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  1. #1
    Specialist Member TAllen1429's Avatar

    Daily Trading Tips by Terry - Friday 6th September !!!

    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 its LABOR REPORT at 8.30 am EST.

    EUR/USD: The euro proceeded to consolidated against the US Dollar overnight after plunging dramatically yesterday. Dovish comments released by the ECB on Thursday exerted considerable pressure on the single currency epitomized by the EUR/USD crashing to a 7 week low.

    Currency analysts are now predicting that the euro could extend its loss further as a direct result of the ECB asserting that it is prepared to cut interest rates lower in order to sustain a European economic recovery. However, the posting of the US labor report later this morning could dramatically alter this pair’s trading profile. Sell the EUR/USD if price breaks below 1.3090.


    USD/JPY: The Yen managed to stem five consecutive days of losses against the US Dollar overnight as demonstrated by the USD/JPY dropping by almost 60 pips to break below its psychological 100 level. However, if the release of the US labor report delivers a figure of 180,000 matching analysts’ expectations then such a result could prompt the Fed to commence tapering its massive $185 billion per month asset purchasing program at its September meeting.

    With nerves jiggling, still consider opening a PUT binary option structured on the USD/JPY if price slumps beneath 99.30. However, pay close attention to the release at 8.30am EST as it could be pivotal.


    GOLD TRADING: Concerns that the Fed is on the brink of slicing its massive financial support is exerting substantial pressure on the demand for gold. The price of the precious metal has subsequently plummeted recently so that it now resides at a two-week low.

    This commodity did manage to stem the serious losses that it suffered on Thursday by consolidating its position this morning. However, gold could crash again if the publication of the US labor report later this morning hits expectations. As such, implement a PUT option based on bullion if a sustained break below $1,365.80 per oz can be accomplished.


    GBP/USD: The British pound rallied against the greenback earlier during today’s session to challenge its upper Bollinger Band. However, after being firmly rejected by that level, the pair plunged downwards to test its lower band.

    The GBP came under pressure after a spate of economic data was published by the UK this morning disclosing indifferent results. After undergoing a corrective rally in the last hour, the GBP/USD now appears poised to weaken further. Sell this pair if price can break below 1.5555.

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

    A ‘CALL’ Binary Option was executed, based on the USD/JPY, with an opening price of 100.108 (9.57 am EST) which posted a closing value of 100.030 at expiration (10.57 am EST) finishing 'out-of-the-money'.

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