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By: Adam Stone
January 15th, 2015 5:43am GMT, London UKAUDUSD

Price action is expected to trade inside its horizontal resistance level until enough downward pressure has been accumulated for a breakdown. The AUDUSD is anticipated to breakdown in order to challenge its horizontal support level from where a triple bottom may form. Binary options traders can benefit from the expected breakdown with binary put options. Today’s binary options trading strategy suggests put options to be placed on rallies above 0.8200 for a risk/reward ratio of 1.0/3.40.

Volatility has increased as the AUDUSD spiked to the upside and recorded its most recent intra-day high before collapsing. Volatility has decreased after this currency pair moved back inside its horizontal resistance level, but is expected to increase once again as buyers and sellers will face off at an important support/resistance area. Buyers are likely to try a breakout above its horizontal resistance level in order to test its most recent intra-day high. Sellers are favored to successfully breakdown and accelerate to the downside until it reaches its horizontal support level.

The AUDUSD will face its first support level at its intra-day low of 0.8106 which was reached on December 17th 2014 from where a breakdown will guide this currency pair to its next support level at its intra-day low of 0.8087 which was recorded on December 23rd 2014. An increase in volatility is expected at this level from where a breakdown can take the AUDUSD to its intra-day low of 0.8068 which was reached yesterday on January 14th 2015. The final support level awaits the AUDUSD at its intra-day low of 0.8032 recorded on January 7th 2015.

The following economic data out of Australia already impacted the base currency, the Australian Dollar, of the AUDUSD currency pair:

Australian Employment Report for the month of December:

• Expectations: The addition of 5,000 jobs was expected for the month of December, an unemployment rate of 6.3%
• Previous Report’s Data: The addition of 45,000 jobs was reported in the month of November, an unemployment rate of 6.2%
• Released Data: The addition of 37,400 jobs was reported for the month of December, an unemployment rate of 6.1%
• Impact on the Australian Dollar: The better than expected reading on job creation out of Australia has failed to provide meaningful upward pressure on the Australian Dollar which favors binary put options in the AUDUSD currency pair

In addition the following economic report out of the United States is expected to impact the quote currency, the US Dollar, of the AUDUSD currency pair:

Empire Manufacturing Index for the month of January:

• Expectations: A monthly reading of 5.00 is expected in January
• Previous Report’s Data: A monthly reading of -3.58 was reported in November
• Impact on the US Dollar: The anticipated increase in the Empire Manufacturing Index may suffice to pressure the US Dollar to the upside; this favors binary put options in the AUDUSD currency pair

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Adam Stone
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Adam Stone

As COO of GOptions, my first and foremost goal is to provide traders with the most up to date info from the markets. I have been trading the markets since 2004 and have been involved with stocks, binary options, and forex trading since then. I have had no formal market education and pride myself on a self taught approach to everything related to trading. I try to focus though on both the technical and fundamental aspects related to each trading day and bring forward the most important aspects of risk/reward in the market.
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