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Daily Market Review 09/26/2012

A binary option trading is focused on down movements on Wednesday. Markets are going down from the opening of the Asian session. There aren’t so important economic events today that could effect on the direction of the markets. For the European economy the most important event for today is auction for the German ten year bonds. Binary options trades should be careful with the data for New Home Sales for August in United States. Economists predict that the economic indicator will rise to 381K from 372K for July. Another basic indicator that is scheduled for announcement today is the Crude Oil Inventories. Its shows change in the number of barrels of crude oil held in inventory by commercial firms during the past week and analyst expect that number will fall to 1.7M from 8.5M.

Asian shares declined in the last session as investors have fears that stimulus measures by Federal Reserve, Bank of Japan and European Central Bank won’t be enough to boost global economic grow. Other fears are coming from protest in Spain that underscored concerns about the country’s financing difficulties. Japan’s Nikkei 225 erased 184.84 points from its gain, which is 2.03% and currently is trading below 9000 points around 8906. TOPIX 500 Index also fell more than two percent with a 12.48 points loss. Toyota Motor and Honda Motor were among the companies trading ex-dividend, down by 2.67 percent and 4.17 percent. European shares fell yesterday and analyst predict that the decline will continue today around police and anti-austerity protesters clash in Spain. German DAX Index opened down today and the index is trading below 7400. French CAC 40 Index also started the session with loss and the trading is situated around down border of the range. British FTSE 100 continues to fall and binary options on that underline asset are available around 5790.

American shares closed in red yesterday for third day this week. The broad American index S&P 500 made its worst day in three months as concerns about growth of global economy. Binary options on S&P finished at 1441.59 with loss of 1.05 percent. Dow Jones Industrial Average slumped 101.37, or 0.75 percent, to end at 13457.55. NASDAQ Composite dropped 43.05 points, or 1.36 percent and close the day at 3117.73. Shares of Apple made sharp drop and closed the day at 673.54 or 2.50 percent loss. Facebook also declined more than 2 percent and finished the day at 20.2800. Crude Oil broke below bottom of previous week and today is trading below $91 a barrel. Precious metals Gold and Silver are continuing to trade in range. Binary Gold is around $1760 an ounce and Binary Silver is available around 33.90.

Binary options on EUR/USD are continuing to fall. Today. trading of the currency pair is situated below 1.2900. On four-hour chart the decline from 1.3172 looks as a corrective pattern for whole up from 1.2040. The bullish momentum is still intact and further upside rally is expected. For continuing the trend, price must break above psychological 1.3000 first and 1.3172 after that. In case of break of the last next resistance will be at 1.3270 followed 1.3370. On the downside, the fist intraday support could be projected at 1.2852. Next support could be set at 1.2820. Only break of 1.2750 will change sentiments of traders to neutral. Only a break and a daily close below 1.2650 would switch outlook from bullish to bearish.

S&P 500
Broad American index broke below downside border of the range and the trading is neutral for now. Further corrective movement is expected. In medium term the trend is neutral, but general trend will continue soon. The first intraday resistance could be projected at the previous support 1443. In case of a break and a daily close above that level next target for the price would be 1474. On the downside, the first intraday support will be at 1420. Only a break and a close below 1390 support level could change scenario to bearish. Until this level holds the upside momentum will be actual.

Crude oil
Crude oil broke below the bottom 90.95 earlier this morning and next target for future decline is psychological $90 a barrel. Further decline is expected. In case of break below $90 price would trigger to $85. On the upside, the first resistance is at 94.40. Only a break and a daily close above 97.40 would change scenario from negative to positive.