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EUR/USD, GIVE SOME THANKS

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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Well, Thanksgiving is behind us, but the trading day ahead is going to be very light. So, no major news, no major moves. However, binary options traders will surely be able to take advantage of the forex pairs today as they seem to have the right idea when it comes to momentum. Looking at the EUR/USD, which is currently trading near 1.3615, the day looks to be building up even more momentum. Yesterday we explained that the market was looking higher for the EUR/USD and that binary options traders would be taking advantage on breaks. Well, that’s precisely what occurred and binary options traders were reported, by our dealing room, to have made a killing yesterday. Please read here yesterday’s binary options trading analysis to understand how our customers made the moves they made

Jonathan Sandam was quoted saying “volume got very high considering the day of trading we had with the holiday draining much of the interest out of the market. But the volatility spikes surrounding the breaks for the EUR/USD were a sight to behold. The market acted swiftly as it took out resistance after resistance in succession.”

For the day ahead, we are looking at a break of 1.3620, which could be literally any second now. We are looking at the trade with some hesitation though as the concern from the indicators (like RSI) are a bit neutral for a fast moving asset like the EUR/USD. This is cause for concern because breaks can thus turn into false breaks. So prior to taking an up option on a break of 1.3620, make sure to check RSI on minute based charts (1, 5, 15, or so) and steer clear of verifying the market using hourly or greater charts. It will simply prove fruitless.

Screen Shot 2013-11-29 at 7.33.56 AM

The reason is, you need to get a very localized gauge of momentum and to do so, you need to use short term charts like those listed above.

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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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