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Markets remained entrenched in current ranges across nearly every asset class on Friday. Stock indices had a near break even sort of day while forex pairs played close to the scenarios we depicted in our analysis this past Friday. As we near the end of the year, financial markets will be hard pressed to find dramatic events able to truly push in one or another direction. As such, binary options traders will likely need to begin adapting to the low liquidity levels of the holiday season. Of course, once the 25th comes along, everything will grind to a complete halt, but until then it will be a slow and gradual slow-down.

For the coming week though, things should continue to shift between the robust trading days seen on Thursday to the quiet and fruitless days like that of Friday. On the other hand, such so called “quiet” days in terms of overall movements can be incredibly profitable.

Take for example the EUR/USD. We explained this past Friday that the market will play off the lower boundary, allowing binary options traders to employ reversal strategies at will. This is precisely what occurred and markets simply bounced off the support level over and over again. That level of course is the 1.3705 support level. For the day ahead, it’s likely that the level will be tested again later in the session.

The day ahead is expected to be light on news once we’re done with some EU releases early in the day. Specifically, the EU CPI releases are expected today 9am GMT. Things get going with the Trade Balance and Current Account indicators. Reactions to these 2 releases will seem rather random and there’s little point in getting overly involved with the actual figures and we recommend focusing on the price action as we head into the later hours of the trading day and of course the New York opening bell.

EURUSD with binary options 16-12-2013

Once that hits, expect the market to pick up significantly. But until then, the forex pair is likely going to continue to remain stuck in the range between the 1.3705 support and the resistance at 1.3810. The range bound trading for the currency pair is being caused at present by a lack of impetus from exogenous events. There just isn’t any major news expected that could seriously push the pair in any particular direction .

The worry is the the Asian markets, which are closing up the session at the time of writing, will cause a drag down effect on other stock markets. The worry is that the US stock market will be adversely effected by this. At present, the NIKKEI is down 1.62% already and it looks rather ominous for the EU session which starts very soon.

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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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