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BINARY OPTIONS TRADING ON THE EUR/USD ?

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
July 11th 2014 4:44am GMT, London UK
 

Binary options trading kicks off today again in a somewhat murky and disjointed manner. With the US stock markets falling again yesterday and failing to register a break above the now critical 2000 level (for the S&P) many investors are showing their jittery predisposition to a lack of direction. As a result, the markets are seemingly off kilter. The S&P dropped 0.41% to 1964. Stranger yet, almost all of the major Asian indices headed higher earlier this morning with the striking exception of the NIKKEI which did follow the trend in the US and fell as well.

The Japanese index lost 0.53% on the day to 15135 and looks rather unstable of late. Despite a great push higher for much of 2014, the index has been unable to carry on higher in recent days, much like the week that has past for the S&P in the US. Poor data coming from the EU didn’t help matters but even there things weren’t one sided. Despite negative news from Portugal’s banking sector and economic indicators showing weakness across Germany, Italy, and France some of the stock indices headed higher. This lack of correlation between news and market results tends to spoil good trends rather quickly.

For binary options trading today, we expect forex to take most of the focus as a result of this lack of transparency. Ordinarily news has a more direct and immediate effect on the financial markets. But when this gets a bit bent out of shape, we opt for more directly tradable assets like the forex pairs. Binary options trading on forex becomes much easier for both the uninitiated as well as the most veteran of traders.

Then again, with the recent moves of the EUR/USD, it might be just as seemingly difficult here. But that’s not the case. Despite the EUR/USD pushing back lower, after breaking above the resistance at 1.3640 only to break back lower, the forex pair is very well supported above 1.3585. Binary options trading on the pair will be able to be taken advantage of in rather quick succession. One good trade we see with the forex pair is the potential break of 1.3585. Despite being a very strong support, it’s very possible it break and if this support level break today, it will usher in a new move lower well past the support and with great follow through. The fact that this level hasn’t been broken in quite a while will add to the impetus. This is very important for binary options trading for a number of reasons, but the most important of these is the profitability of trades.

If you take a great trade with the wrong expiry associated with it, you will lose. However, if you choose the asset and direction with the greatest follow through potential, you increase your chances of bringing home a win on a trade for the simple reason that you are in essence buying time. The more follow through, the more time the asset will spend below/above the critical support or resistance.

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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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