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  1. #1
    Specialist Member TAllen1429's Avatar

    Daily Trading Tips by Terry - Monday 5th August !!!

    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


    EUR/USD: Despite the Eurozone printing a better-than-expected PMI service figure this morning, the pair is still having trouble sustaining a confirmed break above 1.3300.

    The EUR/USD rose initially overnight to challenge its upper Bollinger Band before being promptly rejected by that level. The pair subsequently retracted and is presently toying with its middle Bollinger Band. If this level remains intact, open a CALL binary option based on the EUR/USD if price surges above 1.3305.


    USD/JPY: The greenback extended the losses against the Yen that it suffered last Friday by slumping just over 50 pips this morning. The pair has just broken beneath an importance support level within the last couple of hours.

    Investors have opted to support the ultra-safe Japanese currency since the publication of a disappointing US labor report last Friday. With further US dollar weakness looming, sell this pair following a sustain break beneath 98.10.


    GOLD TRADING: This commodity has quietly traded a constricted range overnight by consolidating the gains it acquired last Friday amid fresh concerns about the US labor market. In addition, Gold has benefited from a new bout of US dollar weakness.

    The precious metal has spent the night oscillating about its middle Bollinger Band. As renewed doubts about the health of the US economy should generate new support for gold this week, buy this commodity if price breaks above $1,313.20 per oz.


    GBP/USD: The British pound strengthened for the second consecutive day against the US dollar by surging over 60 pips overnight. Sterling received a boost this morning after the United Kingdom published its PMI service figure which surpassed analysts’ expectations.

    Subsequently, the GBP/USD surged higher to break above a key resistance level before undergoing a mild retraction in order to correct an overbought status. With the British pound now expected to extend its gains further, initiate a new CALL binary option using this pair as its underlying asset following a decisive break above 1.5400.

  2. #2
    Specialist Member TAllen1429's Avatar
    How I see the week ahead.

    Analysts are anticipating that the markets could well take a breather this week now that the US Labor Report for July has been published and that the US corporate earning seasons is coming to a close. They are expecting stocks to range trade within a well constricted channel following the historic highs recorded by the Dow Jones Industrial Average and the S&P 500 last week. These two US major indices have surged higher by nearly 20% already during 2013.

    Investors will focus their attention over the coming days on attempting to determine the reactions of the Fed to last Friday’s lukewarm jobs report. For instance, will the central bank now adopt a more passive attitude by keeping its quantitative easing programs intact for longer than previously expected?

    Consequently, speeches scheduled by key Fed committee members during this week will now attain greater levels of importance. Richard Fisher, the president of the Dallas Federal Reserve Bank, will talk about the US economy on Monday followed by Charles Evans, the head of the Chicago Federal Reserve Bank, speaking at a breakfast press conference on Tuesday.

    The USA will also post some important economic indicators this week. Specifically, the Institute of Supply Management will publish is service sector report on Monday followed by the release of key trade details for June on Tuesday. The weekly jobless claims figure will be issued on Thursday which could generate fresh insights into the state of the US Labor market.

    With the end of the US corporate earnings season coming rapidly into view, a number of important companies are still scheduled to publish their financial reports this week. In particular, CVS Caremark will release its second quarter figures on Tuesday. MacDonald’s will then report on Thursday together with Dean Food Co., the US leading dairy suppler.

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