Forex & Binary
Today Trading Signals
Because of the light calendar, traders are likely to make decisions based on price action and sentiments. USDJPY is trading around 111.00 with not much of an action in the last few days. The major pair is moving in a descending pattern since 19th of July when USDJPY reached 113.00 level and we would expect that downtrend to continue.
The British pound is trading down waiting for the Bank of England interest rate decision that is scheduled for today at 11:00 GMT. The BoE is expected to deliver a 25 basis points rate hike. We are expecting further drops and GBPUSD to test 1.3060 before it makes a correction and eventually to close higher on the day.
The U.S. dollar conquers 112.00 against the Japanese Yen with more import tariffs slapped on China. Yesterday, the Bank of Japan prompted some selling around the Japanese Yen which additionally boosted USDJPY to surpass 112.00 level. Today's key focus would be on Fed's monetary policy statement that is scheduled for 18:00 GMT, traders will expect to get some fresh clues over the upcoming rate hakes.
To make profit, we need to trade smart. The Marubozo strategy is simple but that doesn’t mean it is easy to make profit. First, you need to learn to identify trends and then wait for a confirmation candle that will eventually tell you the price is in strong momentum and the trend will continue.
Before you start trading 5 minute binary strategy, you have to accept it will not give you 100% ITM signals. You have to approach trading with lower expectations and follow real action on the charts to build knowledge.
Candlestick price action makes use of the hollow (or filled) candlestick pattern and the wicks (or shadows), which determine the open and close and the high and low, respectively. Based on distinct patterns, candlestick price action can help traders to determine what is happening in the forex and crypto markets.
By analysing price action, traders can benefit as the chart patterns can signal a potential reversal to the trend and open positions accordingly. That the reversal patterns can appear in any time frame suggests they can be used by both swing traders and short-term day traders.
As the price action patterns are formed across multiple time frames, traders can take advantage of the continuation patterns and either day trade or swing trade, depending on their preference. In most cases, the continuation chart patterns can be expected especially after a strong move by the markets.
The best brokers should offer you great a trading experience with all the latest technological developments. When you choose a broker, customer support is also very important, and we carefully consider all companies before we put a broker in our top selection.
To trade cryptocurrencies, traders can use exchanges such as Bitfinex and Bittrex, but they can also trade crypto CFDs at forex brokers with higher leverage. While trading CFDs, you don't own the coins, but you can profit from higher volatility in the crypto market by guessing the price direction.
Some of the best forex brokers regulated by FCA (UK) and ASIC (AU) deliver currency pairs and cryptocurrencies, including Bitcoin, Litecoin and Ripple. The brokers offer traders direct access to the interbank liquidity. Traders can speculate on the forex and crypto markets by using leverage up to 1:1000.
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First things first, the binary options industry is not an “ideal world”. Sorry to burst your bubble, but this industry is not free of scammers and people who are just hunting your money under the guise of being your friends.