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  1. #1
    Specialist Member TAllen1429's Avatar

    Daily Trading Tips by Terry - Tuesday 6th 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
    The USA is scheduled to publish important economic data at 8.30am EST.


    EUR/USD: This pair initially slumped during the night to test its lower Bollinger Band. However, the release of better-than-expected economic data from Germany suggesting that the Eurozone could now be emerging from its economic recession helped the EUR/USD reverse its fortunes by propelling it higher.

    The pair subsequently surged above its upper Bollinger Band before being firmly rebuffed by a key resistance level. After correcting an overbought status in the last couple of hours, the EUR/USD now looks poised to continue its path upwards. As such, open a CALL binary option constructed on this pair if price breaks above 1.3300.


    USD/JPY: The US dollar succeeded in stemming the losses that it endured against the Yen yesterday by trading a well-defined horizontal channel during the night. For instance, the pair initially dropped to probe a key support level during the earlier part of today’s session before rallying strongly to test its upper Bollinger Band.

    After being assertively repelled by that level, the USD/JPY then retracted so that it is presently hovering about its middle Bollinger Band. As currency specialists are advising that the greenback could experience further weakness today, sell this pair following a confirmed break beneath 97.80.


    GOLD TRADING: This precious metal fell for the second consecutive day by immediately plunging nearly 40 pips as soon as the commodity markets reopened this morning. Bullion crashed beneath its psychologically important $1,300.00 per ounce level to challenge its lower Bollinger Band before undergoing a minor rally in order to correct an oversold status.

    After rebounding against its new resistance level, bullion has now set its sights on heading lower. As such, execute a PUT binary option using gold as its underlying asset if price can achieve a decisive break below $1,287.20


    AUD/USD: Despite the Australian central bank slashing its interest rate by 25 basis points overnight, the Aussie still managed to rally to challenge its upper Bollinger Band. However, this pair has since retracted in the last couple of hours in order to correct a heavily overbought status.

    The AUD/USD is currently playing with its middle Bollinger Band. If this level holds, then buy the pair following a sustained break above 0.9020.

  2. #2
    Specialist Member TAllen1429's Avatar
    Results of above Tips.

    A ‘CALL’ Binary Option was executed, based on the EUR/USD, with an opening price of 1.3001 (10.07 am EST) which posted a closing value of 1.3008 at expiration (11.07 am EST) finishing 'in-the-money'.

    A ‘PUT’ Binary Option was executed, based on the USD/JPY, with an opening price of 97.805 (10.28 am EST) which posted a closing value of 97.784 at expiration (11.28 am EST) finishing 'in-the-money'.

    A ‘PUT’ Binary Option was executed, based on Gold, with an opening price of $1,288.10 (8.10 am EST) which posted a closing value of $1,286.15 at expiration (9.10 am EST) finishing 'in-the-money'.

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