+1 (866)-882-6854
+ 44 203-807-1675
Chat
10:48:18 GMT
Black & White

NZDUSD – AUGUST 11TH 2014

BITCOIN 783.674 10:40 10.12
BitCoin/CNY 5410.955 10:40 10.12
BITCOIN 783.389 10:20 10.12
BitCoin/CNY 5408.990 10:20 10.12
BITCOIN 783.152 10:00 10.12
BitCoin/CNY 5407.350 10:00 10.12
BITCOIN 783.084 09:40 10.12
BitCoin/CNY 5406.880 09:40 10.12
BITCOIN 783.408 09:20 10.12
BitCoin/CNY 5409.120 09:20 10.12
BITCOIN 783.886 09:00 10.12
BitCoin/CNY 5412.420 09:00 10.12
BITCOIN 782.885 08:40 10.12
X
We apologize for the inconvenience, registration from your state is disallowed.
August 11th 2014 4:57am GMT, London UK
 
Today’s Binary Options Trading Strategy:

• Currency Pair: NZDUSD
• Timeframe: H4 (Hourly Chart)
• Binary Option Trading Recommendation: Seek call options on dips below 0.8470
• Upside Potential: The upside potential for this call option is 180 pips to 0.8650
• Downside Potential: The downside potential for this call option is 70 pips to 0.8400

The NZDUSD is currently in the process of forming a bottom as well as a new support level after a sharp sell-off over the past twenty-two trading days took this currency from an intra-day high of 0.8835 reached on July 10th 2014 to an intra-day low of 0.8423 reached on August 6th 2014. The most recent intra-day low set a higher low as compared to the previous sell-off low intra-day low of 0.8402 reached on June 4th 2014 and is a bullish sign favoring call options.

NZDUSD

In addition to forming a bottom around current levels price action has also formed a double bottom formation which is a bullish chart pattern and indicates a potential reversal in the current downtrend. Binary options traders can take advantage from the expected reversal with a call option. Today’s binary options trading strategy suggests call options to be placed below 0.8470 for a risk/reward ratio of 1.0/2.57.

The most recent intra-day low at 0.8423 has formed the lower part of its current support level and binary option traders are advised to monitor the 0.8470 mark for an expected breakout. The next resistance level for the NZDUSD is located at 0.8531 which marks the intra-day high reached on August 5th 2014 before the latest leg down unfolded. A successful breakout is expected to take this currency pair back to the 0.8649 level.

Support inside the 0.8423 and 0.8470 territory is very strong and any potential false breakdown is expected to be limited to the 0.8402 level with no close expected below this. The NZDUSD currency pair is currently oversold and trades at strong support levels. The next major move for this currency pair is expected to be upward.
The following economic data out of New Zealand has already impacted the base currency, the New Zealand Dollar, of the NZDUSD currency pair:

Card Spending:

• Expectations: Monthly expansion of 0.8% in July
• Previous Month’s Data: Card spending rose 0.5% in June
• Released Data: Card spending unexpectedly contracted by 0.1% in July
• Impact on New Zealand Dollar: The disappointment in card data for the month of July had virtually no impact on the New Zealand Dollar and therefore the NZDUSD currency pair remained virtually unchanged; this continues to favor binary call options

Retail Card Spending:

• Expectations: Monthly expansion of 0.5% in July
• Previous Month’s Data: Retail card spending was reported at 0.0% in June
• Released Data: Retail card spending missed expectations and was reported at 0.0% in July which matched June’s data and marked the second consecutive month of no growth
• Impact on New Zealand Dollar: Price action showed no major reaction to the missed expectations in the retail card spending report which further strengthens the case for binary call options in order to take advantage of the expected price action reversal

There are no fundamental reports expected out of the US during today’s trading session which allows the quote currency, the US Dollar, of the NZDUSD currency pair to solely be influenced by price action without interference from economic data.

Share Button
Daniel Gant
Follow Me

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
Follow Me

Latest posts by Daniel Gant (see all)

Start Trading with the most professional mobile platform, always on the GO
Play StoreApp Store