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  1. #1
    Specialist Member TAllen1429's Avatar

    Daily Trading Tips by Terry - Thursday 7th November !!!


    Use an expiry time of 1 hour plus.
    Risk no more than 2% of your account balance.
    Tips are tradable until 4.00pm EST today.
    The USA is scheduled to publish its Labor Report at 8.30am EST

    EUR/USD: The euro consolidated this morning against the US Dollar ahead of the ECB policy announcement to be issued later today. As this decision is now in more doubt, the single currency has regained some posture during the last days following its sharp decline last week.

    Although the ECB may not initiate an interest rate cut this time around, accompanying dovish comments supporting its decision are expected to exert fresh pressure on the EUR/USD. Consequently, open a PUT binary option using this pair as its underlying asset if price slumps below 1.3490.

    USD/JPY: Although the US dollar traded flat against most other major currencies overnight, it still managed to extend its gains against the Yen for the third consecutive day by climbing just over 10 pips.

    After bouncing against its upper Bollinger Band a couple of times in the last few hours, the USD/JPY is now heading higher once again. As currency analysts are predicting that the increased volatility following the ECB decision will favor the greenback, consider buying this pair following a sustained break above 98.95.

    GOLD TRADING: After appreciating by 0.5% in value during Wednesday’s trading session, the price of this metal has stabilized since the commodity markets recommenced business a few hours ago. Essentially, gold is presently trading sideways within a restricted price channel.

    As the ECB is expected to issue comments later today confirming that it intends to support its monetary easing policies for some extended time period, analysts are anticipating further gold strength as a direct result. As such, activate a CALL binary option, structured on bullion, if price breaks decisively above $1,318.20 per oz.

    AUD/USD: After Australia published a disappointing labor report overnight that badly missed market expectations, this pair plunge by over 35 pips by breaking below a key support level in the process.

    The AUD/USD has subsequently undergone a corrective rally in the last few hours to resolve a heavily oversold condition. As the pair has just recommenced its downward path, look to sell the AUD/USD following a clean break under 94.55.

    SILVER: After the commodity markets commenced business this morning this metal has since enjoyed a quiet respite ahead of the ECB policy decision at 7.45am EST. Silver consolidated the gains that it acquired yesterday by range trading within a confined channel.

    Similar to gold, this commodity is expected to acquire new support if the ECB endorses its verdict by issuing dovish comments, as is widely expected. Under such circumstances, consider buying silver if price can surge above $22.00 per oz.

  2. #2
    Specialist Member TAllen1429's Avatar
    Yesterday's Results

    No Tips were activated yesterday.

  3. #3
    Active Member rockettrader's Avatar
    The only big and important news announcement from the list today was the ECB interest rate cut from 0.5% to 0.25%. It changed the EUR/USD pair price with about 200 pips south and than retrace half of that initial move in less than an hour. That is really great move, much bigger than the average daily trading range. The other important news was the
    Tomorrow we will have NFP number and that will give the other big impulse for the market movement, but still unclear will it help the already started us dollar strengthening or it will be against it.

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