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  1. #1
    Administrator Martin Kay's Avatar

    Hot New Tips by Richard – EUR/CHF, Oil Weekly and Monthly Expiry 5/27-6/03/2013 !!!

    The new Richard's Weekly Binary Options Trading Tips are on BOTS website!
    Check them out and find what is going on in the markets this week and which are the best binary options trading setups!

    Originaly presented by Richard Cox.

    The S&P 500 turned lower late in the week after posting another all-time high on May 22nd. General volatility slowed in the early parts of the week, as investors waited for congressional testimony from US Fed Chairman Ben Bernanke before establishing positions. Bernanke’s comments echoed what is starting to be seen from a variety of FOMC voting members, essentially indicating that quantitative easing stimulus is not only becoming unnecessary but might actually be hurting prospects for economic growth. On balance, this is a negative for stock markets, and a positive for the inversely correlated US Dollar, as this will reduce the amount of currency in the system and reduce the potential for inflation.

    1. Euro strength was driven largely by a large move higher in the EUR/CHF (which pushed to new highs for the year). A quick round of profit taking followed, however, and we are right back at the Fibonacci breakout point from earlier in the month. I will look to get bullish again on the pair at current levels (just above 1.24) and use the latest weakness as an entry point for weekly CALL options in EUR/CHF. The latest impulsive move to the topside was very encouraging for the pair’s long term, so this trade can be taken on a monthly basis as well.

    2. For commodities trades, I will look to play off of the Dollar strength generated by a changing Federal reserve policy stance, and the weakness in Chinese manufacturing data to get bearish on oil, which continues to hold near its yearly highs. The series of lower highs since last September provides a technical basis for the underlying fundamentals. I will enter into monthly PUT options in Oil at current levels (95.80), looking for a run back into the low 90s before a bounce can be expected.

  2. #2
    Specialist Member RCox's Avatar
    EUR/CHF has made a sharp rally in the first half of the week. The strength of the impulsive move suggests a test and break of the yearly highs, so this trade is in a position to close ITM by the end of the week.

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  3. #3
    Specialist Member RCox's Avatar
    Oil is also looking good so far, with prices still trading near their recent lows. Look for a downside break of 95.15 to accelerate losses.

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