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EURCHF BINARY CALL OPTION – APRIL 1ST 2015

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By: Adam Stone
March 31st, 2015 5:12am 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 1.0450
• Upside Potential: The upside potential for this binary call option is 305 pips to 1.0755
• Downside Potential: The downside potential for this binary call option is 150 pips to 1.0300The EURCHF has formed a double bottom formation inside of its horizontal support level. The first part of the bullish chart pattern was formed by its intra-day low of 1.0421 which was reached on March 24th 2015. After a false breakout above its horizontal support level price action reversed and the second part of the double bottom was formed by its intra-day low of 1.0419 which was recorded yesterday on March 31st 2015. The EURCHF is expected to stabilize inside of its horizontal support level and advance into its descending resistance level from where a further breakout is favored.

EURCHF

Price action is currently trading inside of its horizontal support level and is drifting away from its most recent intra-day low. The EURCHF is expected to enter a full price action reversal fueled by its double bottom formation. Binary options traders can take advantage from the anticipated reversal with binary call options. Today’s binary options trading strategy suggests call options to be placed on dips below 1.0450 for a risk/reward ratio of 1.0/2.03.

Volatility contracted during the corrective phase which developed from its intra-day high of 1.0755 recorded on March 6th 2015. This move preceded the emergence of the double top formation, and an increase in volatility is expected as sellers are likely to attempt a continuation of the downtrend and force a breakdown below its horizontal support level. Buyers are anticipated to take advantage of the double bottom formation and pressure this currency pair back into its descending resistance level from where a breakout is expected. This favors binary call options in the EURCHF currency pair.

The EURCHF will face its first resistance level at its intra-day low of 1.0514 which was recorded on March 13th 2015. This level represents the low recorded during a previous corrective phase. A breakout above this level will take the EURCHF to its descending resistance level around the 1.0610 mark, from where a further breakout will lead the way to the next resistance level its intra-day high of 1.0700 which was recorded on March 19th 2015. This level represents the bottom of its horizontal resistance level. The final resistance level awaits the EURCHF at its intra-day high of 1.0755 which was reached on March 6th 2015.

The following economic data out of the Eurozone is expected to impact the base currency, the Euro, of the EURCHF currency pair:
Final Eurozone Manufacturing PMI for the month of March:
• Expectations: A final level of 51.9 is expected for the month of March
• Previous Report’s Data: An initial level of 51.9 was reported in the month of March
• Impact on the Euro: The expected level for the final Eurozone Manufacturing PMI 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:
SVME Purchasing Managers Index for the month of March:
• Expectations: A level of 47.5 is expected for the month of March
• Previous Report’s Data: A level of 47.3 was reported in the month of February
• Impact on the Swiss Franc: The anticipated level for the SVME PMI may not suffice to support a stronger Swiss Franc 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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