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AUDNZD – AUGUST 18TH 2014

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By: Daniel Gant
August 18th 2014 5:35am GMT, London UK
 

Today’s Binary Options Trading Strategy:

• Currency Pair: AUDNZD
• Timeframe: H4 (Hourly Chart)
• Binary Option Trading Recommendation: Seek call options on dips below 1.0965
• Upside Potential: The upside potential for this call option is 65 pips to 1.1025
• Downside Potential: The downside potential for this call option is 40 pips to 1.0925

The AUDNZD has been stuck in a sideways trend since July 29th 2014 after this currency pair reached a new multi-month intra-day high of 1.1048. This currency pair is now in the third correction inside a well-established trending zone with a slight bullish bias. This zone has formed with an intra-day high of 1.1048 reached on July 29th 2014 to an intra-day low of 1.0925 reached on July 31st 2014.

AUDNZD

Each correction inside this trading zone has set a higher low which resulted in the formation of an ascending support level for additional support. Binary options traders can take advantage from this formation with a call option. Today’s binary options trading strategy suggests call options to be placed below 1.0965 for a risk/reward ratio of 1.0/1.63.

Price action could be choppy as it approaches its ascending support level and traders could witness several false breakdowns below ascending support which are expected to be halted by the low-end of its current trending zone. This currency pair is expected to use false breakdowns to shake-out sellers and solidify an attempt to rally which favors binary call options over the next few trading days.

The expected move higher will face its first resistance at 1.1005 which is the previous intra-day low of its most recent rally before the current correction formed a higher low. A successful breakout above this level will take the AUDNZD back to 1.1048 which marks the intra-day high reached on July 29th 2014 as well as the top end of its trending zone.

The following economic data out of Australia already impacted the base currency, the Australian Dollar, of the AUDNZD currency pair:

Sales of New Motor Vehicles:

• Expectations: Slowdown in monthly as well as annualized new vehicle sales
• Previous Month’s Data: Monthly increase of 2.2% in June, annualized contraction of 2.0%
• Released Data: Monthly contraction of 1.3% in July, annualized contraction of 0.4%
• Impact on Australian Dollar: Sales of new motor vehicles out of Australia failed to move the Australian Dollar in any significant direction and allows price action to be in charge of directional movements which currently favor a move to the upside

In addition the following economic report out of New Zealand already impacted the quote currency, the New Zealand Dollar, of the AUDNZD currency pair:

Performance of Services Index:

• Expectations: Monthly increase above 56.0 for July
• Previous Month’s Data: June reading of 55.2
• Released Data: July increase to 58.4
• Impact on New Zealand Dollar: Despite a much stronger reading out of the New Zealand service sector the New Zealand Dollar was not able to mount a rally which is a short-term bearish indicator and favors the AUDNZD to drift higher; binary call options are recommended

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Daniel Gant
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Daniel Gant

Broker at GOptions
My strategies have been maintained and reworked for the last four years. Win loss accuracy and a stable method of volume production has insured my clients inside my personal portfolio success, not to mention the education, guides and management sessions that I teach daily.

I am not guaranteeing you success, but i am guaranteeing you that i will be providing you with my knowledge, training, time, strategies, technical analysis, fundamental analysis and all the tools that you will need to have a successful trading account.
Daniel Gant
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