Trades placed by optionFair
GBP/USD
Based on Bastian Rubben’s analysis of the GBP/USD the pair is trading in a range between the 1.5650 support and the 1.5850 resistance.
A support level is a price level where the price tends to find support as it is going down. This means the price is more likely to "bounce" off this level rather than break through it. However, once the price has passed this level, by an amount exceeding some noise, it is likely to continue dropping until it finds another support level.
A resistance level is the opposite of a support level. It is where the price tends to find resistance as it is going up. This means the price is more likely to "bounce" off this level rather than break through it. However, once the price has passed this level, by an amount exceeding some noise, it is likely that it will continue rising until it finds another resistance level.
At 11:27 the GBP/USD price was 1.58461 which indicates the pair next move will be towards its support level. That creates an investment opportunity in the following positions: “Low”, “Touch Down” or “No Touch”.
I logged on to the optionFair™ Binary Options Trading Platform, and traded with $1,350 on the "Touch Down" instrument. This kind of option has a return of 72% if the option will touch the strike price prior to expiry. The strike price for GBP/USD at the buying time was 1.58426 for the 11:45 expiration. The option touched the target price at 11:30 – just three minutes after I opened my position!
EUR/USD
Based on Christopher Lewis's analysis of the EUR/USD the pair trades between the 1.29 and 1.35 levels. A buy or a sell will occur only when one of these levels breaks. Support and resistance levels are crucial levels. Once the price of the pair has enough force to break that level the pair will usually continue in the same direction. For example if the pair rises through the resistance level, chances are it will keep rising. In the meantime a big fight in the opposite directions has triggered me to trade $1,400 on the “In” instrument.
This kind of option has a return of 70% if the option expires inside the boundary range, if the signal is correct I may earn $980 on my investment. The EUR/USD price at 11:53 was 1.31565, and the boundary range was 1.3150 – 1.3163 for the expiry of 12:30. The option expiry price was 1.31578 and I won my position!
