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GBPAUD – AUGUST 5TH 2014

EUR/USD 1.06062 00:30 21.02
NZD/USD 0.71666 00:30 21.02
AUD/CAD 1.00763 00:20 21.02
BitCoin/CNY 7290.305 00:00 21.02
AUD/NZD 1.07178 00:00 21.02
NZD/USD 0.71742 00:00 21.02
EUR/AUD 1.37969 00:00 21.02
CAD/JPY 86.436 00:00 21.02
NZD/JPY 81.265 00:00 21.02
AUD/USD 0.76895 00:00 21.02
AUD/JPY 87.098 00:00 21.02
GBP/JPY 141.280 00:00 21.02
EUR/JPY 120.171 00:00 21.02
USD/JPY 113.272 00:00 21.02
EUR/USD 1.06089 00:00 21.02
NZD/JPY 81.332 23:30 20.02
AUD/USD 0.76855 23:30 20.02
AUD/JPY 87.028 23:30 20.02
EUR/JPY 120.162 23:30 20.02
EUR/USD 1.06119 23:30 20.02
USD/JPY 113.238 23:30 20.02
BitCoin/CNY 7186.225 23:00 20.02
AUD/NZD 1.06976 23:00 20.02
NZD/USD 0.71849 23:00 20.02
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August 5th 2014 7:01am GMT, London UK
 

Today’s Binary Options Trading Strategy:
• Currency Pair: GBPAUD
• Timeframe: H4 (Hourly Chart)
• Binary Option Trading Recommendation: Seek call options on dips below 1.8050
• Upside Potential: The upside potential for this call option is 200 pips to 1.8250
• Downside Potential: The downside potential for this call option is 60 pips to 1.7990

The GBPAUD has corrected sharply over the past fourteen trading days which saw this currency pair move down from an intra-day high of 1.8364 reached on July 16th 2014 down to an intra-day low of 1.7987 reached on July 24th 2014. The correction was mostly due to the sell-off in the British Pound which faced severe downward pressure after a series of economic reports hinted that an interest rate increase by the Bank of England may not be announced until 2015.

GBPAUD

After reaching its most recent intra-day low of 1.7987 price action has drifted higher partially due to short-covering. This drift higher has also created an ascending support level and binary options traders can take advantage from the expected move higher with a call option. Today’s binary options trading strategy suggests call options to be placed below 1.8050 for a risk/reward ratio of 1.0/3.33.

The following economic data out of Australia impacted the quote currency, the Australian Dollar, of the GBPAUD currency pair:

• AiG Performance of Services Index – The Australian service sector has contracted in June and the contraction has continued in July. The AiG Performance of Services Index was reported at 49.3 which remains in contractionary territory, but the contraction has lost some inertia and decreased its pace as compared to June’s reading of 47.6.
• ANZ Roy Morgan Weekly Consumer Confidence Index – The Australian consumer grew less confident in the week which ended August 3rd 2014 as measured by the ANZ Roy Morgan Weekly Consumer Confidence Index. This index came in at 115.0 which marks a decrease of 1.2 points compared to the previous week’s reading of 116.2.
• Trade Deficit – The Australian trade deficit June was reported at A$1,683 million. This is far better than economists’ expectations for a trade deficit of A$2,000 million, but May’s trade deficit was revised upward to A$2,043 million.
• Reserve Bank of Australia Interest Rate Decision – Interest rates remained on hold at 2.50% as expected as the Reserve Bank of Australia remains in a waiting pattern and believes the current monetary policy is accommodative enough to support the economic expansion in Australia with modest growth in the labor market.
In addition the following economic report out of the UK will impact the base currency, the British Pound, of the GBPAUD currency pair:
• Markit PMI Data – The Markit/CIPS Composite PMI for July is expected to come in at 58.0. This compares to the 58.0 reported in June and hints at a continuation of the expansion at an elevated price which should support the rally by the British Pound. The Markit/CIPS Services PMI is expected to increase to 58.0 in July, up 0.3 points as compares to June’s 57.7. The service sector is the most important sector of the UK economy and a boost in the services PMI is expected to further fuel the rally in the GBPAUD.

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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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