August 7th Binary Options Trading Opportunities

Nonfarm payroll: the only game in town

Today should be essentially about the US jobs numbers, as there really isn't too much out there to move the markets beyond that. Interestingly enough though, the Canadian numbers come out as well, so the real volatility might be found in the USD/CAD pair. We also think that there will be heavy influence on the stock markets, and perhaps commodities as well, especially the petroleum markets.

USD/CAD looking for support

The market pullback a little bit during the session on Thursday, but we think there will be buyers above the 1.30 level in the USD/CAD pair. On the other hand, if we get above the 1.32 handle, we would be call buyers there as well. We have noticed in buying puts in this marketplace, and any significant pullback will simply offer value over the longer term.

Chart 1

NASDAQ falls hard

The NASDAQ fell hard during the course of the session on Thursday, but somewhere in the region 4500 we should begin to see support again. Because of this, we are call buyers, especially if the jobs number out of America comes out more than 220,000. Ultimately, we have no interest in buying puts, and we are simply waiting for some type of supportive candle in order to start going long based upon exhaustion from the initial knee-jerk reaction.

Chart 2

Silver markets rally

Silver markets rallied a bit during the session on Thursday, but quite frankly we feel that the market will be stuck between the $14.40 level on the bottom, and the $15.00 level on the top. With this, we look at pullbacks as call buying opportunities for the short-term, and are especially interested in buying puts at higher levels as it goes with the longer-term trend.

Chart 3

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