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By: Adam Stone
April 8th 2014 5:45am GMT, London UK

Binary options trading will begin today on the heels of a pretty miserable run over the last 2 sessions. Miserable though, just for those stock indices. US equity markets took a beating on Monday, just a day removed from the release of the NFP report which disappointed markets to some degree seeing as how the market expectation were not reached despite a better than previous result. This is probably the main reason why the EUR/USD has been getting slammed by the USD’s increase in value over the last few sessions. However, it’s very important to note that over the last 12 hours, the USD has relinquished much of the gain made on Friday.

The EUR/USD is currently trading near the 1.3741 mark, which is well above the previous support level of interest at 1.3710. Problem is, the support was broken and beaten down a few times over the last 48 hours and thus diminished the value of the support or rather the support’s actual ability to hold up the market’s assaults is very low.

Binary options traders will still want to keep very focused on this support level as based on the current momentum indicators, another move lower towards this level. If in fact momentum heads lower, the level is likely to actually hold up. Based on our current analysis, the market is not likely to break below the support and as such, it sets in motion the ability to trade using reversal strategies. For those unaware, using a risk strategy like a reversal can create massive profits. The strategy is based on the presumption that the market will test and even retest the level on multiple occasions. What makes this profitable is that on each test, assuming no break occurs, you keep small trades coming in the opposite direction. So in this case, we would expect traders to take UP options on each test of 1.3710 and keep the trades short in expiry time frames (no more than 20 minutes) or based on the volatility at the time of the test.

EURUSD 8-4-2014

The more volatile the market gets, the shorter the time frame needed to make money with the reversals. In fact, many binary traders have begun trading 300 second (5 minute options) using our Turbo option feature. It is certainly the best way to trade reversals in a volatility market scenario.

If the test is met with no resistance, expect a break and with a break, expect the market to wake up and create some serious follow through. So get ready to take down options if and only if, this occurs.

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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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