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BINARY TRADING ON THE EUR/USD TODAY

OIL-APR17 (BRENT) 56.090 17:10 24.02
GENERAL MOTORS 37.125 17:10 24.02
JP MORGAN CHASE 89.995 17:10 24.02
PFIZER 34.155 17:10 24.02
MASTERCARD 110.400 17:10 24.02
WAL-MART 72.7450 17:10 24.02
McDONALD'S 128.385 17:10 24.02
DOW 20767.61 17:10 24.02
S&P 500 2359.770 17:10 24.02
GOLD/EUR 1187.155 17:10 24.02
COFFEE-MAR17 143.7250 17:10 24.02
SUGAR (11)-MAR17 19.7850 17:10 24.02
SILVER 18.386 17:10 24.02
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By: Adam Stone
May 8th 2014 6:10am GMT, London UK
 

Binary options traders start the day with just a bit of possible confusion over the equity markets inability to get on any significant trend. But equity markets aren’t the only thing happening out there these days and most binary options traders, since the opening of forex trading on the GOptions platform, have been focusing on some more advanced trading scenarios. Specifically, the use of hedges with binary options trades while running larger and more pronounced positions using direct forex trades have become quite the norm of late.

According to Eduardo Castillo, part of dealing room team, has summed it up by stating that “forex trading on the GOptions platform has literally changed everything. With the possibility of using both binary and straight up forex on the same platform, traders can now properly trade using long and short hedges while taking larger positions. For the brokerage, this is obviously great as we see more volume and that’s our only interest. But for the traders, this is a boon. The ability to hedge positions allows taking larger controlled risk while mitigating bad moves in the market.”

For binary options traders today, forex trading will be the way to go, without doubt. The move lower over the last 24 hours by the EUR/USD looks to have the momentum needed to carry on lower. The strengthening USD looks to have made its mark across the forex trading spectrum of pairs and binary options traders can try to take advantage again today.

For starters, a move below the current support level of 1.3906 looks likely. However, don’t expect this to happen in the coming hours. It will take a while for this to be possible and binary options traders will do well to look to other possibilities primarily the possibility of reversal in the works. What we mean is that the market could come back down again from the current level near 1.3912 towards the support and bouncing right off of it. This test of the support is exactly what we seek on this day. The ability to take on reversal strategies.

EURUSD with Binary options 8-5-2014

Look for this as the way to take advantage today in the forex markets. But if you are looking for a wider reaching strategy could use a break strategy if and when the lower boundary at 1.3906 break to the downside. Take a down forex trade (BID) with a larger trade on any break and hedge using a binary options up option for and end of day trade. This will likely mitigate the risk while allowing traders to take full advantage of the possible moves in the market.

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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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