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
USA is scheduled to release important economic data at 8.30am EST.

EUR/USD: The euro weakened for the fourth consecutive day during the night characterized by the EUR/USD slumping by over 30 pips. After trading a constricted range during the earlier part of today’s session, the pair then decisively broke below its middle Bollinger band in the last couple of hours and is now testing an important support level.

Currency analysts are presently predicting further euro weakness today if this key level can be broken with conviction. Consequently, open a PUT binary option using the EUR/USD as its underlying asset if price plummets beneath 1.2980.


USD/JPY: This pair enjoyed a calm start to the week after the forex market was reopened yesterday evening. However, the greenback has acquired a fresh bout of support in the last few hours enabling the USD/JPY to power upwards by over 80 pips.

The greenback now looks set to extend its gains against the Yen further today after the USD/JPY has broken above a key resistance level and its upper Bollinger Band in the last hour. Consider buying the USD/JPY if price can now surge above 100.35.


GOLD TRADING: After the precious metal had managed to rally last week following a recent dramatic bearish plunge, it continued to stabilize overnight. Gold did manage to undergo a minor rally to challenge its upper Bollinger Band before being assertively rejected by this level.

In the last hour, bullion has toyed with its middle Bollinger Band before rallying to recommence its course higher. If price can now sustain a clean break above $1,282.20 per oz, consider executing a CALL binary option based on this commodity.


AUD/USD: The Aussie came under pressure overnight following the release of Chinese data disclosing a slowdown in its economic growth, albeit at a slower rate than expected. The Australian economy always suffers if the Chinese economy begins to falter as its giant neighbor is its biggest exporter.

Subsequently, the AUD/USD slid lower this morning epitomized by the AUD/USD falling by just over 20 pips. The pair has probed its lower Bollinger Band in the last hour before undergoing a mild rally to climb out of badly oversold conditions. With further Aussie weakness now possible, sell the AUD/USD following an assertive drop below 0.9030.