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UK Claimant Count Numbers October 15, 2014

ByBinary Options Strategy
Published 10/15/2014, 02:05 AM
Updated 05/14/2017, 06:45 AM
EUR/USD
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The session on Wednesday will focus on mainly the United Kingdom and the United States, so we are paying most of our attention to the FTSE and the S&P 500. However, the Claimant Count Change number coming out of the United Kingdom will be what we need to pay the most attention to in the early part of the day as it will without a doubt influence the FTSE.

Ultimately, we believe that a move above the top of the range during the session on Tuesday would send this market much higher, probably to the 6560 handle. Buying calls above the top of that break is how we are going to profit from this move. If we get more claimant count numbers, we would be very bearish of the FTSE, and start buying puts.

The EUR/USD pair continues to be a market that we are buying puts in. This is every time the market rallies and show signs of weakness, as we should in fact continue to go lower over the longer term. The 1.25 level below is massively supportive, so we think that short-term charts will be the way to go. However, if we finally do break down below the 1.25 level on a daily close, at that point time you can start to think about longer-term bearishness. Regardless, we do not believe that the Euro is something that we can buy at the moment.

That being said, we are also paying attention to the S&P 500, and we believe that the attempt to get above 1900 and finding resistance there tells us that the market is going to continue to sell off for a little while. Because of that, we are buyers of puts but we’re not expecting some type of massive meltdown.

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