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  1. #1
    Specialist Member TAllen1429's Avatar

    Daily Trading Tips by Terry - Thursday 25th 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
    USA is scheduled to post important economic data at 8.30 am EST.


    EUR/USD: The pair has practically trended water overnight by currently posting a value very close to its opening price of yesterday evening. However, this apparently anemic performance disguises significant surges both higher and lower that have occurred this morning. The EUR/USD initially raced upwards to test its upper Bollinger Band before being emphatically rejected by that level.

    A significant plunge then ensued resulting in the pair rebounding assertively from its lower Bollinger Band in the last couple of hours. As an encouraging German survey is presently providing fresh support for the euro, initiate a CALL binary option based on the EUR/USD following a decisive break above 1.3220.


    USD/JPY: The Yen pared its yesterday’s losses during the night epitomized by this pair slumping over 55 pips. After falling dramatically to challenge its lower Bollinger Band during the early part of today’s session, the USD/JPY has since undergone a mild rally in order to correct an oversold status.

    However, with the pair now acquiring fresh downward impetus, consider executing a PUT binary option by utilizing the USD/JPY as its fundamental asset if price can attain a clean break beneath 99.60.


    GOLD TRADING: This precious metal extended the losses that it suffered on Wednesday by immediately plummeting nearly $10 per oz when the commodity markets reopened earlier this morning.

    The price of gold plunged initially to probe its lower Bollinger Band before rallying in order to correct oversold conditions. However, this rebounding action has been performed with little conviction resulting in bullion now setting its eyes lower. Consequently, sell gold on a decisive slump below $1,307.80 per oz.


    GBP/USD: The UK published its GDP figure this morning disclosing that its economy had grown during the second quarter of 2013 in line with expectations. However, this encouraging result was not sufficient to counter the gloom generated by depressing Chinese growth prospects.

    After rising assertively earlier this morning, the GBP/USD crashed dramatically following the GDP publication by plunging over 100 pips. Although the pair is presently undergoing a minor rally by rebounding against its lower Bollinger Band, the British pound now looks vulnerable to further weakness. Sell the GBP/USD if price plummets below 1.5260.

  2. #2
    Specialist Member LesterK's Avatar
    Very mixed trading with no clear direction on all the markets. Especially EUR/USD and GBP/USD. Gold rebounds little bit after the initial crash this morning and the stock indexes are also down with a little upside correction after that. The markets are mostly ranging and this is the reason they fade after every impulsive move looking like a clear break out entry point.

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