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  1. British Pound is currently in long positive trend from bottom at 1.5390. After good data about Public Sector Net Borrowing price made sharp upside move. Expectations were that the value of indicator will be 13.2B but value shows at 12.4B. This is much better than data about July -1.9B. As you can see on four-hour chart below price of the currency pair continues to move above 15 and 25 EMA which signals for continuing the trend. Today cable made new fresh high at 1.6307 after break of the previous top at 1.6274. If the price closes the week clear above 1.6300, this will bring further rise to 1.7043 in long term. Next target of the upside momentum in short term is set at 1.6450 first 1.6570 after that. On downside first support could be projected around 1.6160. In case of break next support would be around 1.6070. Crucial for whole bullish trend is 1.5910. Break and daily close below that level would change scenario in the currency pair for downside. In long term, price movements from 1.3503 are treated as consolidation pattern of the long term down trend from 2.1161. There isn’t any change in this view. There are a lot of interpretations of the corrective movement from 1.3503 but before break of 1.5234 support more consolidation would continue. Source: binaryoption
  2. Today Binary GBP/USD increased around 40 pips in later European session. Cable moved slowly up before the opening of markets in United States. British pound topped the highest level since four days but several minutes after start of the American session cable dropper deeper. The accelerator of this fall was that Spain’s Prime Minister Mariano Rajoy said that his government would delay deciding whether to seek a sovereign bailout until the aid conditions are clear. Rajoy and French president Francois Hollande pressed the European Central Bank to implement decisions from a June to reduce borrowing costs in Spain and Italy as euro-area policy makers struggle to enact an emergency plan. British pound lose around 0.30% against the dollar and break below 1.5800. The support level that stopped the cable was 1.5780 for the moment. Break below this level could lead the price to next support levels around 1.5740 – 1.5750 witches are crucial for whole bullish trend from 1.5490. On upside first resistance is projected around previous support level 1.5810. Tomorrow all expectations are focused at the speech of Federal Reserve chairman Ben Bernanke in Jackson Hole that could take big effect on financial markets. Source: binaryoption
  3. A struggling euro hit a session low against the U.S. dollar and record lows against the Australian and Canadian dollars on Friday after Spain's Valencia region said it will seek central government help to repay its debts. The news intensified concerns that Spain, the euro zone's fourth largest economy, may not be able to avoid a full-blown international bailout, with 10-year yields trading above the 7 percent level that is seen as unsustainable. A statement saying euro zone finance ministers formally approved Spain's bank bailout failed to offset the gloom. The euro fell around 0.7 percent against the dollar to $1.2187, just above a two-year low of $1.2162 hit last week. "(Valencia) was clearly the catalyst. I'm slightly surprised the market has reacted as violently as it has, but I think that's a reflection of broader negative sentiment and stops being taken out once the move got going," said Adam Cole, global head of FX strategy at RBC Capital Markets. Earlier in the session the euro dipped on a German newspaper report that quoted a member of a party in the coalition government as saying euro zone countries should comply with agreed reforms or leave the bloc, traders said. The comments repeated the position taken earlier this year by the same lawmaker, Gerda Hasselfeldt, of the Bavarian Christian Social Union. The single currency hit record lows against the higher-yielding Australian dollar at A$1.1727 and the Canadian dollar at C$1.2305. Besides concerns about the euro zone's sovereign debt crisis, the euro has taken a hit since the European Central Bank lowered its deposit rate, which acts as the floor for euro zone money market rates, to zero earlier this month. Two-year bond yields have dipped into negative territory in core triple-A rated Germany and the Netherlands. The negative interest rates could prompt investors who are bearish on the euro's outlook to shift money elsewhere to secure some return on capital, market players said. "If you believe we have a long period of highly accommodative policy in Europe you might as well go on a search for yield elsewhere," said Simon Derrick, head of currency research at Bank of New York Mellon. reuters
  4. I am looking for a new broker to work with, and a couple of my acquaintances have recommended trying out forextrading.com Is this a smart decision?
