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  1. #1
    Specialist Member TAllen1429's Avatar

    Daily Trading Tips by Terry - Tuesday 20th 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 growing speculation that the Fed will soon trim its influential stimulus measures, the US Dollar weakened against most of the major currencies overnight. This festering situation was epitomized by the EUR/USD surging over 40 pips this morning. Initially the pair weakened during the earlier part of today’s session by crashing to test its lower Bollinger Band.

    However, a strong rally then ensued resulting in the EUR/USD soaring higher to challenge its upper Bollinger Band before undergoing a mild retraction in order to correct overbought conditions. With the greenback now expected to extend its losses today, buy the EUR/USD if a decisive break above 1.3410 can be accomplished.


    USD/JPY: The emerging markets continued to experience high levels of volatility overnight encouraging investors to flee to the sanctuary of the ultra-safe Yen. Consequently, the Japanese currency strengthened against the US Dollar this morning as demonstrated by the USD/JPY sliding lower by just over 30 pips.

    The pair plunged to probe its lower Bollinger Band before being rebuffed by this level. After rallying and then rebounding against its middle Bollinger Band, the USD/JPY is now proceeding lower. Consequently, consider initiating a new PUT binary option using this pair as its underlying asset following an assertive break beneath 96.90.


    GOLD TRADING: This commodity continued to consolidate its position overnight after it reversed three days of consecutive gains on Monday by slipping lower from a two month high. The price of this precious metal immediately slumped by over $5 per ounce when the commodity markets recommenced business this morning.

    However, after firmly bouncing against its lower Bollinger Band, gold recovered its posture by rallying higher. An assertive rejection by its upper Bollinger Band within the last couple of hours now sees bullion heading lower once more. As such, sell this commodity if a sustained break below $1,360.80 per oz can be achieved.


    AUD/USD: The Aussie suffered overnight by extended the substantial losses it endured on Monday. The pair plummeted by over 60 pips this morning after the publication of the minutes from the latest meeting of the Royal Bank of Australia disclosed a decisively dovish tone.

    The AUD/USD plunged this morning to test its lower Bollinger Band by cleanly breaking beneath a key support level. Although the pair has rallied in the last couple of hours to correct heavily oversold conditions, the AUD/USD is now heading lower again. Open a PUT binary option based on this pair if a decisive break below 0.9020 can now be attained.

  2. #2
    Rookie Member Daveman's Avatar
    The markets are waiting for the next piece of economic data. It will come soon after the release of the Home Sales tomorrow and FOMC minutes soon after that. This will bring an interesting situation which could lead to market reevaluation.

    For the moment it seems the expectations are for US monetary policy tightening and that lead to dollar depreciation against all the major currencies, precious metals too and decline in the stock indexes. What do you think Terry? Am I right in my prediction?

  3. #3
    Specialist Member TAllen1429's Avatar
    Quote Originally Posted by Daveman View Post
    The markets are waiting for the next piece of economic data. It will come soon after the release of the Home Sales tomorrow and FOMC minutes soon after that. This will bring an interesting situation which could lead to market reevaluation.

    For the moment it seems the expectations are for US monetary policy tightening and that lead to dollar depreciation against all the major currencies, precious metals too and decline in the stock indexes. What do you think Terry? Am I right in my prediction?
    hi Daveman,

    Yes, tomorrow should be very interesting when the FOMC minutes are released. If the Fed indicates in anyway that it intends to start trimming back its massive asset purchasing program in the next couple of months, then I think that the stock markets will sell-off sharply and that the US dollar will rise against most other major currencies.

  4. #4
    Legendry Member milos's Avatar
    In the absence of fundamentals there is some speculation that the Fed will soon begin to reduce the program of monetary easing. The market is eagerly awaiting tomorrow's publication of notes from the last Fed meeting that could provide a more accurate picture of the attitude of members of the Monetary Committee in this issue.

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