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By: Adam Stone
August 27th 2014 7:08am GMT, London UK
Today’s Binary Options Trading Strategy:

• Currency Pair: EURUSD
• Timeframe: H4 (Hourly Chart)
• Binary Option Trading Recommendation: Seek binary call options on dips below 1.3170
• Upside Potential: The upside potential for this binary call option is 230 pips to 1.3400
• Downside Potential: The downside potential for this binary call option is 70 pips to 1.3100

The EURUSD has failed to halt its severe correction, but a falling wedge formation has developed which is a bullish chart pattern. The correction has lost steam over the past three trading days. As visible in this H4 chart this currency pair has resumed its correction from an intra-day high of 1.3445 reached on August 1st 2014 with an intra-day low of 1.3153 reached today on August 27th 2014.


Price action has formed a steep falling wedge formation which is a bullish chart pattern and indicates that a trend reversal may be on the horizon. Binary options traders can take advantage from the anticipated move higher with binary call options. Today’s binary options trading strategy suggests call options to be placed below 1.3170 for a risk/reward ratio of 1.0/3.29.

A continuation of the sell-off in the EURUSD is very unlikely, but a capitulation intra-day low may be formed depending on economic data released. The falling wedge formation is expected to force a breakout above its descending resistance level which is expected to lead to a sharp increase in volume as the EURUSD will rally higher. The expected rally will develop from extremely depressed levels for the Euro.

The trend reversal will face its first major resistance level at 1.3185 which is the descending resistance line of its bullish chart formation. A breakout above this level will clear the way for the EURUSD to rally to 1.3333 which is an intra-day low reached on August 6th 2014 and also marks the starting point of the descending support line of the falling wedge formation. A breakout above this level will take this currency pair to the 1.3412 level which is an intra-day high reached on August 15th 2014 and marks the starting point of the descending resistance line.

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

German Import Price Index for the month of July:
• Expectations: German Import Price Index contraction of 0.1%, annualized contraction of 1.4%
• Previous Month’s Data: German Import Price Index expansion of 0.2%, annualized contraction of 1.2%
• Impact on Euro: Germany is the largest economy in the Eurozone and a surprise reading in today’s import price index could allow the Euro to drift higher which favors binary call options in the EURUSD currency pair

In addition the following economic reports out of the United States are expected to impact the quote currency, the US Dollar, of the EURUSD currency pair:

MBA Mortgage Applications for the week of August 22nd:

• Expectations: Increase above 1.0%
• Previous Week’s Data: MBA mortgage application rose 1.4%
• Impact on US Dollar: The US housing market has shown signs of accelerated weakness and given the absence of other economic news a disappointment here could further put downward pressure on the US Dollar which favors binary call options in the EURUSD 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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