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BINARY OPTIONS TRADING TODAY

EUR/USD 1.07698 08:10 06.12
FTSE F-DEC16 6745.750 08:00 06.12
USD/RUB 63.806 08:00 06.12
USD/CHF 1.00590 08:00 06.12
OIL-FEB17 (BRENT) 54.685 08:00 06.12
COPPER-NOV16 2.6553 08:00 06.12
NZD/CHF 0.71775 08:00 06.12
CAD/CHF 0.75864 08:00 06.12
NZD/USD 0.71357 08:00 06.12
EUR/AUD 1.44544 08:00 06.12
CAD/JPY 85.854 08:00 06.12
AUD/USD 0.74454 08:00 06.12
AUD/JPY 84.756 08:00 06.12
GBP/USD 1.27552 08:00 06.12
VTB BANK 0.068930 08:00 06.12
TENCENT HOLDINGS 190.150 08:00 06.12
ROSNEFT' 350.875 08:00 06.12
GOLD VS SILVER 69.8109 08:00 06.12
EUR/GBP 0.84379 08:00 06.12
OIL-JAN17(WTI CRUDE) 51.435 08:00 06.12
SILVER 16.805 08:00 06.12
GOLD/EUR 1090.185 08:00 06.12
GOLD 1173.311 08:00 06.12
NASDAQ F-DEC16 4779.125 08:00 06.12
GOLD VS OIL 21.4558 08:00 06.12
USD/CAD 1.32590 08:00 06.12
S.BANK INDIA 259.675 08:00 06.12
AXIS BANK 460.725 08:00 06.12
TATA STEEL 414.100 08:00 06.12
TATA MOTORS 443.150 08:00 06.12
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By: Adam Stone
June 4th 2014 6:05am GMT, London UK
 

Binary options traders are awakening to a glut of negativity as US stocks fell alongside many commodities as USD valuation remained under pressure to the downside for much of the last 24 hours. Traders are watching as the markets get more and more volatile leading into the NFP Friday trading session. However, not much in the way of fresh news is available and as such, the trading atmosphere is a rather heated and volatile one. For example, the EUR/USD is still stuck in a range however, the formation on the charts has gone from unpredictable to classic. There is now a formation of a double top on the 30 minute charts and this is interesting for a number of reasons.

The EUR/USD has been trapped in a range for much of the last 5-6 trading sessions. The range is now solidified with this new formation of a double top with resistance at 1.3648 which also has Fibonacci significance as it’s the previous resistance from the move lower 3 months ago. The resistance is limiting the way up for the currency pair and due now to the double top, it looks fairly certain that a break higher is all but finished for the coming week if not more. Binary options traders will thus do well to keep focused on the down side as the currency slides past the support at 1.3590. At least this is the expectation but the timing of it all is still a little murky, we admit.

EURUSD with binary options 4-6-2014

The problem with the structure of the double top, most classicist would argue, is that there were virtually no tests of the actual top. It was just a one off on each occasions and this depresses the validity of the actual formation. It’s still a double top, of this there is no means of denying. However, making accurate predictions when the formation isn’t a pure pattern formation becomes difficult.

Looking to the downside today should prove positive though. Despite the slide in equities and equity indices yesterday, we expect the USD to continue to make a push higher today. Look for further moves in other major currencies to corroborate this move. However, don’t expect perfect correlated moves today. For example, the USD/JPY is moving to its own beat these days and the other majors all seem to be in a hanging or waiting pattern. So be patient as things heat up.

This is especially important considering the release of the ADP report today at 12:15 GMT today. The ADP, a precursor to the ever-hyped NFP report, is a measure of the private sector’s job creation status. The bigger the figure, the better.

ADP Employment
Prior: 220,000
Consensus: 210,000
Consensus Range: 120,000 to 235,000

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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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