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By: Adam Stone
August 12th 2014 6:27am GMT, London UK
Today’s Binary Options Trading Strategy:

• Currency Pair: EURUSD
• Timeframe: H4 (Hourly Chart)
• Binary Option Trading Recommendation: Seek call options on dips below 1.3380
• Upside Potential: The upside potential for this call option is 160 pips to 1.3540
• Downside Potential: The downside potential for this call option is 80 pips to 1.3300

The EURUSD has been under selling pressure since May 8th 2014. Price action has taken this currency pair from an intra-day high of 1.3993 reached on May 8th 2014 to an intra-day low of 1.3333 reached on August 6th 2014. Price action did attempt a reversal after the previous sell-off low of 1.3503 reached on June 5th 2014, but failed to successfully breakout which led to a continuation of the correction.

After reaching its most recent intra-day low on August 6th 2014 the EURUSD has gained some price stability with an increase of bullish factors acting on this currency pair. Binary options traders can take advantage from the expected rally with a call option. Today’s binary options trading strategy suggests call options to be placed below 1.3380 for a risk/reward ratio of 1.0/2.00.

The sharp sell-off coupled with the failed reversal attempt in June has created a falling wedge formation, a bullish chart pattern, which indicates a potential trend reversal which additionally favors binary call options. Trading may be choppy as the bullish chart formation will be tested and sellers launch a final attempt to violate this chart pattern. Traders are advised to look for a breakout above the 1.3415 level which would solidify the binary call option.


The expected rally will face its first major resistance level around 1.3503 which is the previous sell-off intra-day low reached on June 5th 2014 from which point the failed reversal attempt was launched. A successful breakout above this level will clear the next move higher to 1.3700 which marks the intra-day high reached on July 1st from where the most recent part of the correction unfolded.
The following economic data out of the Eurozone is expected to impact the base currency, the Euro, of the EURUSD currency pair:

ZEW Survey:

• Expectations: Eurozone ZEW Economic Sentiment below 48.0, German ZEW Current Situation at 54.0 and German ZEW Economic Sentiment at 17.0 for August 2014
• Previous Month’s Data: Eurozone ZEW Economic Sentiment at 48.1, German ZEW Current Situation at 61.8 and German ZEW Economic Sentiment at 27.1
• Impact on Euro: Expectations already call for a sharp drop which sets the Euro up for a potential upward surprise with a reading not as low as economists currently expect; this favors binary call options in this currency pair
In addition the following economic report out of the US is expected to impact the quote currency, the US Dollar, of the EURUSD currency pair:

NFIB Small Business Optimism:

• Expectations: Monthly reading of 96.0 for July
• Previous Month’s Data: NFIB Small Business Optimism at 95.0 in June
• Impact on US Dollar: The NFIB Small Business Optimism is a minor report and a positive report is accounted for, but given the lack of other relevant economic data it will be paid more attention than usual; a disappointment is expected to pressure the US Dollar lower which would send the EURUSD higher

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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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