EUR/JPY
According to Doug’s analysis , EUR/JPY is bought at the price of 105 (support) and is sold at the price of 106.40 (resistance). When I opened my optionFair™ Binary Options Trading Platform at 12:41 the price of the EUR/JPY was 106.256.
Since the price of the currency was closer to the resistance I decided to take a bearish position. My choices were between: “Low”, “Below”, “Touch down” or “No touch”.
I decided to trade with $1,200 on the “Touch Down” instrument.
This kind of option has a return of 72% if the option touches the strike price prior to expiry. If the signal is correct, I could get a return of $864 on my investment.
The target price I got was 106.194 and the expiry time was at 13:00. The EUR/JPY price hit the strike price in less than 5 minutes. I won the position, earning $864.
GBP/USD
The GBP/USD is reflecting bullish signs above the level of 1.6010 and bearish signs below the level of 1.5965 according to Doug’s analysis. At 12:36 the GBP/USD price at the optionFair™ Binary Options Trading Platform, was 1.6010.
As a result I traded $1,200 on the “High” instrument. This kind of option has a return of 85% if the option expires higher than the strike price. If the signal is correct, I should see a return of $1,020 on my investment. The market price for GBP/USD at the expiry (12:45) was 1.60146. I earned 85% on my investment in less than 10 minutes!
