Archive for binary trading

Binary Betting Trading – 10th February 2010

Wednesday, February 10th, 2010
euro vs dollar daily candle chart for binary betting

Binary betting opportunities yesterday were all about the non dollar and yen currencies as currency markets reversed direction lead by equity markets, as the markets welcomed the news of a possible bailout for Greece, reversing losses of the last few days. The euro in particular surged higher with its strongest rally in 2010 to date, with the euro vs dollar and euro vs yen the big winners. The good news was led by Germany which suggested that it might consider some form of financial bailout, but worries and concerns have now resurfaced with the ECB now suggesting that the IMF may need to intervene in order to prevent a collapse of the country. Indeed, Greece is not alone with the STUPID group ( Spain, Turkey,UK , Portugal, Ireland and Dubai) also looking weak, and any one of these could also add to the current crisis in due course. With such a powerful mix of fear and worry surging in the markets at present it will not take much to see sudden an unexpected volatility, and one currency in particular that will provide some binary betting opportunities in the short term is the euro vs dollar.

Technically of course the daily chart for the euro vs dollar is very bearish at present, and with deep resistance now immediately above we could see a further fall in due course following yesterday’s rally in the currency pair. I would therefore suggest a no touch bet above the 1.4050 price point, for the next 7 days.

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Binary Betting Today – 8th February 2010

Monday, February 8th, 2010

A quiet day on the Forex markets today for binary betting, with only two major items of news due for release today, namely the Swiss retail sales figures forecast at 1.3%, well up from last time at 0.6%, followed later in the day by the Canadian Housing Starts, which once again should be positive, with a forecast of 180,000 against a previous of 175,000. Following the Non Farm Payroll data of Friday, the US dollar continues to strengthen against most of the major currencies this morning, all of which have moved around 0.4% so far, and with the US dollar index continuing its recent climb, this trend looks set to continue in the short to medium term. For the euro the Sovereign debt problems in Europe remain at the top of the agenda as speculators and traders continue to consider the prospect of a default by either Greece or Portugal, with the euro continuing to falter as a result. In today’s thin news markets expect to see further volatility as a result as rumor and fear continue to drive the forex markets until these issues are clearly resolved.

With positive numbers expected for both the above news items, we can expect to see strength in both the Swiss franc and also the Canadian dollar, and these should present good binary betting trading opportunities today in the USD/CHF and USD to CAD.

What is the best platform for trading the financial markets?  In my view it’s Metatrader 4.  Download your free demo copy of the metatrader 4 software by clicking on the following link, download metatrader free, and get started today.

Binary Betting Tips – 1st February 2010

Monday, February 1st, 2010
pounds vs dollar daily candle chart for currency exchange rates

Pound vs Dollar - Daily Candle Chart 1st February 2010

The US stock markets closed last week with a heavy bout of selling with the most significant falls occurring on the Nasdaq 100, with some of the largest blue chip stocks such as Google, Apple and Microsoft being the biggest losers on the day. Apple stocks were under pressure all day following a less than enthusiastic response to the new Ipad, which received mixed reviews. For technical binary betting traders, the 1735 level looks to be a possible area of support and therefore I would suggest that this could be a good level for a No Touch trade in the next few days.

Moving to the forex markets, the biggest losers in the last few days have been the traditional carry trade currency pairs, which are now well off their peak levels of early January. For new currency traders, the carry trade involves trading a low yield currency, such as the Japanese yen ( or more recently the US dollar), against a higher yielding currency such as the Aussie dollar and New Zealand Dollar. Whilst the carry trade may appear to be a relatively low risk trade, in the last few months these speculative trades have become have become heavily oversold, with the currency traders leveraging positions ever higher – these positions are now starting to unwind quickly, with relatively small moves in the currency causing panic selling as a result. The net result is the Aussie dollar and New Zealand dollar have fallen sharply from their peak at the start of 2010.

For binary betting today, the UK pound is selling off heavily in the market as we approach the floor of the recent sideways consolidation, and should the 1.58 level be broken in the next few days, then this could signal the end of this trending channel with a deeper move lower possibly to retest the 1.55 or even 1.50 level in due course. My binary trading tip for today is to look for trading opportunities in the pound vs dollar as we break below the 1.58 price handle, which could happen later today.

What is the best platform for trading the financial markets?  In my view it’s Metatrader 4.  Download your free demo copy of the metatrader 4 software by clicking on the following link, download metatrader free, and get started today.

