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By: Adam Stone
September 30th 2014 6:00am GMT, London UK

Today’s Binary Options Trading Strategy:

• Currency Pair: EURCHF
• Timeframe: H4 (Hourly Chart)
• Binary Option Trading Recommendation: Seek binary call options on dips below 1.2070
• Upside Potential: The upside potential for this binary call option is 50 pips to 1.2120
• Downside Potential: The downside potential for this binary call option is 30 pips to 1.2040

The EURCHF continues to trade alongside its double support level which is comprised of its ascending support line as well as its horizontal support line. This currency pair has been trapped in a rectangular chart pattern and has not violated support and resistance levels. Price action is confined to an intra-day low of 1.2044 which it reached on September 4th 2014 and an intra-day high of 1.2118 which it reached on September 10th 2014.
Price action has been trading sideways alongside its horizontal support line, but is now experiencing upward pressure from its ascending support line. Binary options traders can capitalize on the expected move upward with binary call options. Today’s binary options trading strategy suggests call options to be placed on dips below 1.2070 for a risk/reward ratio of 1.0/1.67.

Binary options with EURCHF 2014-30-9

Volatility has been relatively low over the past few trading weeks which resulted in a decrease in overall price movements. The horizontal support line is a very solid support level and sellers were unable to force a breakdown. Buyers in the EURCHF have been reluctant to push this currency pair higher, but the ascending support level is expected to put upward pressure on this currency pair in order to test its horizontal resistance level once again.

The expected move higher will face its first resistance test at the 1.2089 level which is an intra-day high reached on September 25th 2014 and represents a level which halted the previous attempt to move higher before price action was reversed back down to its support level. A successful breakout will take this currency pair to the 1.2100 level where psychological resistance could challenge an advance. The final resistance level awaits the EURCHF at its intra-day high of 1.2118 reached on September 4th 2014.
The following economic data out of the Eurozone is expected to impact the the base currency, the Euro, of the EURCHF currency pair:

Eurozone Consumer Price Index for the month of September:

• Expectations: An annualized increase of 0.3%, an annualized increase of 0.9% in the core CPI
• Previous Report’s Data: An annualized increase of 0.4% was reported in August, an annualized increase of 0.9% in the core CPI
• Impact on the Euro: The unchanged reading in the annualized core CPI and further slowdown in the CPI could pressure the Euro lower which favors binary call options in the EURCHF currency pair

In addition the following economic report out of Switzerland is expected to impact the quote currency, the Swiss Franc, of the EURCHF currency pair:

KOF Leading Indicator for the month of September:

• Expectations: A reading of 99.0 is expected for the month of September
• Previous Report’s Data: A reading of 99.5 was reported for the month of August
• Impact on the Swiss Franc: The KOF reading, should expectations be met, is not expected to move the Swiss Franc; this favors binary call options in the EURCHF currency pair

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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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