Binary Options Trading Ideas 2020: Focus on next week

The coming week is full of economic data. You have to watch them almost every day. This creates at least four good trading opportunities.

The coming week is full of economic data. You have to watch them almost every day. The manufacturing indices begin, and towards the end of the week the US labor market is once again on the agenda. This results in positive trends for the US dollar. European equity markets are supported by falling yields and the ECB's QE program. Many well-known investors also position themselves in the EU.

Trading idea No. 1: DAX Long

The current developments on the markets indicate that market participants are particularly positive for European equity markets, German stock indices such as the DAX or MDAX also benefit from this. So the Dax opened today with a slight up-gap. The 1-minute chart clearly shows this. Typically, this gap will close within the first two hours.

Currently, however, it doesn't look like the gap is closing. The course is in a consolidation range. A trading idea would be to bet on the continuation of the upward trend. To do this, however, you should first leave the range upwards; pulling back to the line would be a good entry. Even if you missed the entry point, you should be able to find more entries based on this strategy during the day / week. The trader should then either wait for the next consolidation or use relevant resistance zones to get started.

Binary Options Trading Ideas 2020: Focus on next week

Trading idea No. 2: EUR / USD short

The currency pair EUR / USD has got out of his range last week. The devaluation of the euro was accompanied by negative bond yields for European government bonds. The euro is currently recovering from the breakout line against the US dollar. It is likely that the currency pair will head for the low at $ 1,1100 per week this week. Economic data released almost daily this week should also help, although the correction could go as high as $ 1.1270 per euro. The 20s moving average runs at this level.

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Trading idea No. 3: Gold

The precious metal gold is currently correcting the downward trend of the last 3 weeks and has resistance in the range of 20 Moving Average found. It is not yet clear whether the price will continue to fall. Gold has seen more demand recently as inflation forecasts appear to be stabilizing. Loose monetary policy on the part of many central banks is fueling expectations of rising inflation. The trading idea would therefore consist of only going long above the 20s moving average. Alternatively, one could already speculate that the downward trend will continue.

Binary Options Trading Ideas 2020: Focus on next week

Trading Idea No. 4: AUD / USD Short

The Australian dollar has been up for the past two weeks somewhat recovered when market participants realized that a rate cut is unlikely in the short term. The weak US dollar also supported the Aussie. However, an interest rate cut is expected in the second quarter at the latest. The likelihood of the downward trend continuing is therefore increased, at least in the medium term. An option with a slightly longer term would be a good solution for a successful trade. The entry should only be made when the consolidation flag is broken down. The target for the medium term would be around $ 1,774 per Australian dollar.

Conclusion

This week is accompanied by a lot of economic data. If retailers are on the move at short notice, then it is essential to look at the data. However, it is also important to always keep the general market picture in mind, because the big trends usually remain, even if the volatility is increased by the data.

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Binary Options Trading Ideas 2020: Focus on next week

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