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BINARY OPTIONS TRADING FOR JULY 29TH 2015

BITCOIN 927.191 00:00 22.01
BITCOIN 925.542 23:00 21.01
BITCOIN 928.606 21:40 21.01
BITCOIN 927.834 21:20 21.01
BITCOIN 929.132 21:00 21.01
BITCOIN 926.861 20:40 21.01
BITCOIN 926.252 20:20 21.01
BITCOIN 925.464 20:00 21.01
BITCOIN 925.128 19:40 21.01
BITCOIN 925.724 19:20 21.01
BITCOIN 928.129 19:00 21.01
BITCOIN 927.638 18:40 21.01
BITCOIN 926.386 18:20 21.01
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By: Adam Stone
July 29th, 2015 5:22am GMT, London UK

Market Recap & Outlook:

Consumer confidence plunged in the United States to 90.9 in July which was reported during yesterday’s trading session. Economists expected a level of 100.0 and adding to the disappointment was the downward revision to June which now reflects a level of 99.8. The drop in consumer confidence is now more in line with the contraction in retail sales which may deteriorate further. This is a red-flag for the next GDP report which could show the US entering a technical recession.

The UK did report a 0.7% increase in its second-quarter GDP which matched expectations and marks the 10th consecutive quarter in which the British economy expanded. This followed the 0.4% increase reported in the first-quarter of 2015. Despite the strong quarterly reading, the annualized GDP slowed down to 2.6% from the previous GDP report where the annualized growth rate came in at 2.9%. The British Pound reacted with a slight push to the upside as the best options trading platforms envisioned prior to the release.

The two day FOMC will conclude today with an announcement late in the US trading session. Interest rates are expected to remain unchanged at 0.25%, but a growing number of market participants expect the statement to show changes which would support an increase in interest rates. The economic environment may not support a change in monetary policy which could have a negative impact on the US Dollar. Binary option traders are cautioned as volatility in the greenback is set to spike after the release.

Today’s Binary Option Trading Recommendations Overview:

EUR/USD – Binary Put Option
USD/JPY – Binary Call Option
EUR/GBP – Binary Put Option
Oil – Binary Call Option
FTSE 100 – Binary Call Option

Currency Pairs on today’s Radar Screen:

EUR/USD – The EUR/USD has broken down from its intra-day high of 1.1129 which it recorded on July 27th 2015. A steep, descending resistance formed and this currency pair is now trading below its enforced resistance level. The 50 Day Moving Average (DMA) continues to trade above the 200 DMA, but the gap is expected to narrow as a result of the pullback. The Accelerator Oscillator (AC) is supporting a continuation of the move to the downside and the Relative Strength Index (RSI) is trading in overbought territory.
EUR/USD Binary Options Trading
Today’s Binary Options Trading Strategy: Put Option
Price action is currently trading below its horizontal resistance level. The EUR/USD is anticipated to drift down to its 200 DMA from where a breakdown is likely. Binary option traders are advised to seek binary put options in the EUR/USD currency pair on rallies above 1.1070 on the H1 Hourly Chart. The downside potential for this binary put option is 200 pips to 1.0870 while the upside potential is 55 pips to 1.1125. This results in a risk/reward ratio of 3.64.

USD/JPY – The USD/JPY has lost its downward momentum after breaking out of its horizontal support level. The initial bounce higher now reversed and met its ascending support level. Price action is currently trading just below of its 50 DMA and below its 200 DMA. The AC has confirmed the recent volatility in price action as the RSI has dropped into oversold territory. The best options trading platforms are suggesting the move to the upside to resume.
USD/JPY Trading
Today’s Binary Options Trading Strategy: Call Option
Price action is now trading at its ascending support level and below its 50 DMA. The USD/JPY is expected drift into its descending resistance level from where a breakout is favored to lift this currency pair into its horizontal resistance level. Binary option traders are advised to seek binary call options in the USD/JPY currency pair on dips below 123.400 on the H1 Hourly Chart. The upside potential for this binary call option is 75 pips to 124.150 while the downside potential is 40 pips to 123.000. This results in a risk/reward ratio of 1.88.

