+1 (866)-882-6854
+ 44 203-807-1675
Chat
11:38:44 GMT
Black & White

EURCHF – SEPTEMBER 8TH 2014

BITCOIN 781.950 11:20 03.12
BitCoin/CNY 5382.550 11:20 03.12
BITCOIN 782.045 11:00 03.12
BitCoin/CNY 5383.210 11:00 03.12
BITCOIN 782.136 10:40 03.12
BitCoin/CNY 5383.835 10:40 03.12
BITCOIN 782.186 10:20 03.12
BitCoin/CNY 5384.175 10:20 03.12
BITCOIN 782.498 10:00 03.12
BitCoin/CNY 5386.325 10:00 03.12
BITCOIN 780.288 09:40 03.12
BitCoin/CNY 5371.115 09:40 03.12
BITCOIN 781.315 09:20 03.12
X
We apologize for the inconvenience, registration from your state is disallowed.
By: Adam Stone
September 8th 2014 6:25am 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 1.2065
• Upside Potential: The upside potential for this binary call option is 75 pips to 1.2140
• Downside Potential: The downside potential for this binary call option is 40 pips to 1.2025

The EURCHF has remained stable despite the surprise interest rate cut by the European Central Bank which has plunged the Euro into a sharp correction. The EURCHF is the sole currency pair which escaped the volatility spike, but has been in a corrective phase of its own. This currency pair is trapped in its current trend after reaching an intra-day high of 1.2142 which it reached on August 12th 2014 while recording an intra-day low of 1.2027 on September 7th 2014.

EURCHF

Price action is currently in the process of forming a double bottom formation which is a bullish chart pattern and may create a platform for the EURCHF to reverse its current correction and move higher. Binary options traders can profit from the expected move higher with binary call options. Today’s binary options trading strategy suggests call options to be placed below 1.2065 for a risk/reward ratio of 1.0/1.88.
Sellers may attempt to test and violate the double bottom formation which could result in a false breakdown. The bullish chart pattern is very solid and while an increase in volatility is expected binary options traders should take any level below 1.2050 as a better entry opportunity for binary call options in the EURCHF currency pair. A sustained breakdown below 1.2045 is not expected.

Initial resistance for the EURCHF awaits this currency pair at 1.2090 which is an intra-day high reached on September 3rd 2014 and marks a reversal point from where a previous rally faltered. A successful breakout will lead the EURCHF to the 1.2116 which is an intra-day high reached on August 21st 2014 from where the correction gather steam until it reached its intra-day low of 1.2045. The next resistance stands at the intra-day high of 1.2142.

The following economic data out of the Eurozone is expected to impact the base currency, the Euro, of the EURCHF currency pair:
German Trade Surplus, Import & Export Data for the month of July:

• Expectations: A trade surplus of €16.8 billion, imports increase of 0.2% and exports increase of 0.6%
• Previous Month’s Data: A trade surplus of €16.5 billion, imports increase of 4.5% and exports increase of 0.9%
• Impact on the Euro: The expected increase in Germany’s trade surplus, which is the biggest economy in the Eurozone, could spike the Euro higher 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:

Consumer Price Index for the month of August:

• Expectations: A contraction of 0.1% monthly and an annualized reading of 0.0%
• Previous Month’s Data: A contraction of 0.4% monthly for July and an annualized reading of 0.0%
• Impact on the Swiss Franc: The continued monthly deflation and absence of annualized inflation in consumer prices is expected to put downward pressure on the Swiss Franc which favors binary call options in the EURCHF currency pair

Share Button
Adam Stone
Follow me

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
Follow me

Start Trading with the most professional mobile platform, always on the GO
Play StoreApp Store