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By: Adam Stone
August 11th 2014 4:57am GMT, London UK

Binary options trading starts a new week with loads of news to pick at. For starters, the US stock markets, which have been very tough waters to navigate of late, seem to have quelled their thirst for chaos and have started noticeably choosing a direction, again. After a prolonged period of general malaise for indices like the S&P, US stock markets closed Friday’s session higher and seemingly with room to run upwards. For binary options trading strategies that are either based on the ups and downs of the indices or directly trading on them, this could mean a solid return to trading trends properly.

With the Fed set to continue cutting to cut the Federal influx known as quantitative easing, this rise of the indices may end up being somewhat capped though. The problem is, the American economy isn’t showing smooth results across the multitude of channels it should. For example, GDP went higher for quarter 2 but job creation isn’t rising. For binary options trading strategies, these divergences from the normal pattern of recovery are wreaking havoc with many strategies and its up to the trader to decide how best to get through these strange times.

One of the best ways is to do away with indices entirely until the S&P is back up above 1950 and in position to really crack 2000. With over 200 tradable assets at GOptions, there’s still plenty of meat on those bones. But for most binary options traders, the focus will thus return to the major forex pairs which are looking a bit top heavy.

For starters, the EUR/USD, which headed higher on Friday hasn’t really been able to maintain and this shows the strain of the correction higher by the pair. Binary options trading strategies looking to take advantage of the EUR/USD today will no doubt look for options to the down side, at least while the formation seen on the 30 minute charts is not broken. The immediate drop after reaching the 61.8 Fibonacci level (on Friday) will certainly leave binary options trading strategies focused solely on the down side today and we believe the immediate target will be the support level at 1.3389, which is a localized support level, and below this at the 1.3360 support level. Binary options trading strategies can certainly take advantage of this in a few ways.

EURUSD with bianry options trading

For starters, a break lower beyond the support at 1.3389 will probably lead to a lot of follow through, so we recommend initially taking down options for short-mid terms intra-day options (between 5-30 minutes). The follow through should be enough for this and profits should be had with relative ease so long as the RSI and MACD confirm that the momentum is intact.

Once the 1.3360 level is near to be tested, don’t wait idle as it may be much more favorable to opt for binary options reversal strategies until a break is clearly formed on the charts. This means taking up options on the very test of the nearby levels of 1.3389. Vigilance is key here as are the momentum indicators. So keep a close eye on them today.

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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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