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EUR/USD BINARY STRATEGIES FOR THE DAY AHEAD

FTSE F-DEC16 6745.750 08:00 06.12
USD/RUB 63.806 08:00 06.12
USD/CHF 1.00590 08:00 06.12
OIL-FEB17 (BRENT) 54.685 08:00 06.12
COPPER-NOV16 2.6553 08:00 06.12
NZD/CHF 0.71775 08:00 06.12
CAD/CHF 0.75864 08:00 06.12
NZD/USD 0.71357 08:00 06.12
EUR/AUD 1.44544 08:00 06.12
CAD/JPY 85.854 08:00 06.12
AUD/USD 0.74454 08:00 06.12
AUD/JPY 84.756 08:00 06.12
GBP/USD 1.27552 08:00 06.12
VTB BANK 0.068930 08:00 06.12
TENCENT HOLDINGS 190.150 08:00 06.12
ROSNEFT' 350.875 08:00 06.12
GOLD VS SILVER 69.8109 08:00 06.12
EUR/GBP 0.84379 08:00 06.12
OIL-JAN17(WTI CRUDE) 51.435 08:00 06.12
SILVER 16.805 08:00 06.12
GOLD/EUR 1090.185 08:00 06.12
GOLD 1173.311 08:00 06.12
NASDAQ F-DEC16 4779.125 08:00 06.12
GOLD VS OIL 21.4558 08:00 06.12
USD/CAD 1.32590 08:00 06.12
S.BANK INDIA 259.675 08:00 06.12
AXIS BANK 460.725 08:00 06.12
TATA STEEL 414.100 08:00 06.12
TATA MOTORS 443.150 08:00 06.12
NIFTY F-OCT16 8181.500 08:00 06.12
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By: Adam Stone
August 6th 2014 5:06am GMT, London UK
 
After 4 weeks of turmoil in the middle east, geopolitical concerns get no reprieve as the Russia/Ukraine border is now heating up and has the potential to explode into a very tenuous situation. The Russians have built up over twenty thousand ground troops on that very border along with air, tank, and artillery support. The context of this in economic terms is more strife, more worry, and more what ifs. With so many questions in the air and the primary of them being what happens if Russia invades the Ukraine, under the guise of humanitarian aide or otherwise.

The markets themselves are acting in line with the current situation. The US stock markets dropped, following last week’s general trend downwards and this actually goes along with the USD’s increase in value over the course of the day. Against the EUR, the dollar managed to maintain and even extend the gains from Monday. Binary options trading strategies focused on the forex pair will likely continue to look to the downside. This hasn’t been a regular occurrence over the last 3-4 months and as such, binary options trading strategies will do better and maintain a more efficient profit ratio if they stick to the downside breaks. 1.3360 is the current support level for the EUR/USD forex pair and most binary options trading strategies will likely be based on the breaks of this support level in the coming hours.

EURUSD with binary options 6-8-2014

The more adventurous amongst you may wish to adopt an aggressive reversal strategy. By doing so, you will need to maintain vigilance as the market tests the 1.3360 support level. Such binary options trading strategies utilizing reversals necessarily means that traders will need to open numerous trades on each and every test of the support. We expect that a break of this support will gain momentum very quickly especially if the break occurs later in the US session. It will have had ample time building up the impetus needed to create a great deal of follow-through and as such, once the break hits, it is vital that binary options trading strategies shift over into break strategies. By shifting, traders will be able to take advantage of both ends of this stick.

For the day ahead, no major news items are expected in Asia, the EU, or in the US and as such, binary options traders will keep focused on the forex pairs with technical charts opened. We are sure that the slow and steady moves in the market in the quiet days of August will assist to take advantage of the moves of the day so long as they do in fact remain technical in behavior. Without news or other major events, the market should maintain its stance. So a technical outlook is certainly the way to keep your perspective 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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