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EURCHF BINARY CALL OPTION – NOVEMBER 27TH 2014

EUR/USD 1.06062 00:30 21.02
NZD/USD 0.71666 00:30 21.02
AUD/CAD 1.00763 00:20 21.02
BitCoin/CNY 7290.305 00:00 21.02
AUD/NZD 1.07178 00:00 21.02
NZD/USD 0.71742 00:00 21.02
EUR/AUD 1.37969 00:00 21.02
CAD/JPY 86.436 00:00 21.02
NZD/JPY 81.265 00:00 21.02
AUD/USD 0.76895 00:00 21.02
AUD/JPY 87.098 00:00 21.02
GBP/JPY 141.280 00:00 21.02
EUR/JPY 120.171 00:00 21.02
USD/JPY 113.272 00:00 21.02
EUR/USD 1.06089 00:00 21.02
NZD/JPY 81.332 23:30 20.02
AUD/USD 0.76855 23:30 20.02
AUD/JPY 87.028 23:30 20.02
EUR/JPY 120.162 23:30 20.02
EUR/USD 1.06119 23:30 20.02
USD/JPY 113.238 23:30 20.02
BitCoin/CNY 7186.225 23:00 20.02
AUD/NZD 1.06976 23:00 20.02
NZD/USD 0.71849 23:00 20.02
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By: Adam Stone
November 27th 2014 4:07am 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 1.2020
• Upside Potential: The upside potential for this binary call option is 50 pips to 1.2070
• Downside Potential: The downside potential for this binary call option is 20 pips to 1.2000

The EURCHF has attempted to breakout above its tight trading range after it halted its downward move with an intra-day low of 1.2009 reached on November 19th 2014. Preceding this intra-day low was an intra-day high of 1.2068 which was reached on October 31st 2014. The EURCHF enjoyed a swift move higher which reached an intra-day high of 1.2033 on November 25th 2014 before reversing to the downside. This move allowed for the creation of a descending resistance level and left the EURCHF trapped inside a triangle formation.

EURCHF

Price action is now trading inside this triangle formation from where pressures are building for this currency pair to stage its next extended move. The EURCHF is expected to breakout above its triangle formation given the threat of intervention by the Swiss National Bank. Binary options traders can benefit from the expected breakout with binary call options. Today’s binary options trading strategy suggests call options to be placed on dips below 1.2020 for a risk/reward ratio of 1.0/2.50.

A spike in volatility is expected as pressures are building up inside the triangle formation for the EURCHF to either breakdown below its ascending support level and extend its move to the downside or to breakout above its descending resistance level and accelerate to the upside. Given the threat of central bank intervention by the Swiss National Bank the EURCHF is expected to breakout and challenge its intra-day high of 1.2068 which was reached on October 31st 2014. This favors binary call options in the EURCHF currency pair.

The first resistance level awaits the EURCHF at its intra-day high of 1.2033 which was reached on November 25th 2014. This level represents the intra-day high reached during the previous move to the upside. A breakout above this level will take this currency pair to its intra-day high of 1.2057 which was reached on November 6th 2014. The final resistance level is located at its intra-day high of 1.2068 which was reached on October 31st 2014 from where a double top formation may hinder a further acceleration to the upside.

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

Eurozone Economic Confidence, Industrial Confidence and Services Confidence for the month of November:

• Expectations: Economic Confidence at 100.3, Industrial Confidence at -5.5 and Services Confidence at 4.0
• Previous Report’s Data: Economic Confidence was reported at 100.7 in October, Industrial Confidence at -5.1 and Services Confidence at 4.4
• Impact on the Euro: The expected slowdown in confidence data out of the Eurozone is likely to be overshadowed by economic data out of Switzerland; 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:

Annualized Industrial Production for the third-quarter of 2014:

• Expectations: An annualized increase of 2.6% is expected for the third-quarter
• Previous Report’s Data: An annualized increase of 3.1% was reported in the second-quarter
• Impact on the Swiss Franc: The anticipated slowdown in annualized industrial production for the third-quarter is expected pressure the Swiss Franc to the downside 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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