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By: Adam Stone
February 19th 2014 6:25am GMT, London UK

Despite the roar heard from Japan in the opening session of the week, binary options traders are witnessing a very tepid response from the rest of the world. Ordinarily, strong stimulus adds momentum to both the local and neighboring economies. However, after the Bank of Japan decided to double the amount of stimulus into the Japanese economy world markets seemed to have been rattled by the prospect that the Japanese economy is actually much weaker than previously thought. The fact that the economy needs this much of a push has led analysts and investors to think that other neighboring economies are weak as well. Although no indication of a Korean bank intervention or such moves by the Thai, Chinese, or Indonesian banks – the general sensation in the market is one of trepidation about the “what if”.

For binary options traders, that “what if” is the reason to enter into the market at any given moment. What traders seek at this juncture is the possibility of a big move on indices, much like what was seen in Japan early yesterday on in the US late last week. Such strong movements in the price action are exactly what binary options traders are looking for on days like this. But it’s going to be hard to find on index trading today considering the mixed reactions in the US yesterday.

The US session closed with the S&P up higher by 0.12% to 1840. However, the Dow closed lower by 0.15% to 16130. For the day ahead, binary options traders might be looking higher with the S&P, but with the shackles and weight of a negative previous day on the Dow might leave traders hard pressed to find a solid signal. If however the S&P blows past resistance at 1850. However, this is a very high figure to expect the market to break today but it’s entirely possible. Note that the resistance level is certainly first and foremost 1850, but the local resistances below might be used by reversal strategists to take down options on a test. These resistances include the closing price of 1844 from over a month ago. This level was reached a number of times since its first touch in December.

Screen Shot 2014-02-19 at 8.13.59 AM

Look today for lots of volatility once the US session begins as many indicators are expected to be released in the minutes after the opening bell. This will be possibly most easily seen in the way the EUR/USD trades today. Of course, the GBP/USD and USD/JPY may exhibit similar price action, the immediate target will be the EUR/USD and as such, expect movements to be first felt there. Once that happens, things can cause indices and other currency pairs to go in different directions

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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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