Binary Betting Tips – 23rd December 2009

Monday, January 4th, 2010

Including today, there are just two trading sessions to go before Christmas. Historically this period has been extremely positive for stock markets. Taking last night’s close as our entry point, the benchmark US index, the S&P 500 has closed higher at some point during the next 5 trading days 95.5% of the time! It will certainly be impressive if markets manage to rally once again this year because it means that indices such as the Dow Jones (Wall Street) will finally break out of the month long trading range. Switching to forex markets, the dollar was strong once again, especially against the British Pound (GBP/ USD) as traders reacted to the news that the UK is still in recession. The UK wasn’t the only faller though, with the Aussie and Kiwi dollars continuing their downwards trajectory (AUD/ USD & NZD/ USD).

This morning, markets are quiet as you would expect leading into the last serious trading session for the year. In early trading, the pound is under pressure again though, especially against the Japanese yen (GBP/ JPY).

What’s hot?

Betting against the British Pound: GBP/ USD & GBP/ JPY

Binary Betting  idea:

Including today, there are just two trading sessions to go before the holdiday period starts in earnest!. Historically these few days have often been extremely positive for stock markets with the so called Santa Clause rally. Taking last night’s close as our entry point, the benchmark US index, the S&P 500 has closed higher at some point during the next 5 trading days 95.5% of the time! It could therefore be a good period for some One Touch higher trades or Double (up) bets on the S&P 500.

Today’s market movers:

Today we have the release of the minutes from the last UK Bank of England Monitory Policy committee meeting. Analysts will be interested to see if there any hints as to a potential plan B if the quantitative easing plan fails to work as some are speculating. The day’s other standout announcement is US New Home sales at 15.00.

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Binary Betting Tips 8 Dec 2009

Tuesday, December 8th, 2009

With little fundamental news for the euro dollar the forex markets are concentrating on the Japanese Yen which has seen huge moves over the last 3 trading day.  The Yen has recovered Friday’s losses against the euro and sterling and is making a good fist of doing the same against the US dollar.  The EURJPY is down 0.7% and down 0.75% against the GBPJPY.  The dollar yen (USDJPY) is also down 0.75% but needs to fall by as much again in order to recover all of Friday’s losses.

Gold had a nervous day but positive day yesterday, ending the gold trading session with a deep hammer candle, rallying almost $25 giving gold bulls hope.   Although there is little fundamental news out today in the US (and thin trading volumes) we can still expect some volatile price action, particularly in the Dow which tends to cycle between big and small range days almost on a daily basis so it may be worth looking for breakout trades, with tight stops & taking quick profits.

Forex Pairs to Watch:

Yen Pairs:  USDJPY, GBPJPY & EURJPY – as BOJ (Bank of Japan) continues to battle to weaken its currency.

Market Moving News :

UK – Latest house prices from Halifax followed by manufacturing data.
Canada – Canadian Housing Starts & Interest Rate Statement – given better than expected Building Permits data yesterday any hint from the BOC (Bank of Canada) that rates have to rise could boost the Loonie – especially as Bernanke has reiterated stance having low interest rates in US.

Binary Betting Tips 3 Dec 2009

Thursday, December 3rd, 2009

With gold (where you can read my daily technical & fundamental analysis) stealing all the headlines as it surges ever higher reaching $1226 in early trading on the currency markets the BOJ’s bid to weaken the Yen appears to be working.  The Yen has been on the back foot these past few days and looks likely to continue today.  The Japanese currency is down 0.6% against the USD, 0.9% against sterling and almost 1% against the Aussie dollar.  Despite the dollar being weaker vs the euro & British Pound today’s action is definitely in the yen pairs.

Pairs to Watch:

Betting vs the Yen :  USDJPY, EURJPY, AUDJPY & GBPJPY
Betting  vs the USD : AUDUSD, GBPUSD & EURUSD

Binary Bet Tip:

With a number of major items of fundamental news out today including interest rate decision in Europe & ECB statement plus US unemployment claims, non manufacturing ISM & testimony from Ben Bernanke the focus will be on EURUSD (eurodollar technical & fundamental analysis)  which last week hit a 52 week high of 1.5145.  Could today give the pair the push it needs to go higher?

Potential Market Movers:

Aside from those already mentioned we also have UK services PMI and European Retail Sales.  As with yesterday’s ADP which came in worse than expected this afternoon’s unemployment claims which are forecast at -149k could come in worse than expected so expect a reaction in both the EURUSD & DOW.

Good luck & good trading.

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