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  1. #1
    Specialist Member TAllen1429's Avatar

    Daily Trading Tips by Terry - Wednesday 21st 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.
    The USA is scheduled to publish important economic data at 10.00 am EST. The FOMC minutes will also be released at 2.00pm EST.


    EUR/USD: After this pair rose on Tuesday to record a six month high, it has retracted overnight by dropping nearly 40 pips. The primary reason why the EUR/USD surged higher yesterday was supposedly European investors transferring their holdings from the struggling emerging markets to safer havens.

    The pair continued to fall this morning so that it is now probing its lower Bollinger Band. As the EUR/USD could extend its losses further today, sell this pair if price slumps beneath 1.3365. However, caution is advised as the release of the FOMC minutes at 2.00pm EST today could ignite high levels of volatility.


    USD/JPY: The US Dollar succeeded in stemming the losses it suffered at the hands of the Yen yesterday with the USD/JPY rallying by almost 15 pips this morning. This positive movement by the greenback was against the present trend as many investors are adopting a passive stance ahead of the FOMC event later today. They have been increasing their risk aversive attitude by fleeing to safe-haven currencies, such as the Yen.

    The USD/JPY rose this morning to challenge its upper Bollinger Band before being firmly rejected by that level. After undergoing a retraction in the last couple of hours, the pair has just rebounded higher against its middle Bollinger Band. Consider buying the USD/JPY if a sustained break above 97.80 can be accomplished.


    GOLD TRADING: The pending release of the FOMC minutes later today exerted pressure on this precious metal during the night. As soon as the commodity markets reopened earlier this morning, the price of gold instantly plummeted by almost $13 per oz.

    This dramatic descent lower caused bullion to start probing its lower Bollinger Band. After undergoing a rally within the last couple of hours to correct a heavily oversold status, gold is now presently heading lower again. As such, activate a PUT binary option, constructed on this commodity, if price slumps lower than $1,357.80 per oz.


    AUD/USD: The Australian dollar continued to weaken against the greenback further this morning exemplified by the AUD/USD extending its losses for the third consecutive day. The pair slumped by over 35 pips to test its lower Bollinger Band earlier this morning.

    Although the AUD/USD was firmly rejected by that level, further weakness now appears imminent. Consequently, look to open a PUT binary option using this pair as its underlying asset following a clean break below 0.8985.

  2. #2
    Specialist Member TAllen1429's Avatar
    Yesterday's Results

    A ‘CALL’ Binary Option was executed, based on the EUR/USD, with an opening price of 1.34105 (7.58am EST) which posted a closing value of 1.24347 at expiration (8.58 am EST) finishing 'in-the-money'.

  3. #3
    Specialist Member TAllen1429's Avatar
    Almost Time for the FOMC minutes. FOMC seems a great name for a rap band. Take it away Ben


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