Archive for trading

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.

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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.