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By: Adam Stone
October 30th 2014 8:32am GMT, London UKToday’s Binary Options Trading Strategy:

• Currency Pair: EURCHF
• Timeframe: H4 (Hourly Chart)
• Binary Option Trading Recommendation: Seek binary call options on dips below 1.2065
• Upside Potential: The upside potential for this binary call option is 70 pips to 1.2135
• Downside Potential: The downside potential for this binary call option is 25 pips to 1.2040

The EURCHF has now developed a sideways trend after a move lower took this currency pair from its intra-day high of 1.2139 which it reached on October 7th 2014 to its intra-day low of 1.2053 which it reached on October 27th 2014. The EURCHF has been exposed to uncertainty out of the Eurozone which was the reason behind the most recent move lower as well as the preceding move higher. Potential intervention by the Swiss National Bank has placed a floor under the downward move.

Price action continues to trade sideways around its horizontal support area, but the EURCHF is expected to gather momentum for a move higher in order to test its most recent intra-day high. Binary options traders can profit from the anticipated move higher with binary call options. Today’s binary options trading strategy suggests call options to be placed on dips below 1.2065 for a risk/reward ratio of 1.0/2.80.

EURCHF. with binary options

Volatility has receded during the sideways trend, but is expected to increase as the EURCHF attempts a sustained move higher. Buyers as well as sellers have not been able to successfully create a trend and are currently in a low volatility stand-off at its horizontal support level. Given the risk of intervention by the Swiss National Bank and the current level of the EURCHF, buyers are expected to gain the upper hand which favors binary call option in the EURCHF currency pair.

The next resistance level for the EURCHF is located at its intra-day high of 1.2079 which was reached on October 20th 2014 and previously reversed a drift higher into its most recent intra-day low. A breakout above this level will take the EURCHF to its intra-day high of 1.2117 which was reached on October 9th 2014 and marked the end of a move higher. The final resistance level awaits the EURCHF at its intra-day high of 1.2139 which it reached on October 7th 2014.

The following economic data out of the Eurozone is expected to impact the base currency, the Euro, of the EURCHF currency pair:

German Consumer Price Index for the month of October:

• Expectations: A monthly contraction of 0.1%, an annualized increase of 0.9%
• Previous Report’s Data: A monthly reading of 0.0% was reported in September, an annualized increase of 0.8%
• Impact on the Euro: The expected increase in consumer inflation out of Germany, the biggest economy in the Eurozone, should suffice to pressure the Euro higher; this 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 October:

• Expectations: A reading of 99.2 is expected for the month of October
• Previous Report’s Data: A reading of 99.1 was reported for the month of September
• Impact on the Swiss Franc: The expected increase in the KOF leading indicator may not be strong enough to push the Swiss Franc higher which 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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