  5. The Brazilian real on Monday strengthened past the level of 2 per dollar for the first time in over one month on expectations of additional central bank intervention, while the Mexican peso fell after unexpectedly weak U.S. manufacturing data. The real gained 1.0 percent to 1.9897 per dollar as investors took Brazil's strong currency interventions last week as a sign that policymakers will not allow the exchange rate to depreciate much further. Brazil's central bank last week eased rules on export prepayment and sold 180,000 currency swaps worth $9 billion in three auctions. While the first measure allows more dollars to flow into the country, the swap auction boosts the supply of greenbacks in the futures market. "The market today is reflecting what happened last week: the central bank intervened heavily with those three auctions, and that calmed markets down," said Joao Medeiros, a director at Pioneer brokerage in Sao Paulo. Medeiros added that the level of 1.9 reais per dollar could become the new ceiling for the currency if Europe's financial situation does not deteriorate further. In Mexico, however, the peso weakened 0.6 percent after economic data in the neighboring United States showed the manufacturing sector unexpectedly contracted in June, weighing on prospects for the Mexican economy. The United States accounts for most of Mexico's exports. The peso had been little changed early in the session after presidential front runner Enrique Pena Nieto claimed victory in Sunday's elections, as analysts said the recent optimism with the reforms he has pledged to carry on could vanish soon. "There are perhaps some early indications that the (election) result may fail to fully meet the market's greatest expectations," David Rees, emerging markets economist with London-based Capital Economics, wrote in a research note. He mentioned concerns that Pena Nieto's coalition could fall short of securing a majority in Congress when the full results of the elections are announced on Wednesday. "At best that could cause reforms to be watered down, at worst it could lead to a continuation of the political deadlock that has stalled reform during the PAN's twelve-year stint in the presidency," Rees added, referring to the political party of outgoing president Felipe Calderon. http://www.reuters.com/article/2012/07/02/markets-latam-forex-idUSL2E8I266A20120702?feedType=RSS&feedName=rbssEnergyNews&rpc=43
  6. SpotOption became the first binary options technology provider to receive CySec’s financial license and now it is running a free seminar for existing as well as new potential clients talking about the new regulations. With CySEC’s recent announcement of the regulating of binary options as financial instruments, SpotOption will be holding a seminar in order to inform clients and potential clients regarding the change in regulations. As SpotOption has upgraded its services to include not only software provision, but investment services as a financial institution, S.O. SpotOption can now offer their clients their regulated umbrella which allows them to work lawfully and in compliance with CySEC of Europe. As the only regulated market makers in the industry, SpotOption is holding this seminar with the intention of shedding light upon the regulatory standards, and the different choices that Binary Options operators have regarding obtaining their own license, or working under SpotOption’s license. The conference is co-sponsored by K. Treppides &Co Ltd, and Mr. Marios Cosma will discuss the different license options, license application process, and operational structure. A SpotOption representative will discuss how to work under the SpotOption’s license. Of course, there will also be a questions and answers session to ensure that all members of the conference are fully aware of their opportunities and choices. “The regulation of Binary Options is a great advancement for our industry,” says Pini Peter, Founder of SpotOption. “We’re proud to hold this conference, as leaders of the regulation process. This is also a gesture that we are here for our clients and potential clients every step of the way, and that their best interest of working safely, legitimately, and profitably is our main concern.” forexmagnates
  7. The dollar strengthened versus the euro after U.S. payrolls data disappointed Friday. U.S. May jobs came in at a very weak 69,000 increase, with a rise in the unemployment rate to 8.2%. The dollar slid below Y78 while the euro went below Y96, marking the euro's lowest level against the Japanese currency since November 2000. EUR/USD at 1.2330, according to EBS via CQG. The dollar is at Y78.07. The weakness in the U.S. economy is bound to spur talk of the Federal Reserve stepping in with its bond-buying program to boost the economy. This would, however, flood the economy with dollars and weaken it. wsj