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By: Adam Stone
May 27th 2014 5:35am GMT, London UK

Yesterday we provided a very in-depth analysis of how to contend with today’s trading session, particularly on the S&P which has a great deal of potential for binary options traders coming off their Memorial Day weekend. The analysis can be found here: http://www.goptions.com/binary-options-traders-break-higher or by clicking here. But the S&P isn’t the only game in town for binary options traders.

Forex trading will likely be the primary focus for the day ahead. As we explained in Friday’s edition, the EUR/USD looked poised to for a slight comeback. After reaching the support level at 1.3615, the forex pair headed back higher and is now trading near 1.3660 after already reaching as high as 1.3675. The day head could prove critical for the forex pair seeing as how we are expecting serious moves for the pair. The fact is, the current formation on the daily and intra-daily charts is pointing towards higher volatility. This is founded on both a technical analysis of the price action but also on the fundamental response to a long weekend out of the markets by both the US and UK. This should spur trading into higher gear today and we expect the markets to continue pressuring the EUR to the high side.

The current local resistance is the high reached just a number of hours ago at 1.3675. However, this isn’t a very critical or noteworthy resistance. At least not at the moment. We don’t expect this resistance to put up much of a fight if tested if at all. Binary options traders would do well to steer clear of reversal trades based on this level and in fact, other than pure break strategies, this level poses no real interest to us. But it is the first resistance in a long line of small and local levels of note.

After 1.3675, the 1.3694 level and the 1.3710 resistances are of high importance and significance. The 1.3694 level will be the first level we recommend trying to utilize reversal strategies with. By the time the market reaches and tests this level today, the market will likely have run out of steam already and thus allow the use of small trades as reversals on each test.

EURUSD with binary options 27-5-2014

If a break occurs, which as stated above, we do expect, then the 1.3710 level will be the next resistance of significance. This is the level the signaled the continuation towards the 1.36 level on the way down. Now on the way back up, this level is of consequence and weight. We don’t sincerely believe that the market has enough momentum to break past the previous level but if that does occur, expect a much more dramatic display of resistance at 1.3710 and this will certainly lead to reversal strategies coming into play.

The signals created by this reversal stratregy based on this pivot level will lead to the lowest level of risk available. These are the type of forex trades that could lead to the best profit margins for binary options traders today.

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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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