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BINARY OPTIONS TRADING ON GOLD

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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By: Adam Stone
June 20th 2014 7:26am GMT, London UK
 

Another volatile day of equity trading finished with the S&P again in record breaking territory but also left binary options traders with a weaker USD and much stronger price of Gold. The price of Gold specifically shot up higher above $1300 an ounce and made its biggest single day move in over months. The commodity made it all the way to 1321 before settling near the price of 1312. Gold is now trading in or around 1313 and looking to move further up the safe haven ladder.

The reason the price of Gold has moved higher is primarily due to the weakness of the USD which is now trading near 1.3624 agains the EUR. The forex pair has been up and down for much of the week, but looking at the coming trading session, it seems as though the USD will struggle to recoup and as such, pressure will not likely abate on the dollar to the downside.

The EUR/USD is now considered a strong buy by nearly every technical indicator and binary traders would do well to keep focused on the uptrend whilst leaving, for now, the thought of a USD comeback. News for the day is likely to remain light which will keep the momentum fresh and stiff in the face of USD strengthening. As such, the binary world is likely to wait for a break above the resistance at 1.3699, which although is a fair distance away, is still a likely target for the day ahead. Support is currently listed in the region of 1.3583 making for a rather wide range of trading. For many binary options traders this range will be too wide and conclude with little to no volume on the forex pair. In fact, our dealing room is already prepared for low liquidity pools for the day ahead.

What this means to binary options traders is that they might need to seek better turn around potential in ladder options or straight up forex trading*. With ladder options, a strong move will signal upcoming events and provide a very transparent footprint on the payout of ladder options. The more likely the move higher, the lower the payout and vice versa. This is an easy way to get prepared for the day ahead.

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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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