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By: Adam Stone
March 17th 2014 8:45am GMT, London UK

Binary options trading starts the new week on a fairly sour note, at least in so far as US indices and performance is concerned. It’s a period of tumult exhibiting itself in nearly every facet of the trading environment of late. With worry over the Crimean referendum, middle east issues resurfacing, and the American economic conundrum. Nothing really seems to be able to create any sense of optimism at the moment and this is evidenced by the lack or rather unwillingness of binary options traders to come near performance based assets like stocks and stock indices. As we’ve explained in the past few weeks, binary options traders have a collective response of avoiding indices just before they head downwards.

So while indices like the S&P and DOW haven’t really fallen apart, they surely haven’t been able to muster up any sort of trend. Indeed, binary options traders who are fully capable of taking down as easily as up options, are simply steering clear of benchmark indices and other performance based assets. The focus back on forex and commodities is overwhelming and we are beginning to believe the pattern therein is one to keep a close eye on in the future as well.

But for now, with renewed interest in forex pairs, the uptrend of the EUR/USD will be tested and questioned throughout the trading day. How will binary options traders react to the recent moves of the forex pair? First, let’s recap the preceding trading week. The 12th of the month, last week, saw the forex pair shoot higher with incredible force as the EUR/USD appreciated from 1.3850 to 1.3965 in a matter of a few hours. That trend was abruptly halted for what appears to be a simply corrective move but that correction worked out to be a 100% retracement (Fibonacci) and created a full trading channel. The move downward was just as fast as the ascent and being a 100% retracement, Fibonacci based levels of pivots and reversals will surely be closely monitored today. The large range now causes problems for day traders as the significant supports and resistances are likely too far to be tested on a quiet news day, which Mondays tend to be.

The pair is currently trading near 1.3865 and looking to build up its volatility indices (underlying “Greeks”). Binary options traders looking to “buy volatility” will be able to do so simply by take up options on ever break of weaker resistances centering around the intraday level of 1.3901. The proximity of the level will allow binary traders who are able to act quickly to create quick profits if all pans out in a purely technical manner.

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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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