Archive for forex charts

Binary Betting – Equities & Forex Markets Fall

Thursday, February 4th, 2010
NZD/USD daily forex chart

This afternoon’s higher than expected US Unemployment numbers which came in at 480,000 against a forecast f 461,000, have triggered further selling in both the global equity and forex markets, with commodities also suffering as a result.  In late afternoon trading both gold price and crude oil were sharply lower, breaching various key technical levels as a result, mirroring the FTSE100 and DOW 30 which were also marked lower as a result. On the forex markets the two biggest losers were the Aussie dollar and the New Zealand dollar, both of which have been under pressure since the turn of the year, as speculators bale out of the carry trade and panic sell the currencies as a result. In binary trading today we saw the NZD/USD currency pair break below the key 0.70 level, and as  s result now offers excellent longer term trading opportunities for binary betting on the short side of the market. With strong potential resistance now above, we have a deep and sustained areas of price congestion, which should prevent any short term pullback from gathering momentum. My suggestion is to therefore look for no touch and barrier trades moving forward based on this technical break.

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 – 4th February 2010

Thursday, February 4th, 2010
Daily Candle Chart - NZD/USD Trading Analsysis

Candle Chart Analysis - NZD./USD Daily Chart

A relatively quiet start to trading this morning for binary betting ahead of today’s busy economic calendar, and in the forex markets there is a sustained and clear move away from the high yielding currencies of New Zealand and Australia. In early trading today the New Zealand Dollar vs US dollar pair is down by 0,75% whilst the Aussie dollar agains the Japanese Yen has fallen by 0.5%. The Aussie dollar came under further pressure today with the release of the retail sales figures which came in worse than expected at -0.7% against a forecast of +0.3%. At the same time the New Zealand Dollar fell following release of the Unemployment figures which came in higher then expected at 7.3% against a forecast of 6.8%.

With sentiment now turning against these high yielding currencies as the carry trade speculators begin to panic and sell off in ever larger volumes, today will be seminal for the NZD/USD currency pair, as technically the pair are balancing on the edge of support in the 0.70 price point. With the level of news today this could trigger a break below, providing several binary betting opportunities as a result, and for fixed odds trading I would suggest a double down bet as the best trading strategy for today. Longer term, if this support region is penetrated then a no touch bet at this level would then be the appropriate binary betting strategy.

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 – Binary Trade 11th September 2009

Friday, September 11th, 2009
Pound vs Yen - GBP/JPY Daily Forex Chart

Pound vs Yen - GBP/JPY Daily Forex Chart

It’s been a very good start to the day for European stock markets with the FTSE, CAC and DAX all up by around 0.6%. Yesterday the S&P 500 and tech heavy Nasdaq 100 smashed through resistance to record their highest levels for the year. Yesterday the FTSE 100 failed to hold the 5000 level but the overnight sentiment from the US is helping to fuel another surge higher. Today’s standout economic announcement is UK PPI at 08.30 GMT with a number of middle tier US economic announcements to follow in the afternoon.

Binary Betting Trading Strategy

Perhaps it’s another sign of the effects of the credit crunch easing, but in the last few days, the dollar and yen have diverged significantly. Throughout the crisis and until recently, both the yen and the dollar were a good proxy for risk appetite with currencies such as the euro falling against both when investors become nervous. Now the yen has broken out of this pattern and is surging higher while the dollar is experiencing weakness. The dollar is down nearly 1% against the yen but for all the headlines about the weak dollar, it’s moves against other currencies has been less severe. Today’s move on the USD/JPY is all about the yen with the Japanese currency gaining by at least 0.7% against virtually every other major currency.

The GBP/JPY has been relatively range bound for most of the week and today’s fall is bringing the pair towards the bottom of this range around 151.35. This makes the GBP/JPY today’s pair in play. The best way to play it, may be to wait for the price to get closer to the 151.35 level and make a double (up) trade predicting that the GBP/JPY will rise. Then yen is strong today, but the pound is holding up well against most other currencies so any downside for the GBP/JPY could be muted.

In order to provide you with more help with your binary options trading I have recently added many new features to the site including live currency charts, the latest currency news and fundamental analysis on video every morning, live commodity prices, stock charts and index charts, along with a national holidays calendar, and finally if you are looking for a good ECN broker then please just follow the link.

Binary Betting Tip – Binary Bet 9th September 2009

Wednesday, September 9th, 2009
Spot Gold Price - Daily Gold Chart 9th September 2009

Spot Gold Price - Daily Gold Chart 9th September 2009

The FTSE 100, CAC and DAX opened largely unchanged this morning with a reasonable morning from financial stocks offsetting a poor morning for mining companies. Yesterday the FTSE 100 hit a new high for 2009 of 4971, just 29 points from the psychologically important 5000 barrier. It’s a relatively quiet day on the economic news front with Canadian housing starts at 12.15 GMT and the US beige book at 18.00 the standout announcements for today.

