+1 (866)-882-6854
+ 44 203-807-1675
Chat
09:06:21 GMT
Black & White

EURGBP BINARY CALL OPTION – NOVEMBER 12TH 2014

BitCoin/CNY 6349.755 09:00 24.01
FTSE F-MAR17 7091.500 09:00 24.01
USD/RUB 59.148 09:00 24.01
USD/NOK 8.35090 09:00 24.01
USD/CHF 0.99882 09:00 24.01
OIL-MAR17 (BRENT) 55.585 09:00 24.01
SBERBANK 168.830 09:00 24.01
GAZPROM 149.230 09:00 24.01
NZD/CHF 0.72218 09:00 24.01
CAD/CHF 0.75336 09:00 24.01
NZD/USD 0.72303 09:00 24.01
CAD/JPY 85.407 09:00 24.01
AUD/USD 0.75683 09:00 24.01
AUD/JPY 85.697 09:00 24.01
GBP/USD 1.24934 09:00 24.01
EUR/USD 1.07478 09:00 24.01
TADAWUL 7081.200 09:00 24.01
VTB BANK 0.068665 09:00 24.01
ROSNEFT' 388.950 09:00 24.01
OIL-FEB17(WTI CRUDE) 52.550 09:00 24.01
SILVER 17.145 09:00 24.01
GOLD/EUR 1129.375 09:00 24.01
USD/JPY 113.236 09:00 24.01
EUR/JPY 121.703 09:00 24.01
GOLD VS OIL 21.8394 09:00 24.01
USD/CAD 1.32582 09:00 24.01
S.BANK INDIA 255.775 09:00 24.01
AXIS BANK 448.900 09:00 24.01
TATA STEEL 464.325 09:00 24.01
TATA MOTORS 541.725 09:00 24.01
X
We apologize for the inconvenience, registration from your state is disallowed.
By: Adam Stone
November 12th 2014 5:34am GMT, London UK

Today’s Binary Options Trading Strategy:
• Currency Pair: EURGBP
• Timeframe: H4 (Hourly Chart)
• Binary Option Trading Recommendation: Seek binary call options on dips below 0.7830
• Upside Potential: The upside potential for this binary call option is 215 pips to 0.8045
• Downside Potential: The downside potential for this binary call option is 100 pips to 0.7730

The EURGBP has now stabilized after an extended move to the downside took this currency pair from an intra-day high of 0.8046 which was reached on October 15th 2014 to an intra-day low of 0.7799 which was reached on November 6th 2014. A sideways trend has developed and formed a new horizontal support level which has eroded the downward momentum. The horizontal support level has been pierced by a descending resistance level which may exercise further downward pressure on the EURGBP, but is unlikely to succeed into forcing a further breakdown for an extension of the move lower.

Price action is now drifting inside its new horizontal support level and approaching its descending resistance level. The EURGBP is expected to successfully breakout above its descending resistance level and accelerate to the upside. Binary options traders can take advantage from the expected breakout with binary call options. Today’s binary options trading strategy suggests call options to be placed on dips below 0.7830 for a risk/reward ratio of 1.0/2.15.

Volatility has been deflated during the sideways trend, but as price action is trading around its descending resistance level volatility is expected to gradually improve. Sellers are anticipated to launch one final attempt at a breakdown below the new horizontal support level with the assistance of the descending resistance level. Any sustained move to the downside is not expected to last and buyers are favored to take control of price action, gather enough positive momentum and launch a breakout from where the EURGBP is likely to accelerate to the upside.

The first resistance level, after a successful breakout above its descending resistance level, awaits the EURGBP at its intra-day high of 0.7912 which was reached on October 29th 2014. This level has previously reversed a drift to the upside and pushed this currency pair into its most recent intra-day low. A breakout above this level will take the EURGBP to its intra-day low of 0.7947 which was reached on October 16th 2014. The final resistance level is located at 0.8046 which was reached on October 15th 2014 and from where a double formation may develop.

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

Eurozone Industrial Production for the month of September:

• Expectations: A monthly increase of 0.7%, an annualized contraction of 0.2%
• Previous Report’s Data: A monthly contraction of 1.8% was reported in August, an annualized contraction of 1.9%
• Impact on the Euro: The expected monthly increase in industrial production out of the Eurozone is expected to provide enough momentum to rally the Euro which favors binary call options in the EURGBP currency pair

In addition the following economic report out of the United Kingdom is expected to impact the quote currency, the British Pound, of the EURGBP currency pair:

Bank of England Inflation Report:

• Expectations: It is expected that the Bank of England will mention the decrease in inflationary pressures and use it to partially explain the delay of an interest rate increase
• Impact on the British Pound: The further delay of an increase in interest rates is expected to apply renewed downward pressure on the British Pound; this favors binary call options in the EURGBP 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