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By: Adam Stone
May 13th, 2015 7:15am GMT, London UK
Today’s Binary Options Trading Strategy:
Currency Pair: AUDUSD
• Timeframe: H4 (Hourly Chart)
• Binary Option Trading Recommendation: Seek binary put options on rallies above 0.7970
• Downside Potential: The downside potential for this binary put option is 400 pips to 0.7570
• Upside Potential: The upside potential for this binary put option is 105 pips to 0.8075
 The AUDUSD has reversed the false breakout above its horizontal resistance level which occurred after a strong advance emerged from its intra-day low of 0.7571 recorded on April 15th 2015. The false breakout reached an intra-day high of 0.8075 which was reached on April 29th 2015. This level also represents the origin of its descending resistance level which pressured the AUDUSD into a reversal. After recording an intra-day low of 0.7787 on May 5th 2015 the AUDUSD advanced into a lower high with an intra-day high of 0.8030 which was reached on May 6th 2015. Another reversal took the AUDUSD back down to its ascending support level.AUDUSD

Price action is now trading back inside of its horizontal resistance level, above its ascending support level but below its descending resistance level. The AUDUSD is anticipated to breakdown below its ascending support level and accelerate to the downside. 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 0.7970 for a risk/reward ratio of 1.0/3.81.

The AUDUSD experienced a contraction in volatility which accompanied the initial advance away from its horizontal support level, but the series of three lower highs separated by two higher lows has resulted in a sharp increase in volatility. This currency pair is now trapped inside of a narrow triangle formation which is likely to result in a further increase in volatility. Buyers are expected to pressure the AUDUSD into a breakout above its descending resistance level, but its highest intra-day high is unlikely to be violated to the upside. Sellers are favored to successfully force a breakdown below its ascending support level from where more downside is anticipated.

The first support level, after a breakdown below the intersection of its ascending support level and its descending resistance level, awaits the AUDUSD at its intra-day low of 0.7787 which was reached on May 5th 2015. A breakdown below this level will take the AUDUSD to its intra-day low of 0.7683 which was recorded on April 21st 2015. The final support level is located at its intra-day low of 0.7571 reached on April 15th 2015 from where a double bottom formation is likely to emerge.

The following economic data out of Australia already impacted the base currency, the Australian Dollar, of the AUDUSD currency pair:
Wage Cost Index for the first-quarter of 2015:
• Expectations: A quarterly increase of 0.6% was expected for the first-quarter of 2015, an annualized increase of 2.4%
• Previous Report’s Data: A quarterly increase of 0.6% was reported in the fourth-quarter of 2014, an annualized increase of 2.5%
• Released Data: A quarterly increase of 0.5% was reported for the first-quarter of 2015, an annualized increase of 2.3%
• Impact on the Australian Dollar: The reported slowdown in the Wage Cost Index has applied downward pressure on the Australian Dollar; this 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:
Advanced Retail Sales for the month of April:
• Expectations: An increase of 0.2% is expected for the month of April
• Previous Report’s Data: An increase of 0.9% was reported in the month of March
• Impact on the US Dollar: The expected increase in advanced retail sales may suffice to lift the US Dollar which 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.
Adam Stone
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