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By: Adam Stone
September 10th 2014 5:47am GMT, London UK

Today’s Binary Options Trading Strategy:

• Currency Pair: AUDUSD
• Timeframe: H4 (Hourly Chart)
• Binary Option Trading Recommendation: Seek binary call options on dips below 0.9170
• Upside Potential: The upside potential for this binary call option is 230 pips to 0.9400
• Downside Potential: The downside potential for this binary call option is 70 pips to 0.9100

The AUDUSD corrected extensively during yesterday’s trading session which broke the healthy uptrend this currency pair enjoyed over the past three trading days. The AUDUSD dropped from an intra-day high of 0.9401 which it reached on September 5th 2014 to an intra-day low of 0.9157 which it reached today on September 10th 2014. The intra-day low represented a lower low and formed a descending support line which is expected to face several tests with potential false breakdowns.

AUDUSD with binary options trading strategies 9-10-2014

Price action is currently drifting lower alongside its newly established descending support line and may use it to reverse the current correction partially until it reaches its next resistance level. Binary options traders can profit from the expected move upwards with binary call options. Today’s binary options trading strategy suggests call options to be placed below 0.9170 for a risk/reward ratio of 1.0/3.29.
Volatility may increase drastically as seller could attempt to force a breakdown below the descending support line for further downside while buyers will attempt to establish as solid support level from where the AUDUSD can launch a move higher in order to test its new horizontal resistance line. The current horizontal resistance line is the previous support line which could not halt the sharp drop and may now challenge an advance.

The AUDUSD will face its first major test at the 0.9239 level which represents the former support level which after the breakdown was turned into a solid resistance level. Should the AUDUSD have enough steam to force a breakout above this level it will turn back into strong support which may power this currency pair back to the 0.9319 which is an intra-day low reached on August 31st 2014. The next resistance awaits the AUDUSD at its intra-day high of 0.9401.

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

Westpac Consumer Confidence for the month of September:

• Expectations: A reading of 99.0 is expected for September
• Previous Month’s Data: An increase of 3.8% to 98.5 was reported for August
• Released Data: A decrease of 4.6% to 94.0 was reported for September
• Impact on the Australian Dollar: The decrease in the Westpac Consumer Confidence Index pressured the Australian Dollar into extremely depressed levels which favors binary call options in the AUDUSD currency pair

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

Wholesale Trade Inventories & Sales for the month of July:

• Expectations: An increase of 0.5% in inventories and 0.6% in sales is expected
• Previous Month’s Data: An increase of 0.3% in inventories and 0.2% in sales was reported in June
• Impact on the US Dollar: The inventory build-up may exercise negative pressure on the US Dollar which favors binary call 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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