Binary Betting Strategy

The big currency players are yet to show their hand today. Sentiment is mixed across the forex market with the pound and euro down against the dollar, but up slightly against the yen. The biggest movers so far today are the aussie dollar which is down 0.6% after smashing through the 0.86 level yesterday and the USD/JPY which is up around 0.3% as the 92.00 support level holds for now. Daily oil prices enjoyed a strong day yesterday, but for all the headlines about gold, it once again failed at the $1,000 level when seriously tested. This might finally be the time that Gold makes it through the magical level though after a series of fakes in the past, and a bull trade predicting that Gold/USD will be higher than $1,000 in 3 days time which could return 120% is my suggested binary betting trade for today.

In order to provide you with more help with your binary options trading I have recently added many new features to the site including live currency charts, the latest currency news and fundamental analysis on video every morning, live commodity prices, stock charts and index charts, along with a national holidays calendar, and finally if you are looking for a good ECN broker then please just follow the link.

Binary Betting Trading Tip – Binary Options 19th August 2009

Wednesday, August 19th, 2009
GBP/JPY Daily Chart 19 August 2009

GBP/JPY Daily Chart 19 August 2009

Tuesday’s  turnaround rallies which added over 1% or more to major stock markets have come to a juddering halt Wednesday morning as overnight the Chinese stock market has fallen 3.2%, bringing it very close to a 20% loss since its peak at the start of the month. With 20% losses being seen as an official ‘bear market’, investors are hoping that the decline won’t be the undoing of the spectacular rally seen since July.

The FTSE, CAC and DAX all opened around 0.8% down, wiping out all or most of the gains made in response to Monday’s sell off. Today’s main announcements are the release of the meeting minutes from the last MPC meeting at 08.30 GMT and Canadian Core CP at 11.00 GMT.

Predictably, these falls in equity markets have led to a flight back to the perceived safety of the dollar and yen. Yesterday the pound was strong after UK inflation showed some resilience, but this morning, Sterling is falling faster than the euro against the dollar and yen. At least the GBP/JPY is managing to hold above Monday’s lows, which is more than can be said for the EUR/JPY. The commodity currencies, namely the Aussie dollar and Canadian dollar are also under pressure despite a big recovery in oil prices yesterday.

The GBP/JPY is still yet to revisit its Monday lows, but if this reversal of confidence gathers pace, the pound could have further pain to come. A One Touch trade predicting that the GBP/JPY will hit through 155.50 in the next day could return 146%.

In order to provide you with more help with your binary options trading I have recently added many new features to the site including live currency charts, the latest currency news and fundamental analysis on video every morning, live commodity prices, stock charts and index charts, along with a national holidays calendar, and finally if you are looking for a good ECN broker then please just follow the link.

Binary Trading Chart - Forex Chart Analysis Euro vs Yen 18th August 2009

Binary Trading Chart - Forex Chart Analysis Euro vs Yen 18th August 2009

With dramatic falls of over 2% on US markets last night, European traders will have reached their desks with some trepidation this morning. They will have breathed a sigh of relief as financial markets are showing some resilience this morning. The FTSE100, CAC and DAX opened up around 0.5% higher and while this won’t eradicate the losses from yesterday, it is certainly a start in the right direction. Aside from the Chinese stock market plunging 6% yesterday, there weren’t any major catalysts to point to, aside from the fact that stocks had run up too far too quickly. Absent of any new major stimulus, the bulls ran out of steam and finally gave way to the sceptics who were selling the rally with no small amount of pain along the way. Today we have UK CPI and RPI at 08.30. These two inflation measures could see some strong reactions in the FTSE and pound. At 12.30 GMT we have US building permits following by PPI.

Forex markets are attempting to reverse the major movements seen yesterday and late last week. Yesterday the yen and the dollar reigned but now the euro, pound and Aussie dollar are fighting back. The Euro/Yen in particular looks strong today, recovering most of yesterday’s losses. This rally could be muted though until stock markets really grab the bit between the teeth as a sign of returning appetite for risk. A no touch higher could be the best way to play this, with the barrier set just above yesterdays opening level at 135.25 for one day.

In order to provide you with more help with your binary options trading I have recently added many new features to the site including live currency charts, the latest currency news and fundamental analysis on video every morning, live commodity prices, stock charts and index charts, along with a national holidays calendar, and finally if you are looking for a good ECN broker then please just follow the link.