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By: Adam Stone
July 24th 2014 6:19am GMT, London UK

Binary options trading begins the day on a high note with loads of opportunity available to traders today. Starting with the US session, we hope everyone heeded our call, literally, to take up options (call options) on a break of the 1985 level on the S&P stock index. We explained in the previous days that the binary options trading strategy of choice for the S&P index was certainly up options on a break of the 1985 level and later on the potential break of the 2000. Of course, we preferred the latter resistance as it bears a far greater level of significance for binary options traders and of course investors worldwide. However, we need to push past one level to reach the next and the move above 1985 yesterday is a huge step in the right direction for the index.

After all, the other US stock indices finished the day rather mixed with the Dow Jones losing 0.16% while the NASDAQ shot up higher by 0.4%. The lack of congruency and correlation between the indices should not fool you though. The fact that they aren’t running each and every day in the same direction is normal, so long as the general trend isn’t lost at any given point. This is not the case and binary options trading strategies are certainly still strictly based on the uptrend.

While it would require a move of more than 0.7% today to break past 2000, it is possible. We believe it’s more likely to need some more momentum to break. The reason is that the we are nearing the end of the week and in very rare cases has the S&P made such a significant break on a Friday. So considering the less likely case of a break today, binary options traders may need to wait till Monday for a big break. However, it doesn’t mean you need to stand on the sidelines. On the contrary, the market is very likely to continue the push higher today. So be ready to take more up options on the S&P if the local resistance at 1988 is broken. Keep the trades shorter term and smaller in size

The EUR/USD is as I write this breaking lower significantly. We explained yesterday that this was very likely and binary options trading strategies would need to account for such a move. We expected it all day yesterday but it needed more time apparently. So here you go, the moment you waited for; the EUR/USD is crashing down now.

Expect further moves lower for the forex pair and binary options trading strategies will certainly remain strictly focused on the down trend with no possible uptake of a reversal strategy given these circumstances. The risk level of such strategies would be deemed extremely high so just carry on with the trend and you should make off with serious profit.

EURUSD with Binary options trading strategies

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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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