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BITCOIN 781.950 11:20 03.12
BitCoin/CNY 5382.550 11:20 03.12
BITCOIN 782.045 11:00 03.12
BitCoin/CNY 5383.210 11:00 03.12
BITCOIN 782.136 10:40 03.12
BitCoin/CNY 5383.835 10:40 03.12
BITCOIN 782.186 10:20 03.12
BitCoin/CNY 5384.175 10:20 03.12
BITCOIN 782.498 10:00 03.12
BitCoin/CNY 5386.325 10:00 03.12
BITCOIN 780.288 09:40 03.12
BitCoin/CNY 5371.115 09:40 03.12
BITCOIN 781.315 09:20 03.12
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Binary options need to understand that the market is simply in stand deliver mode. At every resistance, it’s just more of the same: breaks galore. The market again headed higher and with this most recent move, binary options traders were able to capitalize on the advice we provided Thursday where we explained clearly that a break above 1800 for the S&P would provide binary traders the signal needed for an up options with low risk. This is precisely what occurred and our dealing room was quick to point out that this past Friday had the 2nd largest day of volume on record for the brokerage since inception on the S&P.

Looking at this move, it’s fairly clear now to see how obvious it was. It marks the 64th time out of 66 attempts that the index broke past daily chart level resistance without an immediate pullback. This is an incredible statistic and allows binary options traders to thoroughly rely on the behavior to turn very low risk profits on the index.

But the world doesn’t revolve solely on the S&P stock index and binary options trades, as hard as they may try, won’t be able to topple the dominance of the trading executed on forex pairs, particularly the EUR/USD. The forex pair is now stuck just below the resistance level at 1.3565. A break of this resistance will certainly push the bulls back into the market and we can expect a push higher in quick succession. Expect the move to be followed by a subsequent test of the next resistance which is a bit higher at 1.3581 however we don’t expect this level to test today unless something quite dramatic were to occur.

Considering the fact that there is virtually no major economic news today, the market will have a very hard time pushing in that direction with any serious momentum. The only bit of economic intrigue will come in the form of Pending Home Sales in the US at 10am GMT and the market is expecting a release in or around the figure of 1.3% higher. Please note though, the previous result of this indicator was in negative territory (-5.3%) so the very fact that it’s positive might help push stocks higher. This could in fact help garner interest in the USD and thus help push the EUR/USD back lower. This should be kept in mind as you trade in the hours leading into the start of the US session.

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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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