next high at 1.0872 and then its highest high at 1.1102.
Yesterday many binary option traders awaited the trade balance publication from China. Trading
events again proved to be a crucial part of binary trading, and positive results from the Chinese
news made for successful end of day trades as well as next expiry trades.
China is the biggest importer for Australia’s good and as exports from Australia increase, so does
the AUD/USD. The spike directly corresponded to the event and was profitable for event traders.
Oil:
Oil closed yesterday at just above $93 a barrel, continuing to indicate that global growth is
potentially possible in the near term as two major bullish indicators are less valid today.
More QE from the fed is not likely after last Fed minutes and tension from the Middle East is
not as great as a few months ago. The next resistance at $95 a barrel could need another major
fundamental boost, but investors can expect a break of $91 a barrel in the short term
The oil inventory published yesterday provided event traders with yet another reason to smile as
inventories proved to be higher than expected. The price of oil dropped accordingly after
publication.