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  1. #1
    Administrator Martin Kay's Avatar

    Hot New Tips by Richard –USD/JPY, MS Weekly and Monthly Expiry 6/03-10/2013 !!!

    Hi guys,

    The new Richard's Weekly Binary Options Trading Tips are here!
    Check them out and find the best picks Richard selected for you to trade this week!

    Originaly presented by Richard Cox.

    In the week ahead, we will have interest rate decisions from the Bank of England and the Reserve Bank of Australia, GDP figures out of the Eurozone, and Non Farm Payrolls out of the US. Volatility is likely to be subdued unless we see position squaring (particularly ahead of NFPs) trip profit stops and push prices lower. NFPs are expected to show a largely unchanged result, with 168,000 new jobs added (after the 165,000 seen last month). Expect a positive result to have a short term bullish effect on the US Dollar, followed by weakness on safe haven selling. A negative result should send the S&P back through short term support levels and send stocks on an early trajectory to have a bearish June month. The central bank rate decisions will also be important for determining the long term prospects of the AUD and GBP, as both central banks could signal concern and the potential need for additional policy easing before the end of the year.

    1. The most recent weakness in the US ISM manufacturing data has sent the USD/JPY back through its key psychological level at 100, and I will use this retracement as a new opportunity to get long Dollars. Central Bank policy remains supportive and with the massive weakness we have seen recently in Japanese stock markets, there is an increased likelihood we will start to see increased rhetoric from the country’s finance ministers to calm the volatility. Look to enter into weekly CALL options in the USD/JPY at 98.80, looking for at least a test of 100. Risk here comes with Friday’s NFP numbers and if gains are seen prior, close the position early if your broker allows this.

    2. For stock trades, I will look to play off of the recent Moody’s upgrade for the US financial sector and buy monthly CALLS for Morgan Stanley (MS) at 25.30. In addition to the positive fundamental change, prices have pushed through the 78.6% Fib resistance level from its medium term decline, and this targets a full retracement before the end of the year.

  2. #2
    Specialist Member RCox's Avatar
    The USD/JPY saw a nice initial bounce out of the 98.80 support level but prices have given back most of those gains and the series of lower highs on the short term charts suggests we will see another test (and possible break) of that support level. Risk sentiment is broadly lower in the markets this week, as analysts continue to suggest we will see an end to quantitative easing stimulus (an argument supported by today's upbeat Beige Book release). In addition to this, initial labor market reports from ADP signal potential weakness in Friday's Non Farm Payrolls, so if we do see negative numbers we could see some major moves into the end of the week fueled by stop loss momentum.

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  3. #3
    Specialist Member RCox's Avatar
    Downside break of support is now being seen in the USD/JPY. This isn't a total surprise given the reversal characteristics seen in the latter parts of the week. The real question will be tomorrow's Non Farm Payrolls data. If we do see a disappointing number (most of the recent evidence is pointed in this direction), I will be using this as an opportunity to buy back in at lower levels.

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