Successful Trades: EUR/CAD & GBP/USD - 16 June 2015
According to Christopher Lewis´s analysis of the EUR/CAD, “The 38.2 Fibonacci ratio is just below, the 1.3750 level has been massively resistive in the past, and the 100 day exponential moving averages just below the bottom of the hammer. In other words, I can think of at least 3 reasons to believe that the market is going to continue to go higher and that is what the best trading decisions are based upon, the odds of something happening.
If we break above the top of the hammer for the session on Friday, the market should then head to the 1.41 handle. If we can get above there it should be a bit of a fight to get to the 1.45 handle, but I do think we will eventually head in that general direction”. That creates an investment opportunity on the instrument: “High”, “No Touch Down”, and “Touch Up”.
I logged in the OptionFair™ binary options trading platform and I traded $1200 on the "High" instrument. This kind of option has a return of 70% so if the option will close below the target price, which means that if the signal is correct I could get a return of $840 on my investment.
The target price for EUR/CAD at the buying time (12:26) was 1.38571 for the expiration of 12:45. The Asset closed at 1.38599 and I made $840.
According to Christopher Lewis's analysis of the GBP/USD, “Quite frankly, the reason I think this is so positive is that we broke above the top of the hammer that formed for Thursday. Breaking the top of that candle is a classic technical analysis signal to start buying, and I believe now we will make an attempt towards the 1.57 level above, and then eventually the 1.58 level which is very important in my opinion”. That creates an investment opportunity on the instruments: “High”, “No Touch Down” and “Touch Up”.
I logged in the OptionFair™ binary options trading platform and I traded $1200 on the "Touch Up" instrument. This kind of option has a return of 75% if the option touches the strike price prior to expiry, which means that if the signal is correct, I could get a return of $900 on my investment.
The price for GBP/USDat the buying time (11:52) was 1.55244 and the target price was 1.55319 for the expiration of 12:15. The asset did touch the target price at 11:55, and I made $900.