Market Review: Trading Signals Alerts ( Currencies, Gold, Oil, Dow ) July 17-19th

Last Update: 17th july 5pm GMT

Currencies: EURJPY

An ascending triangle is looming on the 4hour chart:

EUR-JPY Chart on 17th july 2013

EUR-JPY Chart on 17th july 2013

If price trades within the trend lines, the trader should be bearish on the upper trend line and bullish on the lower trend line. Place a PUT at upper trend line if it is not broken. A CALL trade should be placed if:
The price breaks out at upper trend line.
If the price retreats to lower trend line and bounces off it to assume an upward dimension.
The two trend lines can also be used as strike prices for a TOUCH trade with a 7-day expiry.

Currencies: EURUSD

The EURUSD is in the middle of a bullish retracement which has peaked at the 61.8% retracement level.

EUR-USD Chart on 17th july 2013

EUR-USD Chart on 17th july 2013

We expect the resumption of the downtrend, but only when the asset has reached levels of between 1.3130 and 1.3160. From these levels, the trader can set a PUT binary option trade with an expiry time of a maximum of 72 hours. It is important to allow the asset to trade back up to the afore-listed price to give the trade a greater chance of success. Watch out for any fundamental triggers that may push prices upwards. Barring any of such triggers, the trade should play out as expected.

Currencies:; GBPUSD

The trades for the GBPUSD are as follows:

GBP-USD Chart on 17th july

GBP-USD Chart on 17th july

A PUT binary option set at anywhere between 1.5250 and 1.5260. Therefore price must be allowed to get into that range before trade execution.
There is also a TOUCH binary options trade at any price between present levels and 1.5260.
Then finally, a NO TOUCH trade at 1.5385 with an expiry of seven days.

Commodities: XAUUSD

Gold has been tightly range bound for some days now and this is expected to remain so into early next week. Therefore the trades to take on gold are as follows:

Gold Chart on 17th july

Gold chart on 17th july

From present levels, a CALL binary option trade with an expiry time of at least 48 hours. If the asset stays range bound and retreats off the upper trend line by next week, a PUT binary option trade should be set. Alternate CALLS and PUTS as the asset hits the lower and upper trend lines respectively. It is only when there is a confirmed break of the trend line that the trader should trade in the direction of the breakout with the corresponding trade type.
Those who are fans of the boundary trade can use the two trend lines set as boundaries to initiate an OUT trade with a 7 day expiry because we expect gold to have hit or broken through one of these trend lines by the end of next week.

Commodities: Crude Oil

Our expectation for crude oil this week is for it to close higher than 105.00, continuing its push higher. However, it is expected to retreat slightly to 105.00 before continuing its move higher.

Crude oil Chart on 17th july

Crude oil Chart on 17th july

The trade to take for crude oil is to wait for the asset to drop to the trend line shown in the chart at around 105.00, and then take a CALL trade on the asset. Those who are trading on platforms with the Touch/No Touch trade type can expect the asset to move within the 105.00 to 106.70 mark within the next one week. Allow the asset to bounce off the trend line and then set a strike price for a TOUCH trade at anywhere between 105.50 to 106.20 within the next 7 days.

Indices: Dow (DJ30)

The Dow is presently range-bound and should also be traded as follows:

Dow Chart on 17th july

Dow Chart on 17th july

Boundary trade: An OUT trade should be traded using the two trendlines as the limits of the price to the upside and downside. The price should break within the next one week.
CALL: Only trade a call if the price bounces off the lower trend line without breaking it, or if the price breaks through the upper trend line and attempts to retreat back but bounces off this trend line which now will act as a support.
PUT: Only trade a put if the price retreats off the upper trend line or if the price breaks below lower trend line and attempts to pull back up above that broken trend line. A rejection at the trend line should occur leading the way for price to go south.

Currencies: AUDJPY

The AUDJPY is not expected to breach present resistance level depicted by the 50% Fibo retracement yellow line.

AUD- JPY Chart on 17th july

AUD- JPY Chart on 17th july

Trade should be a PUT binary option trade at 92.23 with a 24 hour expiry. This should be a straightforward trade.

Recommended Broker: Banc de Binary

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