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  1. #1
    Specialist Member TAllen1429's Avatar

    Daily Trading Tips by Terry - Wednesday 3rd July !!!

    Recommendations:

    Use an expiry time of 1 hour plus.
    Risk no more than 2% of your account balance.
    Tips are tradable until 4.00pm EST today.
    Trade just one Tip at a time
    Major US economic data is scheduled for release at 8.15am and 8.30am EST.


    EUR/USD: The pair initially crashed by over 50 pips overnight before being firmly rejected by a major support level. The single currency has since rallied sharply against the US Dollar so that it is presently challenging its middle Bollinger Band.

    However, political worries about Portugal and concerns that Greece can successfully meet vitally important bailout deadlines are expected to pressurize the euro today. Consequently, consider initiating a PUT binary option structured on the EUR/USD if price can achieved a clean break below 1.2925.


    USD/JPY: The Yen acquired significant support against the US Dollar earlier this morning epitomized by the pair plummeting by over 120 pips causing it to plunge beneath its psychologically important 100.00 level in the process. Additional weakness arose after the USD/JPY crashed below a key support level within the last couple of hours.

    As analysts are now predicting that the ultra-safe Yen should strengthen further against the greenback today, look to sell this pair on a sustained break below 99.20.


    GOLD TRADING: The precious metal traded a constricted range during the night. However, the looming intentions of the Fed to curtail its market dominating monetary easing policies in the imminent future are presently causing bullion to lose its hedging appeal against inflation.

    Consequently, as gold is now expected to weaken further over the coming days, execute a binary option using this commodity as its underlying asset if price can decisively plunge beneath $1,244.80 per oz.


    GBP/USD: The British pound reversed its bearish fortunes against the US Dollar this morning by surging almost 100 pips. The pair has just assertively broken above an important resistance level and appears poised to now climb higher.

    Consequently, consider buying the GBP/USD if it can positively break above 1.5280.

  2. #2
    Specialist Member TAllen1429's Avatar
    GBP/USD tip has just been activated.

    Direction: CALL at 8.52 am EST
    Opening Price: 1.52759
    Expiry Time: 1 hour
    Payout Ratio: 80%
    Wagered: 2% of equity

  3. #3
    Senior Member dorrian's Avatar
    Thank you Terry for the tips! Detailed as always. The too many news data this week will affect for sure all the markets. The British pound was the big surprise.
    It climbed also against the euro not only against the us dollar, which is really interesting! I am mostly bullish on Euro too, so I will disagree with you Terry on that trade I will buy a call if it climbed above 1.30. I am neutral on Gold and USD/JPY is too tricky to trade these days so I will leave it for better times.

  4. #4
    Specialist Member TAllen1429's Avatar
    The GBP/USD plunge shortly after the trade was opened producing an eventual 'out-of-the-money' result. The pair has recovered since the release of the US ISM data at 100am EST although to late for my trade.

  5. #5
    Specialist Member TAllen1429's Avatar
    Quote Originally Posted by dorrian View Post
    Thank you Terry for the tips! Detailed as always. The too many news data this week will affect for sure all the markets. The British pound was the big surprise.
    It climbed also against the euro not only against the us dollar, which is really interesting! I am mostly bullish on Euro too, so I will disagree with you Terry on that trade I will buy a call if it climbed above 1.30. I am neutral on Gold and USD/JPY is too tricky to trade these days so I will leave it for better times.
    Thanks for your interesting comments, Dorrian. I try and select entry points for the tips by allowing the markets to choose which way they want to move.

  6. #6
    Legendry Member milos's Avatar
    The British pound rose 0.76% against the US dollar supported by good economic data.The services sector in the UK has achieved the highest increase since March 2011.which returned optimism about the recovery of British economy.Economists believe that good economic data indicate GDP growth in the second quarter.

  7. #7
    Specialist Member TAllen1429's Avatar
    Quote Originally Posted by milos View Post
    The British pound rose 0.76% against the US dollar supported by good economic data.The services sector in the UK has achieved the highest increase since March 2011.which returned optimism about the recovery of British economy.Economists believe that good economic data indicate GDP growth in the second quarter.
    That could account for the 150 pip surge higher today by the GBP/USD.

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