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EURUSD BINARY CALL OPTION – NOVEMBER 14TH 2014

USD/MXN 19.871 17:00 24.02
WELLS FARGO 57.525 17:00 24.02
USD/CHF 1.00555 17:00 24.02
OIL-APR17 (BRENT) 56.105 17:00 24.02
TOYOTA (US) 113.725 17:00 24.02
SONY 30.865 17:00 24.02
COLGATE-PALMOLIVE 73.005 17:00 24.02
FIAT CHRYSLER 10.74 17:00 24.02
LOCKHEED MARTIN 263.670 17:00 24.02
FERRARI 64.920 17:00 24.02
TSX 60 919.950 17:00 24.02
NZD/CHF 0.72402 17:00 24.02
CAD/CHF 0.76719 17:00 24.02
ALIBABA 102.105 17:00 24.02
BOEING 177.215 17:00 24.02
NZD/USD 0.72003 17:00 24.02
BANK OF AMERICA 24.145 17:00 24.02
CAD/JPY 85.655 17:00 24.02
AUD/USD 0.76799 17:00 24.02
AUD/JPY 86.220 17:00 24.02
GBP/USD 1.24984 17:00 24.02
EUR/USD 1.05800 17:00 24.02
GENERAL ELECTRIC 29.945 17:00 24.02
EUR/CHF 1.06391 17:00 24.02
S&P 500 2357.320 17:00 24.02
DOLLAR INDEX-MAR17 100.983 17:00 24.02
3M 186.885 17:00 24.02
CITIGROUP VS AIG 0.93773 17:00 24.02
CITIGROUP VS JP MORGAN CHASE 0.66142 17:00 24.02
MASTERCARD 110.390 17:00 24.02
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By: Adam Stone
November 14th 2014 4:13am 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 1.2460
• Upside Potential: The upside potential for this binary call option is 380 pips to 1.2840
• Downside Potential: The downside potential for this binary call option is 100 pips to 1.2360

The EURUSD has been able to stabilize after a reversal took this currency pair from its intra-day high of 1.2840 which was reached on October 21st 2014 to an intra-day low of 1.2357 which was reached on November 7th 2014. The reversal was caused by optimism out of the US economy while fundamental data out of the Eurozone has applied downward pressure on the Euro. After the most recent intra-day low the EURUSD managed to drift higher and create a series of higher lows which allowed for the creation of an ascending support level expected to further lift this currency pair.

Price action continues to enjoy the upward pressure provided by the ascending support level and the EURUSD is expected to resume its move to the upside until it approaches its descending resistance level from where a breakout may emerge. Binary options traders can profit from the anticipated move to the upside as well as breakout with binary call options. Today’s binary options trading strategy suggests call options to be placed on dips below 1.2460 for a risk/reward ratio of 1.0/3.80.

EURUSD with binary options

Volatility is expected to remain contained during the drift higher, but traders should expect a sharp increase once price action will approach its descending resistance level. Sellers are expected to attempt and halt the move to the upside while buyers will try to force a breakout above its descending resistance level in order to extend the move higher and challenge its most recent intra-day high. Upward momentum is expected to be strong enough to force a breakout which favors binary call options in the EURUSD currency pair.

The EURUSD will face its first resistance level at its intra-day high of 1.2533 which was reached on November 6th 2014 from where the move higher can be extended to its next intra-day high of 1.2577 which was reached on November 4th 2014. The next resistance level is posed by its descending resistance level near the 1.2600 level from where a breakout will take the EURUSD to its intra-day high of 1.2771 which was reached on October 29th 2014. The final resistance level is located at its intra-day high of 1.2840 which was reached on October 21st 2014 from where a double top formation may form.

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

Eurozone Gross Domestic Product for the third-quarter of 2014:

• Expectations: A quarterly increase of 0.1%, an annualized increase of 0.7%
• Previous Report’s Data: A quarterly increase of 0.1% was reported in the second-quarter, an annualized increase of 0.9%
• Impact on the Euro: The anticipated annualized slowdown in the Eurozone GDP is expected to be overshadowed by US economic data which is likely to disappoint; this favors binary call options in the EURUSD currency pair

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

Advanced Retail Sales for the month of October:

• Expectations: A monthly increase of 0.2% is expected for the month of October
• Previous Report’s Data: A monthly contraction of 0.3% was reported for the month of September
• Impact on the US Dollar: The last few reports on consumer spending have disappointed and today’s report is likely to follow suit 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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