Yesterday PMI data from Eurozone acted positively, with a manufacturing MPI(July)of 52.4, better than expected 52.2. Manufacturing steps are accelerating in Germany, France and Italy, but with negative factors from Greek stock, EUR is expected to be encumbered by Greek issue.
During the session today, Construction PMI(July) will see light in Britain, with PPI(YoY)(June) released in Eurozone. The US is schemed to release its Factory Orders(June) at 22:00. 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 has bounced around with upward trend, which provides us opportunity of buying call options on dips. Resistance is found at 1.1000/1.1050 and support at 1.0930/1.0900.
USD/JPY
Since the USD/JPY pair continues to bounce around with consolidation, we favor of buying put option. Resistance is found at 124.30/124.60 and support at 123.60/123.30.
GBP/USD
The GBP/USD pair has shown a sign of bullish momentum, so we are buyers of call option on dips. Resistance is found at 1.5660/1.5700 and support at 1.5560/1.5530.
[Tips]
All the information mentioned above is for reference only. FX77 Option team will keep an eye on the market and set the trading strategies specifically. If you are looking for more real-time signal-providing services and investment instructions, please follow us.