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EUR/USD, GIVE SOME THANKS

GBP/USD 1.24430 17:20 22.02
EUR/USD 1.05615 17:20 22.02
OIL-APR17 (BRENT) 55.815 17:15 22.02
ALIBABA 104.870 17:15 22.02
AUD/USD 0.76832 17:15 22.02
AUD/JPY 87.185 17:15 22.02
SILVER 17.963 17:15 22.02
GOLD/EUR 1167.045 17:15 22.02
OIL-MAR17(WTI CRUDE) 53.980 17:15 22.02
GOLD 1232.476 17:15 22.02
EUR/JPY 119.846 17:15 22.02
USD/JPY 113.478 17:15 22.02
GBP/USD 1.24423 17:10 22.02
EUR/USD 1.05583 17:10 22.02
BitCoin/CNY 7487.500 17:00 22.02
USD/MXN 19.919 17:00 22.02
WELLS FARGO 58.325 17:00 22.02
USD/CHF 1.01100 17:00 22.02
OIL-APR17 (BRENT) 55.725 17:00 22.02
TOYOTA (US) 114.275 17:00 22.02
SONY 31.285 17:00 22.02
COLGATE-PALMOLIVE 73.035 17:00 22.02
FIAT CHRYSLER 11.35 17:00 22.02
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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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