Market Review: Weekly Trading Signals Alerts ( Currencies NZDCHF, AUSUSD, GBPUSD, EURJPY) July 1-5th

Last Update: 2th july 09.00 GMT

Currencies: NZD-CHF

On the 4 hour chart, the NZDCHF is in the middle of an ascending triangle as shown below:

NZD-CHF Chart on 2nd july

NZD-CHF Chart on 2nd july

There are three ways that this is going to play out:
There will surely be a bullish break of the asset. This likely to happen on late Tuesday or early Wednesday. If this occurs from present levels, then the trader should select the TOUCH trade option, setting a strike price for the TOUCH trade at between 0.7388 and 0.7430 with a 7-day expiry. Once the strike price is breached, the trade will close in profit.
Select a NO TOUCH strike price of between 0.7255 and 0.7285, with a 72 hour expiry.
To trade a CALL option, wait for the asset to retreat to the lower trend line, and the moment it does, open a CALL trade contract with a 24 hour expiry time. This should happen on Tuesday or early Wednesday.

Currrencies: AUD-USD

After a sustained downtrend which was brought about by a crash in gold prices (remember the correlation between the Aussie and gold?), the AUDUSD is poised for a short term bounce. It is presently in a falling wedge and prices are expected to recover transiently.

The binary options play for this asset is to wait for a break of the upper trend with an attempted pullback. When this occurs, a CALL binary options trade can be initiated.
If the AUDUSD pulls back from present levels to the lower trend line, then the trader can initiate a CALL trade at the lower trend line with a 24 hour expiry.
Another trade that could be played on the AUDUSD is the TOUCH trade using a price target that lies anywhere from current levels to as high as 0.9390.

AUS-USD chart on 2nd july

AUS-USD chart on 2nd july

Currencies: GBP-USD

The GBPUSD is in the middle of a descending channel:

This is a tricky one to trade. The best bet is to wait for the price of the asset to get to the upper trend line at somewhere between 1.5230 and 1.5240. What the GBPUSD does here is critical to the next move for the trader.
A break of the upper trend line is an invitation to purchase a CALL option with a 24 hour expiry time. If the asset breaks the upper trend line, wait to see if the next candle will attempt to pullback below the trend line. This move will probably be resisted. If it is, then the CALL option should be purchased at the strike price of the trend line at that moment, with a 24 hour expiry.
The asset may fail to break the upper trend line. If it fails to break it, then purchase a PUT contract with a 24 hour expiry time.
Please note that the asset is in a downtrend, therefore the bias is squarely on trade scenario (b).

 

GBP-USD Chart on 2nd july

GBP-USD Chart on 2nd july

Currencies: EUR-JPY

The EURJPY seems to have topped at current levels and furthermore, it is at the very end of the rising wedge.

Unless there is a super extraordinary event that will cause the asset to behave otherwise, the EURJPY is about to get sold off. Furthermore, the candle in view has broken the lower trend line. The trade here is to purchase a PUT binary options contract with a 12 hour expiry at currency price. The trade should resolve quickly by Tuesday so now is the time to pull the trigger.

EUR-JPY Chart on 2nd july

EUR-JPY Chart on 2nd july

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