Market Review: Weekly Trading Signals Alerts ( Currencies, Gold, Oil) June 17-21th

Last Update: 17th june

Currencies: NZDCAD

The currency pair has been in an upward retracement mode the whole of last week. It looks like it is time to resume the downtrend. Moreover, the asset is breaking downwards out of a falling wedge.

The only way to trade this is to purchase a PUT contract to take advantage of the break of the asset of the lower trend line of the falling wedge. This trade has to be taken on market open for the week, and the expiry can be set at 8 hours minimum.

NZD-CAD Chart on 17th june2013

NZD-CAD Chart on 17th june2013

Currencies: EURUSD

A short term resistance has formed on the 4 hour chart at slightly above 1.3342. At the moment, EURUSD is in a consolidation, with the upward limit at 1.3368 and the downside limit at 1.3293. Unless there is some strong impetus to drive prices beyond these limits, the asset is likely to remain range-bound at least for 24 hours after market open. Barring any fundamental triggers, if the price drifts downwards to 1.3298 or 1.3300 psychological support, the trader can purchase a CALL binary option with a three hour expiry time. If the price drifts to the upper limit of 1.3368, this would be a good level to purchase a PUT contract with a three hour expiry. The bias should be for the CALL trade. This is the most likely one to succeed.

Currencies: AUDUSD

The 1-hour chart of the AUDUSD is in a channel as shown below. There are two ways of trading the situation:

Scenario 1:
The asset which is presently headed down to the lower trend line of the ascending channel could bounce off this channel. The only way to trade this bounce is to purchase a CALL contract when this occurs. This requires a monitoring of this asset for at least four hours to see whether this will play out.
Scenario 2:
If the asset breaks below the lower trend line, then the play would be to wait for a pull back to the lower trend line which will now serve as a resistance, and then to purchase a PUT contract at that point.
So this is the play: it is either a CALL binary option trade if there is a bounce at the lower trend line, or a PUT binary option trade when there is a confirmed break of the lower trend line followed by an attempted pullback at that trend line.

AUS-USD Chart on 17th june 2013

AUS-USD Chart on 17th june 2013

 

Currencies: EURGBP

This currency asset is in consolidation mode. The trend lines are well defined, and presents a good opportunity for the trader to pick profits from both trend lines as there is no trend bias.

As such, if the asset drifts to the upper trend line at 0.8590, the trader needs to purchase a PUT contract with a 3-day expiry time. If the asset heads down to the lower trend line at 0.8412, this is a good opportunity to purchase a CALL contract at that point.
The dynamics could change if there is a fundamental trigger for either currency in the pair. Barring that, the trade should be pretty straightforward.
This is also a good trade to play for the IN/OUT option, and depending on the expiry time, the asset is likely to stay IN the boundary within the first 3 days of next week. After that, the chances of an IN trade to succeed would diminish greatly and the odds would favour an OUT trade as the asset heads towards the price boundary.

 

EUR-GBP Chart on 17th june2013

EUR-GBP Chart on 17th june2013

Currencies: USDCHF

The USDCHF is presently contained in a descending channel.

The asset has hit the upper trend line and has started the downward move within the channel. The savvy trader would definitely follow the trend downwards with a PUT binary options contract placed immediately the market opens for the week. The expiry time to use should be at least 24 hours.
This is also a good situation to set a TOUCH binary options trade in order to take advantage of the downward move that is sure to occur within the channel. Any price target between 0.9204 and 0.9110 would serve as a touch binary option strike price. If your platform gives this option, then take it with both hands.

 

Charts USD-CHF on 17th june-2013

Charts USD-CHF on 17th june-2013

Commodities: XAUUSD ( Gold )

Gold is in a long term consolidation on the daily chart, contained within a symmetrical triangle. The symmetrical triangle is more pronounced on the one hour chart as can be seen below.

The symmetrical triangle can end up with an upside or a downside breakout. At the moment, this is not well defined. The trend lines of the triangle are still too far apart at this point, and so an immediate trade would be to purchase a PUT option at the present level (1389.78). The expiry time for this trade would be at least 2 to 3 hours.
When the trend lines start to converge a lot more, then the best approach is to wait for the breakout to occur and follow the trade accordingly. This would be a CALL option if there is an upside break of the triangle, or a PUT option if there is a downside break.

Gold Chart on 17jth june 2013

Gold Chart on 17jth june 2013

 

Commodities: Crude Oil

Crude is in the middle of an upside breakout of an ascending triangle.

The only way to follow crude for the week is to probably wait for the asset to get down to 96.80, and then to purchase a CALL option at that point with a 72 hour expiry time.

 

Oil Chart on 17th june 2013

Oil Chart on 17th june 2013

Currencies: GBPAUD

The GBPAUD is an asset that is presently in a falling wedge pattern.

The trade for the GBPAUD is a CALL option contract, with a 48 hour expiry time. The grey shaded area above represents the most likely area where the asset will end the week at, so it should be an easy trade for the discerning trader.

 

GBP-AUS Chart on 17th june 2013

GBP-AUS Chart on 17th june 2013

 

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