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By: Adam Stone
January 31st 2014 7:30am GMT, London UK

Good news help push back the bears and send the markets higher. This just a few days removed from one of the bleakest days of trading thus far this year. The markets were spurred by the crucial release of a GDP figure that met expectations at 3.2%. While this isn’t some fantastic figure that would ordinarily be able to push markets much. But the sensitivity of the markets allowed this release to be a reason for celebration and as a result the S&P and Dow both climbed more than 1% on the day.

For the day ahead, not much news will be able to dictate the moves in the markets as the only but of news of significance is a late day release of the Consumer Sentiment Index. While important and followed by most every trader, it just comes to late in the day to make much of an impact.

As such, binary options traders will likely keep focused on the EUR/USD as it has reached its lowest level in over a month. The support level at 1.3550 was broken midday yesterday and hasn’t retreated as yet. The level is now the resistance and will provide ample opportunities for binary options traders to use the level as a pivot of sorts for both break and reversal strategies in the day ahead. Take note, the level is likely to leave many disappointed with a few false breaks as the market is now exhibiting an undecided stance in neutral momentum territory for the RSI and MACD. In technical analysis, such situations are to be avoided unless a true break is seen or at least 3 tests of the resistance prior to taking a trade.

So as long as binary options traders tend to stay clear of the high risk situations and focus on those lower risk scenarios, things should go rather well.

EUR/USD with binary options 31-1-2014

For those looking for other fast movers, Facebook stock (FB) could be of great interest. After all, the stock has now climbed above 60 for the first time. It was met with a massive gap formed yesterday at the opening bell. The market will tend to close this gap but due to the very strong uptrend, don’t expect this gap to be closed in the coming session. As such, binary options traders will be able to take up options on a break above the resistance at 62.5.

Any break above this level will allow binary options traders to find themselves in the type of low risk trades we seek on a daily basis. Look for more to come from other stocks like Google (GOOG) as well which has had a very strong week after selling off its Motorola handset division while retaining the majority of its patents, which was the real prize of the deal originally struck back in Google’s purchase of Motorola’s division back in 2012. The market was very positive about this sale as it leaves Google closer to its core DNA, software and sheds the hardware that Google is now quite as adept at developing which is Lenovo’s problem now.

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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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