EUR/GBP – The EUR/GBP fell below its 50 DMA which caused momentum to change from upward to downward. The 50 DMA remains above the 200 DMA, but both moving averages have started to trend sideways. The AC is pointing towards more downward pressure going forward while the RSI has bounced from oversold territory into neutral conditions; a breakdown into extreme oversold conditions is likely as the EUR/GBP is set to deteriorate further.
EUR/GBP Binary Options Tips
Today’s Binary Options Trading Strategy: Put Option
Price action is currently trapped inside of a triangle formation which has increased pressure on this currency pair. The EUR/GBP is anticipated to breakdown below its ascending support level from where price action can accelerate to the downside. Binary option traders are advised to seek binary put options in the EUR/GBP currency pair on rallies above 0.7090 on the H1 Hourly Chart. The downside potential for this binary put option is 125 pips to 0.6965 while the upside potential is 70 pips to 0.7160. This results in a risk/reward ratio of 1.79.

Today’s Commodity Trade

Oil – Oil is trying to stabilize above of its horizontal support level after breaking down below the key $50/barrel mark. Price action successfully broke out above its 50 DMA which has boosted upward momentum. The 50 DMA has started to flatten out as the 200 DMA is accelerating to the downside. The AC is supporting a change in momentum and is favoring an uptrend in this commodity. The RSI completed a breakout from extreme oversold territory and is now trading in neutral conditions.
Oil Commodity Trading with Binary Options
Today’s Binary Options Trading Strategy: Call Option

Price action is now pushing to the upside after reaching its most recent intra-day low of 46.66 yesterday on July 28th 2015. Oil is expected to advance into its descending 200 DMA from where a breakout is favored. Binary option traders are advised to seek binary call options in Oil on dips below 48.00 on the H1 Hourly Chart. The upside potential for this binary call option is 250 pips to 50.50 while the downside potential is 130 pips to 46.70. This results in a risk/reward ratio of 1.92.

Today’s Equity Index Recommendation

FTSE 100 – The FTSE 100 has ended its corrective phase which emerged from its intra-day high of 6,812.50 recorded on July 20th 2015. The 50 DMA did breakdown below the 200 DMA which has flattened out. The AC is supporting a reversal in price action from current levels and the RSI is trading in neutral territory after briefly trading in extreme oversold conditions. The breakout has further caused a build-up in upward pressure.
FTSE 100 Index Trading
Today’s Binary Options Trading Strategy: Call Option
Price action is currently trading above of its horizontal support level. The FTSE 100 is anticipated to breakout above its 50 DMA from where this equity index can accelerate to the upside. Binary option traders are advised to seek binary call options in the FTSE 100 equity index on dips below 6,590.00 on the H1 Hourly Chart. The upside potential for this binary call option is 22,000 pips to 6,810.00 while the downside potential is 9,500 pips to 6,495.00. This results in a risk/reward ratio of 2.32.

Key Fundamental Data:

Japan – Retail trade in Japan contracted by 0.8% in June month-over-month, but rose 0.9% year-over-year. Economists expected a contraction of 0.9% and an increase of 1.1% respectively. This follows the 1.7% increase reported in May month-over-month and 3.0% year-over-year. Sales at large retailers unexpectedly contracted by 0.3% in June after surging 5.3% in May; economists expected an increase of 1.8%.
Eurozone – The German GfK Consumer Confidence Survey is expected to come in at 10.1 for August which would match the 10.1 reported for July.
United Kingdom – Net consumer credit is expected to show an increase of £100 million in June to £1.1 billion after rising to £1.0 billion in May. Net lending securities on dwellings are set to come in at £2.0 billion for the month of June which would follow the £2.1 billion reported in the previous month.
United Kingdom – The UK housing market may enjoy an increase in activity as mortgage approvals are expected to rise to 66,000 in June from the 64,400 reported in May.
United States – Economists expect pending home sales to increase by 1.0% in June month-over-month and to surge by 12.0% year-over-year. This would follow the 0.9% increase and 8.3% surge reported in May respectively.
United States – The Energy Information Agency is expected to report a drawdown of 300,000 barrels from crude oil inventories for the week ending July 24th 2015. This would follow the build-up of 2,468,000 barrels which was reported in the week ending July 17th 2015.

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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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