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EURUSD BINARY CALL OPTION – DECEMBER 22ND 2014

WELLS FARGO 58.345 17:30 22.02
OIL-APR17 (BRENT) 55.785 17:30 22.02
TOYOTA (US) 114.260 17:30 22.02
COLGATE-PALMOLIVE 73.085 17:30 22.02
FERRARI 65.855 17:30 22.02
TSX 60 936.300 17:30 22.02
NZD/CAD 0.94522 17:30 22.02
ALIBABA 104.995 17:30 22.02
BOEING 175.425 17:30 22.02
PFIZER 33.705 17:30 22.02
AUD/USD 0.76870 17:30 22.02
AUD/JPY 87.211 17:30 22.02
GBP/USD 1.24415 17:30 22.02
EUR/USD 1.05560 17:30 22.02
GENERAL ELECTRIC 30.305 17:30 22.02
S&P 500 2362.140 17:30 22.02
JP MORGAN CHASE 90.965 17:30 22.02
METRO AG 29.860 17:30 22.02
SILVER 17.993 17:30 22.02
AIG 64.085 17:30 22.02
GOLD VS OIL 22.1128 17:30 22.02
OIL-MAR17(WTI CRUDE) 53.980 17:30 22.02
USD/CAD 1.31958 17:30 22.02
FTSE MIB F-MAR17 18867.500 17:30 22.02
GOLD 1233.564 17:30 22.02
DOW 20760.31 17:30 22.02
TELEFONICA 9.354 17:30 22.02
AUD/CAD 1.01435 17:30 22.02
DOLLAR INDEX-MAR17 101.390 17:30 22.02
3M 185.110 17:30 22.02
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By: Adam Stone
December 22, 2014 6:00am 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 1.2250
• Upside Potential: The upside potential for this binary call option is 280 pips to 1.2530
• Downside Potential: The downside potential for this binary call option is 150 pips to 1.2100

The EURUSD has been caught in a severe corrective phase after it reached its intra-day high of 1.2570 on December 16th 2014. The Euro was pressured lower despite a series of better than expected economic reports out of the Eurozone. Price action is expected to adjust to the data in the coming week. The strong move to the downside recorded an intra-day low of 1.2210 today on December 22nd 2014 from where this currency pair bounced higher. The EURUSD is expected to reverse its current corrective phase and challenge its most recent intra-day high.

Price action is now trading inside its horizontal support level where this currency pair has stabilized. The EURUSD is anticipated to attempt a breakout above its horizontal support level and accelerate to the upside. Binary options traders can profit from the expected breakout with binary call options. Today’s binary options trading strategy suggests call options to be placed on dips below 1.2250 for a risk/reward ratio of 1.0/1.87.

The EURUSD saw volatility decrease with its move to the downside, but is expected to spike as the EURUSD is trading at a crucial support area. Sellers could attempt to force a breakdown below this area in order to extend the corrective phase and set a lower low. Given the overall better than expected economic data out of the Eurozone a breakdown is unlikely to be sustained and buyers are anticipated to force a price action reversal. This favors binary call options in the EURUSD currency pair.

The EURUSD will run into its first resistance level at its intra-day high of 1.2302 which was reached on December 19th 2014. This level has previously halted a move to the upside and pushed this currency pair into its current intra-day low. A breakout above this level will take the EURUSD into its intra-day low of 1.2370 which was reached on December 11th 2014. The next resistance level awaits the EURUSD at its descending resistance level around the 1.2440 mark. The final resistance level is located at its intra-day high of 1.2570 which was recorded on December 16th 2014.

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

Eurozone Consumer Confidence for the month of December:

• Expectations: A reading of -11.0 is expected for the month of December
• Previous Report’s Data: A reading of -11.6 was reported in the month of November
• Impact on the Euro: The anticipated improvement in Eurozone consumer confidence is likely to pressure the Euro to the upside which 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:

Chicago Federal Reserve National Activity Index for the month of November:

• Expectations: A reading of 0.25 is expected for the month of November
• Previous Report’s Data: A reading of 0.14 was reported for the month of October
• Impact on the US Dollar: The expected increase in the Chicago Federal Reserve National Activity Index is likely to disappoint and follow other regional disappointments which pressured the US Dollar to the downside; this favors binary put 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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